DIRS.INFO The most relevant business & tech news

☆ Nearly half of Gen Zers get help from the bank of mom and dad, report finds
▼ + stars: | 2024-07-10 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

watch nowTo keep up with the high cost of living, many young adults turn to a likely safety net: their parents. "The high cost of living is certainly impacting Gen Z," said Holly O'Neill, president of retail banking at Bank of America. The financial institution polled more than 1,000 Gen Z adults in April and May. Even compared with millennials, Gen Zers are spending significantly more on necessities than young adults did a decade ago, other reports show. Fewer Americans feel financially comfortable overallBut it's not just Gen Z struggling.

Persons: Zers, —, Holly O'Neill, millennials, Gen Zers, homeownership, Brett House, O'Neill, Z, it's, Bankrate Organizations: Bank of America, New York Fed, Columbia Business School, Finance

☆ Gen Zs are better at 'loud budgeting,' but nearly half still need financial support from family: study
▼ + stars: | 2024-07-10 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewGen Zs are struggling financially, and nearly half of them rely on their parents for support, a new study found. Bank of America released a report Wednesday outlining Gen Z's financial health, and things aren't looking too great for these 18- to 27-year-olds. AdvertisementThe research found that 38% of Gen Zs are OK admitting to their friends that they can't go to certain social events because they can't afford them. "It is critical that we continue to empower Gen Z to work toward achieving financial health and meeting their long-term goals."

Persons: —, it's, Zs, It's, Rachel, Phoebe, Joey, shamefully, Chandler, Ross, Monica, Holly O'Neill, BofA's, Gen Organizations: Service, Bank of America, Business, Bank of America's, Bank, Retail Banking Locations: Ibiza

☆ US banking executives talk soft landing, capital rules
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +3 min

[1/2] Bank of America Chairman and CEO Brian Moynihan speaks at the ReutersNEXT Newsmaker event in New York City, New York, U.S., November 8, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsNov 8 (Reuters) - Top U.S. banking executives on Wednesday allayed fears of a recession, with Bank of America (BAC.N) CEO Brian Moynihan reiterating his expectation of a soft landing for the economy. Here are some excerpts from their interviews at the Reuters NEXT conference in New York:BRIAN MOYNIHAN, CEO AT BANK OF AMERICASOFT LANDING EXPECTATIONS"Our research team is the best in the business. They have moved to the soft landing category. ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) ISSUES"On a given day, we are criticized for being a large lender to energy companies.

Persons: Brian Moynihan, Brendan McDermid, BRIAN MOYNIHAN, HOLLY O'NEILL, JIM ESPOSITO, GOLDMAN SACHS, Niket Nishant, Manya Saini, Lananh Nguyen, Saeed Azhar, David Gregorio Our Organizations: Bank of America, REUTERS, U.S, Reuters NEXT, OF, GOLDMAN, Reuters, reuters, Thomson Locations: New York City , New York, U.S, New York

[1/6] A general view of the Bank of America financial center in New York City, U.S., June 26, 2023. REUTERS/Brendan McDermidNEW YORK, June 27 (Reuters) - Bank of America Corp (BAC.N) is adding consumer branches in four new U.S. states, it said on Tuesday, bringing its national footprint closer to rival JPMorgan Chase & Co (JPM.N). Bank of America will open new financial centers in Nebraska, Wisconsin, Alabama and Louisiana as part of a four-year expansion across nine markets, including Louisville, Milwaukee and New Orleans. The openings will give BofA a retail presence in 39 states, compared with JPMorgan, the largest U.S. lender, which has branches in 49 states. Holly O'Neill, Bank of America's president of retail banking, said last month that she expects good performance for the unit in the second quarter.

Persons: Brendan McDermid, Brian Moynihan, Moynihan, Aron Levine, Holly O'Neill, Saeed Azhar, Lananh Nguyen, Deepa Babington Organizations: Bank of America, REUTERS, Bank of America Corp, JPMorgan Chase &, JPMorgan, Federal Reserve, Consumer, CNN, Reuters, Bank of, Thomson Locations: New York City, U.S, Nebraska , Wisconsin , Alabama, Louisiana, Louisville, Milwaukee, New Orleans

[1/4] Holly O’Neill, President of Retail Banking at Bank of America speaks during a Newsmaker interview with Reuters in New York City, New York, U.S., May 31, 2023. "The consumer is still very healthy," Holly O'Neill, Bank of America's president of retail banking, said at a Reuters Newsmaker event. U.S. consumer spending increased more than expected in April, boosting the economy's growth prospects for the second quarter. Consumer spending on Bank of America cards fell 1.2 percent in April compared with a year earlier, the first year-on-year decline since February 2021, its data showed. The biggest shot O'Neill took in her career was moving to the consumer bank after serving as chief operating officer of the private-banking division.

Persons: Holly O’Neill, Mike Segar, Holly O'Neill, O'Neill, Erica, Lananh Nguyen, Saeed Azhar, Nupur Anand, Nick Zieminski Organizations: Retail Banking, Bank of America, Reuters, REUTERS, Bank of America Corp, Bank of, JPMorgan Chase &, First, Bank, Thomson Locations: New York City , New York, U.S

Search resuls for: "Holly O'Neill"

5 mentions found