Bank of America

Top American lender Bank of America has named Infosys McCamish Systems (IMS), the US subsidiary of Indian software services giant Infosys, as the source of a data leak owing to a ransomware attack suffered by over 57,000 of its users in November, according to documents reviewed by ET.“On or around November 3, 2023, IMS was impacted by a cybersecurity event when an unauthorized third party accessed IMS systems, resulting in the non-availability of certain IMS applications. On November 24, 2023, IMS told Bank of America…

On Thursday, fresh off a major policy victory, organizers and activists from Climate Defiance confronted Bank of America CEO Brian Moynihan at an event at a country club in his home town of Wellesley, Massachusetts. Moynihan was there to participate in a fireside chat about the economy and the finance industry. A Rolling Stone reporter was there to document the action. As soon as Moynihan started speaking, he was surrounded by protesters from the climate group. An activist loudly demanded that the CEO commit to…

By KEN SWEET and CORA LEWIS (Associated Press) NEW YORK — The cost to overdraw a bank account could drop to as little as $3 under a proposal announced by the White House, the latest effort by the Biden administration to combat fees it says pose an unnecessary burden on American consumers, particularly those living paycheck to paycheck. The change could potentially eliminate billions of dollars in fee revenue for the nation’s biggest banks, which were gearing up for a battle even before Wednesday’s announcement. Exactly…

Big banks held up well in 2023, even though the Federal Reserve continued to raise interest rates at a fast clip. Reports on fourth-quarter bank earnings, which start this week, should show how the banks’ customers fared in the harsher rate environment.  So far, households have continued to spend and borrow, despite higher borrowing costs, and businesses have hired at a healthy pace. The biggest banks have reaped the rewards. JPMorgan, Wells Fargo and Bank of Americaturned in strong profit growth for the first three…

Listen to article(2 minutes)Looking to get promoted quickly or avoid being underpaid? Then find companies where managers rise through the ranks, where promotions come with bigger pay bumps, or where employees stick around and build careers.That information has been hard for employees to find. A new ranking of Fortune 500 companies seeks to help job-hunters avoid dead-end jobs. The 2023 American Opportunity Index rates companies by how well they help employees, especially those without college degrees, move into better,…

Zelle, a payments app owned by seven of America’s largest banks, began reimbursing victims of imposter scams on the platform, according to an emailed statement from the company. Early Warning Services, the network operator of Zelle, says it will process refunds for scams dating back to June, which is a change of attitude by American bankers.What Inspired Dominic Monaghan's Performance in Moriarty?“As of June 30, 2023, our bank and credit union participants must reimburse consumers for qualifying imposter scams, like when…

Morgan Stanley said second-quarter profit fell 13% from a year ago, driven by a 22% decline in trading revenue. Morgan Stanley said second-quarter profit fell 13% from a year ago, driven by a 22% decline in trading revenue. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their…

Anti-money-laundering rules require broker-dealers to report to regulators on transactions over $5,000, but Merrill’s parent used a $25,000 threshold since their tie-up. Anti-money-laundering rules require broker-dealers to report to regulators on transactions over $5,000, but Merrill’s parent used a $25,000 threshold since their tie-up. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the…

Bank of America was ordered to pay $150 million in fines for double-charging customers, withholding promised reward bonuses for credit card holders, and opening thousands of bank accounts under customers’ names without their knowledge, a federal investigation revealed. Teyonah Parris and John Boyega on Working With Jamie Foxx | io9 InterviewThe Consumer Financial Protection Bureau (CFPB) announced its findings in a news release on Tuesday, saying Bank of America customers were charged overdraft feesmultiple times after a…

The government’s production-linked incentive scheme aims to “boost domestic manufacturing, investments and export in the telecom and networking products”. The scheme also includes mobile phones and this may drive Apple to shift at least 18% of its global iPhone production to India by the financial year 2025. According to a report by Bank of America (spotted by Economic Times), the Cupertino-based tech giant would be able to expand further in the country. This will be possible if the larger scale incentivises its vendors…