| Bank of America Launches Microsite
Bank of America Corp. has launched its "Bank the Way You Live" mircosite today in an effort to attract customers who want to do mobile banking. The site features characters that lead users through interactive demonstrations of each online and mobile banking product. Customers can find information on how to access accounts, pay bills, transfer funds, locate branches or ATMs and receive account alert text messages on their mobile phone. Customers can also see how to gather information and accounts for a clearer financial picture, all with layers of security to keep customers personal finance information protected. .
Check It Out
Bob in Pittsboro continues to defend the lame Bank of America greeter. (If you're new to this debate, a couple of weeks ago we wrote about being faux customer-serviced by a BOA greeter, who pretended to be concerned about our needs. Bob shot back that we were a "grouch" for not appreciating BOA's interest in us, its valued customer. We responded with a list of things we could have done in the 15 minutes we had to wait to see our senior personal banker.) Today, Bob continues to portray BOA as the victim."Not only a grouch," writes Bob, "but a poor planner. From BOA's Web site, here's what you could have done online ... . " He goes on to list several things that can be done with online banking -- which we have and use, thank you very much, Bob. Several things except what we needed to do, which was transfer funds from a CD account to checking, a simple task that we should not have to enlist the aid of an SPB in the first place! Which adds to our, yes, grouchiness!Bob concludes by offering one more thing we could have done in the 15 minutes we waited to see our SPB: "Try doing the 15-Minute Desk Workout (www.youtube.com/watch?v=nKCPcRcJmqc) in the bank lobby.
Ailing E-Loan eyes checking, credit cards
Internet bank E-Loan Inc. plans to expand its non-mortgage product lines in 2008 after the housing downturn forced it to lay off 44 percent of the work force at its Pleasanton headquarters. Preparing to weather a down housing market, E-Loan plans to offer a "transactional account," or a checking-account equivalent, that will pair with its savings and CD products, E-Loan President Mark Lefanowicz said. The bank will also begin offering credit cards and expand its student-loan program in 2008. The 410-job reduction announced Nov. 8 was the second this year for E-Loan, a subsidiary of Banco Popular North America, owned by Popular Inc. of San Juan, Puerto Rico. A February restructuring by the parent company cost nearly three dozen E-Loan employees their jobs as Popular's U.S.
Turning up heat on retirement savings
Bank of America Corp. plans to launch on Sunday a $35 million advertising campaign to promote its retirement savings accounts, as the Charlotte, N.C., bank stakes its claim in one of the fastest-growing areas of financial services. "We're in this to win," said Jeff Carney, the bank's chief of retirement products. About 54 million households have a relationship with the bank, but it manages individual retirement accounts for just 1.5 million people. Next year the print and online campaign may expand from IRAs to include the bank's 401(k) retirement savings plans and similar products. "People realize that 401(k)s and IRAs are the two most important vehicles for you to save for yourself," Carney said. The bank's spending would dwarf the $11.6 million that all banks collectively laid out last year to promote retirement products, according to New York data firm Competitrack.
Bank of America Tops Large Banks in Combating Identity Fraud New Javelin Strategy & Research report shows top U.S. ...
Bank of America ranked the highest in identity fraud protection, detection and resolution, according to a Javelin Strategy & Research report released today. The study of the top 25 U.S. banks found that this year financial institutions showed strength in resolution practices, but vulnerability in prevention and detection. Javelin analysts recommend that banks provide more account monitoring tools to its customers and empower them to "watch and catch" identity fraud earlier. Bank of America earned 78 points out of a total possible score of 100. Tied in second place are JP Morgan Chase, Washington Mutual and Wells Fargo, each earning 70 points. Citibank ranked third with 69 points; BB&T and Wachovia earned the fourth and fifth highest scores. On the whole, 77 percent of the financial institutions met Javelin's recommended resolution criteria, but showed slower progress in detection and prevention measures.
New BofA site touts online, cell-phone banking
Bank of America Corp. has launched an online site to instruct customers about online and cell-phone banking. "Our customers lead mobile lives, and they need a bank with options, products and features that can keep up with that fast pace," says Lance Drummond, e-commerce and ATM executive. "With Bank of America, all you need is Internet access through your computer or mobile phone to be connected to your finances anytime, anywhere." The site features characters that lead visitors through interactive demonstrations of each online- and mobile-banking product. Customers can learn how to access accounts, pay bills, transfer funds, locate branches or ATMs and receive account alerts via text message on their mobile phone. The Web site, dubbed Bank the Way You Live, is at bankofamerica.com/anywhere.
Arrest warrant highlights
In the affidavit, Waco police detective Charles Jaquith says he obtained records by subpoena for several banks where Mills and Downtown Waco did business. The investigation found the following: * Mills wrote 121 checks from Downtown Waco Inc. to herself, cashing some and putting some into her account at First National Bank of Central Texas. Other Downtown Waco Inc. checks were deposited into the account of her son, Richard Coke Mills Jr., at Bank of America. * Mills diverted into her private account at least 10 checks intended for Downtown Waco Inc., worth $19,939. That included checks of several thousand dollars from Kelly Realtors, Waco Independent School District, the Waco Tribune-Herald, McLennan Community College and Baylor University. * Mills wrote $40,800 checks to herself from a Downtown Waco Inc.
BofA launches football-related sweepstakes
Bank of America Corp. has launched a six-week sweepstakes to encourage saving through its Keep the Change program. Through the promotion, dubbed Monday Morning Quarterback, customers can win prizes that include a trip for two to Super Bowl XLII in Arizona. Participants also will vie for weekly prizes such as a refund equal to one-quarter of their weekend spending. Customers can go to www.bankofamerica.com/quarterback for information and to enroll. Keep the Change customers have each check-card purchase rounded up to the next whole dollar amount. The difference is transferred from their checking account to their savings account. "Through the Monday Morning Quarterback promotion, we hope to highlight the importance of saving and remind customers that they can join the more than 6.5 million customers who have already saved more than $620 million just by enrolling in Keep the Change and using their debit cards for everyday purchases," says Susan Faulkner, deposits and student-lending executive.
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