Bank of America’s Brian Moynihan is the latest CEO questioning a proposed 10% credit card interest rate cap. That cap, proposed earlier this month by President Donald Trump, would slow consumer spending and limit credit availability, Moynihan said in a Thursday (Jan. 22) interview with...
A new Bank of America solution aims to turn 401(k) assets into a retirement income. 401k Pay, announced Thursday (Nov. 13), is a centralized hub featuring 401(k) recordkeeping, flexible deposit options and advice, designed to help plan participants to set, deposit and track their income...
The technology landscape for banks is shifting fast, and Bank of America CEO Brian Moynihan said the firm’s response is to build for both scale and intelligence. Speaking at the bank’s investor day on Nov. 5, he said decades of steady digital investment have created...
Artificial intelligence (AI) is fueling American economic growth, though its effect on employment is limited. That’s according to a recent report from the Bank of America (BofA) Institute, which finds that AI-related capital expenditures, especially in software and computing, were key drivers of GDP growth...
May 21, 2025
Business-to-business (B2B) transactions typically involve higher volumes and more complex authorization than consumer payments. Companies must balance usability with security, often managing multiple layers of authentication for different roles, departments and systems. Still, look closely at the latest generation of B2B payment systems and you’ll find an unexpected hero emerging from consumer tech: the humble […]
October 15, 2024
Cross-border payments are the lifeblood of international business — but for finance teams, they often come with a side of risk and complexity. As the world shrinks and global markets...
September 10, 2024
Turns out contactless payments were a lot more than a pandemic solution. They were in development as early as 2008, but what began as a public health measure in mid-2020...
October 20, 2022
The connected economy runs on a mostly invisible ocean of technologies to deliver new experiences, and it all relies on one foundational concept: integration. That’s the opinion of Galen Robbins,...
January 22, 2026
Bank of America and Citigroup are reportedly considering offering credit cards with a 10% interest rate in response to President Donald Trump’s demand for a cap on rates. This is one of multiple options that banks are considering, separately, after Trump made that demand, Bloomberg reported Thursday (Jan. 22), citing unnamed sources. Reached by PYMNTS, Citigroup declined to comment on the […]
January 22, 2026
Bank of America’s Brian Moynihan is the latest CEO questioning a proposed 10% credit card interest rate cap. That cap, proposed earlier this month by President Donald Trump, would slow...
November 13, 2025
A new Bank of America solution aims to turn 401(k) assets into a retirement income. 401k Pay, announced Thursday (Nov. 13), is a centralized hub featuring 401(k) recordkeeping, flexible deposit...
October 26, 2025
Artificial intelligence (AI) is fueling American economic growth, though its effect on employment is limited. That’s according to a recent report from the Bank of America (BofA) Institute, which finds...
