Bank of America to slash overdraft fees to $10 from $35
Nation's second-largest bank also will stop charging customers when they bounce a check.
Bank of America
Two U.S. banks cut overdraft fees
Bank of America is reducing its $35 overdraft fee to $10 and Capital One is offering free overdraft protection as U.S. banks come under pressure from federal regulators to cut those fees.
Banks could suffer massive wave of job losses, analysts say
About 100,000 jobs could vanish over the next five years due to automation, according to Wells Fargo.
U.S. economy reaches pre-pandemic levels
The Labor Department says 400,000 Americans filed first-time unemployment claims last week, down 24,000 from the previous week. And the Commerce Department reports the nation's gross domestic product has reached pre-pandemic levels. Michelle Meyer, head U.S. economist for Bank of America Securities, joins CBSN to discuss the U.S. economic recovery.
Bank of America CEO says U.S. economy is "really set to go"
Bank of America CEO Brian Moynihan says increased consumer spending is helping the U.S. economy rebound from the pandemic.
Bank of America's minimum wage to hit $25 an hour by 2025
The bank joins Amazon, Chipotle and McDonald's on a short list of big companies that recently hiked their hourly wages.
Minority-owned banks draw billions in funding and donations
The U.S., along with some of the nation's biggest banks, are pumping big bucks into Minority Depository Institutions.
Keep an eye on these 4 companies and their diversity efforts
Black business leaders shared their short list of companies expected to move the needle on racial equality in 2021.
Unemployment fraud crackdown is "disaster" for some with real claims
Jobless Californians with legitimate unemployment claims are struggling to get their money.
Bank of America pledges $25M to address racial inequities
Bank of America is pledging to address racial and economic inequities by committing $25 million to assist "up-skilling and reskilling" for Black and Hispanic-Latino students. Ebony Thomas, the bank's environmental, social and governance strategy executive, joined CBSN to discuss why investing in communities of color is valuable.
Bank of America ends pandemic pay, citing "business as usual"
Financial giant, with $12 billion in profits this year, had been offering some workers an extra $400 a month.
Bad debts top $100 billion at nation's biggest banks
JPMorgan Chase expects $32 billion worth of bad loans, nearly triple what it had set aside a year ago, before Covid hit the world.
Recession to be felt "deep into 2022," says Bank of America
Consumer banking giant revised down its outlook for U.S. economy as cities and states pause or reverse plans to reopen.
Transcript: Brian Moynihan on "Face the Nation"
The following is a transcript of an interview with Bank of America CEO Brian Moynihan that aired Sunday, April 26, 2020, on "Face the Nation."
Bank of America CEO says analysts predict economy will return "late next year"
"There's great debate about how much this will ultimately take", CEO Brian Moynihan told "Face the Nation" on Sunday.
Big banks "prioritized greed" in small business aid, lawsuits say
JPMorgan Chase small business client said he applied for loan first day it was available, but money was never approved.
Nation's 4 biggest banks project $71 billion in loan losses
Financial giants including Bank of America, Citigroup and JPMorgan Chase are bracing for massive losses.
Businesses ready for Paycheck Protection Program, but banks aren't
Three of the nation's four largest lenders initially wouldn't take loan applications, leaving borrowers in the dark.
Transcript: Brian Moynihan on "Face the Nation"
The following is a transcript of an interview with Bank of America CEO Brian Moynihan that aired Sunday, March 15, 2020, on "Face the Nation."
Bank of America CEO on coronavirus: "This is a war"
The head of the second-largest financial institution in the U.S. says Bank of America is treating the pandemic like a natural disaster.
Bank of America hiking minimum wage to $20 an hour
It will be first major U.S. financial institution to crack $20 line, reflecting the tight labor market
Bank lending slows, heightening recession fears
Big banks reporting weaker lending even as the Federal Reserve has lowered interest rates to stoke economic growth
Bank of America hiking its minimum wage to $20 an hour
Raise comes as big bank CEOs prepare to appear before Congress to discuss the role of large financial firms
Minimum wage would be $33 today if it grew like Wall Street bonuses have
Wall Street bonuses have increased 1,000 percent since 1985, jumping from about $14,000 to a rich $153,700 per year
Shutdown's drag to worsen, economists warn
The negative impact on GDP will double for every week the impasse continues, Bank of America economists warn
Gaetz ethics report says his drug use, sex with a minor violated state laws
A report by the House Ethics Committee found former Rep. Matt Gaetz paid multiple women, including a 17-year-old girl, for sex.
Who are the 3 federal death row inmates whose sentences Biden didn't commute?
President Biden left in place the capital punishment sentences of just three federal inmates: Robert Bowers, Dzhokar Tsarnaev and Dylann Roof.
Luigi Mangione pleads not guilty to state murder, terrorism charges
Luigi Mangione pleaded not guilty Monday to state charges in the murder of UnitedHealthcare CEO Brian Thompson.
6 key takeaways from the Matt Gaetz ethics report
The House Ethics Committee released its highly anticipated report on former Rep. Matt Gaetz, detailing allegations of sexual misconduct, drug use and obstruction. He denies wrongdoing.
Greenland's leader says "we are not for sale" after Trump suggests U.S. takeover
President-elect Donald Trump also seemed to suggest the Panama Canal should belong to the United States.
Bill Clinton hospitalized for "testing and observation" after developing fever
Former President Bill Clinton remains in "good spirits," a spokesman said.
NYC police charge man with murder of woman set on fire on subway
Sebastian Zapeta, 33, was charged with murder and arson after a woman sleeping on the New York City subway was set on fire and died, police say.
Biden commutes sentences of 37 of 40 federal death row inmates
President Biden is granting clemency to 37 of the 40 federal inmates facing death sentences. Their sentences will be commuted to life in prison without the possibility of parole.
Mega Millions jackpot nears $1 billion for Christmas Eve lottery drawing
A Mega Millions player may win a big jackpot on Christmas Eve. The lottery prize for the December drawing is at an estimated $944 million.
U.S.
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Here's what to know about the Corporate Transparency Act ruling
The Corporate Transparency Act, or CTA, requires businesses to register with FINCEN, or face fines. Here's what to know.
Denzel Washington gets minister's license at Harlem church
Just shy of his 70th birthday, Denzel Washington has a new line to add to an already impressive résumé.
Bill Clinton hospitalized for "testing and observation" after developing fever
Former President Bill Clinton remains in "good spirits," a spokesman said.
Mega Millions jackpot nears $1 billion for Christmas Eve lottery drawing
A Mega Millions player may win a big jackpot on Christmas Eve. The lottery prize for the December drawing is at an estimated $970 million.
Dairy farmers struggle to cover expenses as American appetites change
The work never ends on a dairy farm. The job is "rewarding spiritually, not always financially," New York farmer Nate Chittenden says.
MoneyWatch
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Here's what to know about the Corporate Transparency Act ruling
The Corporate Transparency Act, or CTA, requires businesses to register with FINCEN, or face fines. Here's what to know.
Dairy farmers struggle to cover expenses as American appetites change
The work never ends on a dairy farm. The job is "rewarding spiritually, not always financially," New York farmer Nate Chittenden says.
Starbucks strike expands to more cities just days before Christmas
Starbucks baristas and Amazon delivery drivers are on strike in handful of U.S. cities as they seek wage increases.
Nordstrom to go private in $6.25 billion deal with Nordstrom family
Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal.
Walmart accused of illegally opening costly accounts for drivers
Walmart and Branch Messenger, a payments platform, accused of deceiving workers about pay from retailer for two years.
Politics
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Bill Clinton hospitalized for "testing and observation" after developing fever
Former President Bill Clinton remains in "good spirits," a spokesman said.
Ex-D.C. police officer convicted of lying about leaks to Proud Boys leader
A retired police officer in the nation's capital has been convicted of lying to authorities about leaking confidential information to the leader of the Proud Boys extremist group.
Who are the 3 federal death row inmates whose sentences Biden didn't commute?
President Biden left in place the capital punishment sentences of just three federal inmates: Robert Bowers, Dzhokar Tsarnaev and Dylann Roof.
Read the full Matt Gaetz ethics report
The House Ethics Committee has released its long-awaited report on allegations of misconduct by former Rep. Matt Gaetz. Read the full report here.
6 key takeaways from the Matt Gaetz ethics report
The House Ethics Committee released its highly anticipated report on former Rep. Matt Gaetz, detailing allegations of sexual misconduct, drug use and obstruction. He denies wrongdoing.
HealthWatch
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HealthWatch
How to stay healthy during holiday gatherings
Seasonal illnesses are increasing just days away from the holidays. The CDC reports positive flu tests are up 9% in the most recent week and cases of whooping cough are six times last year's rate. Dr. Susannah Hills, an ear, nose and throat specialist at Columbia University Medical Center, explains how to stay safe.
Health care AI, intended to save money, requires expensive humans
Despite the hype over artificial intelligence in medicine, the systems require consistent monitoring and staffing to put in place and maintain.
Are you contagious? Here's when you're most likely to spread COVID, flu, RSV
How long are you contagious after getting COVID, flu, RSV, pneumonia and more? Here's what to know to keep others safe this holiday season.
CDC releases concerning new flu numbers
Thirteen states reported "high" or "very high" levels of flu-like illness last week, according to the U.S. Centers for Disease Control and Prevention. That's double the number of states from the week before. Ali Bauman reports.
A teen's misdiagnosis led to medication, but surgery led to a cure
Isaac Klapper was 10 years old when he started having episodes of what doctors initially thought was a movement disorder.
World
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Legendary drug lord deported to Colombia after release from U.S. prison
Fabio Ochoa arrived at Bogota's El Dorado airport on a deportation flight on Monday, wearing a grey sweatshirt and carrying his personal belongings in a plastic bag.
Burt, the famous croc from "Crocodile Dundee" movie, dies in Australia
Burt, the iconic Saltwater crocodile that appeared alongside Paul Hogan and Linda Kozlowski in the hit movie, was believed to be more than 90 years old.
Greenland's leader says "we are not for sale" after Trump suggests U.S. takeover
President-elect Donald Trump also seemed to suggest the Panama Canal should belong to the United States.
Australia approves extradition of former U.S. Marine
Former U.S. Marine Corps pilot Daniel Duggan will be extradited from Australia to the United States over allegations that he illegally trained Chinese aviators.
Philippines says it will buy U.S. Typhon missile system, angering China
The Philippines says it plans to buy the U.S. Typhon missile system as part of a push to secure its maritime interests, sparking warnings from China of a regional "arms race."
Entertainment
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Denzel Washington gets minister's license at Harlem church
Just shy of his 70th birthday, Denzel Washington has a new line to add to an already impressive résumé.
Burt, the famous croc from "Crocodile Dundee" movie, dies in Australia
Burt, the iconic Saltwater crocodile that appeared alongside Paul Hogan and Linda Kozlowski in the hit movie, was believed to be more than 90 years old.
Meet the man behind Bergdorf Goodman's iconic holiday windows
This year's holiday displays at Bergdorf Goodman honor Fifth Avenue's bicentennial and will be on display through Jan. 6.
Samara Joy on new album, family tour
Samara Joy, the 25-year-old jazz sensation and three-time Grammy winner, joins "CBS Mornings Plus" to talk about her new album "Portrait" and her holiday tour with family.
Boyd Holbrook on his role as Johnny Cash
In the highly anticipated film "A Complete Unknown," Boyd Holbrook portrays Johnny Cash and brings to life the music legend's early interactions with Bob Dylan, played by Timothée Chalamet. Holbrook joins "CBS Mornings Plus" to talk about the role.
Technology
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Technology
Researchers develop robot to help people walk
A robotic exosuit may seem like science fiction, but a team of South Korean researchers is turning the concept into reality. CBS News' Leah Mishkin explains how the new tech is helping people with disabilities walk on their own.
Holiday shoppers on the lookout for big TVs
TVs are some of the most popular items to fly off store shelves during the holidays. But this year, experts say shoppers are going bigger than ever. CBS News' Jeff Wagner explains.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Health care AI, intended to save money, requires expensive humans
Despite the hype over artificial intelligence in medicine, the systems require consistent monitoring and staffing to put in place and maintain.
Why drone hysteria has taken off
Alleged drone sightings have been multiplying exponentially, with more than 5,000 reported in the past few weeks. But experts say the majority of reports about unusual lights in the sky are probably anything but drones.
Science
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What to know about the winter solstice, 2024's shortest day
The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, and is marked with traditions and celebrations around the world.
Class-action lawsuit over plastic recycling
This week a group of plaintiffs in Missouri, Kansas, California and Florida filed a class-action lawsuit against dozens of companies and organizations, claiming they've falsely promoted how easy it is to recycle plastics. CBS News Los Angeles climatologist Marina Jurica has the details.
Why fish, birds and other animals yawn too, according to an expert
Humans aren't alone when it comes to yawning — all vertebrates do it. But why? An expert explains the likely reason behind this "evolutionarily ancient" act.
Americans coexisted with 4-ton sloths for millennia, research shows
Early Americans may have spent millennia sharing prehistoric savannas and wetlands with enormous beasts, research shows.
EPA tackling pollution in at-risk communities
The Environmental Protection Agency under President Biden created a new Office of Environmental Justice that seeks to address pollution levels in disadvantaged and marginalized communities. However, there is concern that the incoming Trump administration could do away with the new department. David Schechter reports.
Crime
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Legendary drug lord deported to Colombia after release from U.S. prison
Fabio Ochoa arrived at Bogota's El Dorado airport on a deportation flight on Monday, wearing a grey sweatshirt and carrying his personal belongings in a plastic bag.
Mangione lawyer concerned about fair trial
The man accused of killing UnitedHealthcare CEO Brian Thompson remains behind bars after pleading not guilty to murder and terrorism charges Monday morning in New York. Luigi Mangione's lawyer argues that the multiple state and federal investigations conflict with his right to a fair trial. CBS News correspondent Lilia Luciano reports.
NYC police charge man with murder of woman set on fire on subway
Sebastian Zapeta, 33, was charged with murder and arson after a woman sleeping on the New York City subway was set on fire and died, police say.
Mangione's lawyer on fair trial right
Karen Friedman Agnifilo, Luigi Mangione's lawyer, protested New York City Mayor Eric Adam's statements about the suspect in the UnitedHealthcare CEO's murder case. CBS News legal contributor Caroline Polisi breaks down the legal argument on the right to a fair trial.
Luigi Mangione's latest court appearance
Luigi Mangione pleaded not guilty in a New York court to charges connected to the murder of UnitedHealthcare CEO Brian Thompson. CBS News' Lilia Luciano reports. Also, CBS News legal contributor Jessica Levinson has more on the case's latest turns.
Space
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Discovery of "tipped over" black hole surprises NASA scientists
New analysis techniques and decades-old research helped NASA scientists identify an unusual black hole in a distant galaxy.
Why are the Boeing Starliner astronauts stuck in space?
Here's why NASA astronauts Suni Williams and Butch Wilmore are stuck, but not stranded, at the International Space Station after launching into space in June.
NASA delayes return date for astronauts
NASA has delayed the return date for Boeing's Starliner astronauts Butch Wilmore and Suni Williams. CBS News' Manuel Bojorquez reports on the decision to keep the two in space.
NASA leader weighs in on Elon Musk, SpaceX and plans for moon rocket
NASA Administrator Bill Nelson says he's optimistic the Trump administration will support the space agency's agenda.
Boeing Starliner crew's return delayed again
Two astronauts who have been stuck in space since June will have to wait until at least the end of March to come home after NASA on Wednesday again pushed back their return date. Derrick Pitts, chief astronomer for the Franklin Institute, joined CBS News to discuss what's causing the delays.
Latest Galleries
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Notable Deaths in 2024
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Scott Peterson case: New evidence?
Peterson's death sentence for the murder of his pregnant wife Laci has been overturned. Now his supporters are pushing for a complete retrial.
The troubled marriage of Ashley and Doug Benefield
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Texas couple investigates teen daughter's unusual death
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
Summer music heats up 2024
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Latest CBS News Videos
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Latest CBS News Videos
Researchers develop robot to help people walk
A robotic exosuit may seem like science fiction, but a team of South Korean researchers is turning the concept into reality. CBS News' Leah Mishkin explains how the new tech is helping people with disabilities walk on their own.
Last-minute holiday gift ideas
The days are winding down for you to get those holiday gifts. Jordyn Holman, business reporter for The New York Times, joins CBS News with some options you have in these final few days.
Holiday shoppers on the lookout for big TVs
TVs are some of the most popular items to fly off store shelves during the holidays. But this year, experts say shoppers are going bigger than ever. CBS News' Jeff Wagner explains.
Movies, shows to stream this holiday season
It's award season and the holiday season, which means it's time to hunker down and watch something fun. But if you don't want to brave the cold this week, there's lots of great content to stream in the comfort of your home. Axios entertainment reporter Maxwell Millington joins CBS News with a list of the best movies and TV shows to watch at home around the fireplace this holiday.
Holiday weather forecast for across the U.S.
Millions across the West Coast and Central Plains are expecting a warm holiday season while the East is bracing for another round of cold weather. CBS News Philadelphia meteorologist Andrew Kozak has the latest forecast.