Bank of America Stock Price, News & Analysis

Bank of America (NYSE:BAC) has launched AskGPS (Ask Global Payments Solutions), a new generative AI assistant designed to transform how its GPS team serves over 40,000 business clients globally. The in-house built system is trained on more than 3,200 internal documents and can provide instant answers to complex client queries, potentially saving tens of thousands of employee hours annually.

The AI assistant complements BofA's existing AI solutions, including CashPro Chat with Erica (used by 65% of business clients), CashPro Forecasting, and Intelligent Receivables. The bank continues to deploy AI across four key domains: intelligent agents, search and summarization, content generation, and operations and coding.

Bank of America (NYSE:BAC) has announced the launch of Capital Markets Insights on its CashPro® App, introducing AI-driven market intelligence for investment-grade capital markets clients. The new feature includes the proprietary Trade Evaluation Driver (TED), an AI algorithm that quantifies market conditions for debt issuance decisions.

The enhancement to CashPro, which serves over 40,000 corporate and commercial clients globally, consolidates previously scattered market data into a centralized mobile view. Users can now access market statistics, same-day issuance information, and investment grade secondary bond pricing data through the platform's intuitive interface.

Bank of America (NYSE:BAC) has appointed Kelly Firment as the new president of Bank of America Delaware, succeeding Chip Rossi who retired in June 2025 after 15 years in the role. Firment, who joined the bank in 1988, will maintain her current position as Small Business and Vehicle Client Services Executive while taking on the market president role.

In her current role, Firment oversees services for over 3.4 million small business clients, 7.8 million likely business owners, and 1.8 million vehicle lending clients. She brings extensive experience across operations, strategic planning, marketing, and talent management. Firment holds a B.S. in Business and Technical Writing from the University of Delaware and is actively involved in community initiatives, serving on various educational and community foundation boards.

Bank of America (NYSE:BAC) has announced a significant commitment of over $1.1 million to LiftFund to support small businesses affected by the Texas Hill Country floods. The commitment includes $1 million in lending capital and an additional $100,000 for operational funding.

The funding will provide 0% interest rate loans to small businesses in 15 Texas counties declared as disaster areas. This initiative comes as federal assistance deadlines from FEMA and Disaster Unemployment Assistance have closed. The total funding raised for LiftFund's relief efforts now exceeds $5 million.

Bank of America (NYSE:BAC) has announced a $12 million commitment to support Western North Carolina's recovery from Hurricane Helene through zero-interest loans to Community Development Financial Institutions (CDFIs). The funding will be distributed among three CDFIs: $8 million to Self-Help Ventures Fund for flexible home loans, and $2 million each to Mountain BizWorks and Partner Community Capital for small business assistance.

This initiative builds upon BAC's previous $1 million donation for immediate hurricane relief, including $200,000 each to the Asheville Area Chamber of Commerce Foundation and Manna Food Bank. The bank's employees have contributed thousands of volunteer hours, with 500 teammates completing over 5,000 damage assessments for the American Red Cross.

Bank of America (NYSE:BAC) announced the Board's authorization of regular cash dividends for multiple series of preferred stock. The dividends will be paid in October and November 2025, with record dates in October. The dividend rates range from 4.125% to 7.25% across different preferred stock series.

The company serves approximately 69 million consumer and small business clients through 3,700 retail centers and 15,000 ATMs, with about 59 million verified digital users. BAC operates across the United States and more than 35 countries, providing comprehensive banking, investing, and asset management services.

Bank of America (NYSE:BAC) has announced significant hiring initiatives focused on expanding economic opportunities across the United States. The bank commits to hiring 10,000 additional military veterans over the next five years, bringing their total military hires to over 30,000 since 2015. Additionally, BAC plans to double its annual community college hiring to 1,600, targeting 8,000 new hires over five years.

The bank will also create 700 new financial center jobs through the opening of 63 new locations across Alabama, Idaho, Louisiana, and Wisconsin through 2027. These initiatives align with BAC's skills-based hiring approach and commitment to workforce development through its Academy program, which provides structured training and career development opportunities.

Bank of America (NYSE:BAC) has announced raising its U.S. minimum hourly wage to $25, effective early October 2025. This increase will boost the minimum annualized salary for full-time employees to over $50,000, delivering on the company's pledge to reach $25 by 2025.

The bank has demonstrated consistent wage growth, having increased minimum pay by more than $20,000 since 2017. Additionally, 97% of employees have received awards beyond regular compensation, with nearly $5.8 billion awarded since 2017, mostly in restricted common stock. The company also offers comprehensive benefits including 26 weeks of parental leave, backup childcare, and wellness programs.

Bank of America (NYSE:BAC) has maintained its position as the number one small business lender in the U.S. for 17 consecutive quarters, according to FDIC data. The bank's small business loan balances reached $46.7 billion in Q2 2025, marking over 4 years of industry leadership since Q2 2021.

The bank serves nearly 4 million small business households nationwide through a network of local bankers in over 200 communities. Bank of America was recently recognized as the "World's Best Bank for Small and Medium-Sized Enterprises" and received the "North America's Best Bank of Small and Medium-Sized Enterprises" award for the 10th consecutive year from Euromoney.