Bank of America CEO: ‘We Want a Cashless Society’

Bank of America CEO Brian Moynihan kicked off Fortune’s inaugural Brainstorm Finance conference in Montauk, N.Y., on Wednesday by discussing the tech-driven strides made by one of the country’s largest financial institutions. Speaking with Fortune editor-at-large Shawn Tully, Moynihan touched on BoA’s embrace of artificial intelligence-driven technology via applications like Erica, a voice-activated virtual assistant […]

Big Banks J.P. Morgan, Wells Fargo, and Bank of America Are Pulling Out of Lower-Income Neighborhoods

Big banks have been closing branches in lower-income areas and shifting more of their attention to wealthier ones, based on a new report from Bloomberg. Overall, there’s been a trend among the biggest banks–specifically J.P. Morgan Chase, Wells Fargo, and Bank of America–to reducing their branch networks. Relying on ATMs and online banking is less […]