Bank of America Customers’ Information Illegally Accessed and Sold As Renegade Staffer Sparks Fraudulent Withdrawals: US Regulator

June 22, 2024 The Daily Hodl

A US banking regulator says a Bank of America employee has illegally accessed customer accounts, leading to tens of thousands of dollars in losses. The Office of the Comptroller of the Currency (OCC) alleges Manuel Alejandro Ramirez Perez engaged in unsafe or unsound practices and violated laws while working as a relationship banker and credit solutions […]

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JPMorgan Chase, Bank of America and Citibank Flagged for Holding Trillions of Dollars in Derivatives Without Proper Contingency Plans

June 22, 2024 The Daily Hodl

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US regulators are flagging JPMorgan Chase, Bank of America, Citibank and Goldman Sachs over the banks’ contingency plans for trillions of dollars in derivatives. The Federal Reserve and Federal Deposit Insurance Corporation (FDIC) say the lenders’ so-called “living wills” – which in part detail how banks could safely unwind their derivatives portfolios without requiring government […]

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Federal Watchdogs Flag 4 Major US Banks for Lack of Crisis Management; Demand Living Will Revisions

June 22, 2024 Bitcoin.com

Bank of America

Federal authorities have spotlighted critical deficiencies in the crisis management strategies—known as “living wills”—of four major U.S. banks, signaling a push for stronger safeguards against financial turmoil. The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve announced that plans from Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase fell short of expectations, setting […]

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Bank of America: Younger Wealthy Investors Prefer Crypto Over Traditional Investments

June 19, 2024 Bitcoin.com

Bank of America

Bank of America report shows younger affluent individuals favor crypto and alternative investments, differing from older generations’ traditional focus. “In fact, the most ‘conservative’ group is holding the highest average exposure to crypto,” the bank said. ‘Younger Groups Hold More Crypto and More Alternative Investments’ Bank of America released a report titled “2024 Bank of […]

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Bank of America Predicts Bullish Trend for Silver, Prices to Hit $35/oz by 2026

June 18, 2024 Bitcoin.com

Bank of America

Bank of America (BOFA) forecasts a bullish trend for silver, anticipating an increase in prices through the latter half of 2024 into 2025. BOFA analysts project silver prices to average $35/oz by 2026, compared to the current spot price of $29.19/oz. This optimistic outlook is driven by expectations of an end to central bank interest […]

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Fed President Kashkari Finds Bank of America’s December Rate Cut Prediction Reasonable

June 17, 2024 Bitcoin.com

Bank of America

Minneapolis Federal Reserve President Neel Kashkari addressed Bank of America’s prediction for a potential Fed interest rate cut this year in an interview with CBS News on Sunday. Bank of America predicts that the Fed will cut rates once this year, likely in December. “I think that’s a reasonable prediction,” Kashkari said, noting that it […]

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JPMorgan Chase, Bank of America and Wells Fargo Customers Lose $456,000,000 in One Year To ‘Dirty Little Secret Called Zelle’: Senate Committee Chairman

June 8, 2024 The Daily Hodl

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JPMorgan Chase, Bank of America and Wells Fargo are failing to protect customers from hundreds of millions of dollars in scams and fraud per year, according to a US Senate panel. At a hearing held by the Permanent Subcommittee on Investigations, Democratic Senator and Chairman Richard Blumenthal said the banking giants’ customers submitted claims to […]

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Bank of America’s Wealth Management Division Leaks Names, Social Security Numbers of 1,883 Pension Plan Members

May 30, 2024 The Daily Hodl

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Bank of America’s wealth management firm, Merrill, says an employee has accidentally leaked the personal data of 1,883 pension plan members. The banking giant sent a data breach notice to the Office of the Maine Attorney General stating the employee inadvertently emailed the first names, last names and Social Security numbers of Walmart 401(k) plan participants to […]

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Bank of America Blames Customers, Ignores Law, Denies Fraud Claims Without Any Explanation or Proof Whatsoever: New Class-Action Allegations

May 17, 2024 The Daily Hodl

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A Bank of America customer just launched a class-action lawsuit accusing the lender of illegally refusing to reimburse legitimate victims of fraud. Plaintiff Kimberley Dennie says she lost her BofA debit card in February and soon watched several unauthorized transactions hit her account. Dennie says she promptly reported the card as lost or stolen and […]

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US Treasury Accused of Spying on Americans’ Bank Transactions in Secret Surveillance Program As Secretary Yellen Confirms ‘Communications Took Place’

May 11, 2024 The Daily Hodl

Bank of America

US Treasury Secretary Janet Yellen is responding to accusations that the US government and more than a dozen financial institutions have teamed up to spy on Americans’ private bank transactions. The House Judiciary Committee recently published a memo accusing the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) of urging banks to surveil their customers’ transactions […]

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