Yahoo Finance Reporter David Hollerith explains why investors and Wall Street will be watching bank deposits amid higher interest and following the regional bank crisis.

Bank of America fined for deceptive practices

03:50pm, Tuesday, 11'th Jul 2023
Shares of Bank of America Corp (NYSE: BAC) are trending up even though it received a penalty from the Consumer Financial Protection Bureau on Tuesday.
American Banker reporter Polo Rocha spoke with Yahoo Finance's anchors Brad Smith and Julie Hyman about Bank of America having to pay more than
Bank of America is being ordered by federal regulators to pay customers for illegally "double-dipping on fees," withholding credit card rewards and opening fake accounts.
Bank of America reaped hundreds of millions of dollars by charging multiple fees to customers who did not have enough funds in their accounts from February 2018 until February 2022, the CFPB said.

Regulators Fine Bank of America $150 Million

11:31am, Tuesday, 11'th Jul 2023
The bank said it reduced overdraft fees and eliminated all non-sufficient fund fees in the first half of 2022.
The Consumer Financial Protection Bureau (CFPB) has ordered Bank of America to pay more than $250 million in penalties and restitution to customers.
The Consumer Financial Protection Bureau accused Bank of America of knowingly harming customers and ordered the bank to pay millions in penalties because of it.
The announcement is the latest sign that some of the practices exposed by the Wells Fargo fake accounts scandal in 2016 weren't confined to that bank.
CHARLOTTE, N.C. , July 11, 2023 /PRNewswire/ -- As previously announced, Bank of America will report its second-quarter 2023 financial results on Tuesday, July 18.
The Consumer Financial Protection Board (CFPB) said Tuesday that Bank of America Corp. BAC, +0.46% to pay a total of $250 million for illegally charging junk fees, withholding credit card rewards, and
High rates and decent loan demand are expected to have supported BofA's (BAC) Q2 earnings amid rising funding costs, higher provisions and muted IB and trading performances.

Bank of America Stock: Tasty Yield

08:00pm, Monday, 10'th Jul 2023
Bank of America Corporation easily passed the '23 stress test. The large bank now offers a 3.3% dividend yield that signaled a great buying opportunity during Covid. The stock is cheap at 8.5x '23 EPS
JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. kick off second-quarter earnings season Friday after one of the choppiest three-month periods for the banking sector since the global financi
CNBC's Hugh Son joins 'Power Lunch' to report the potential issues facing banks ahead.
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