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Bank of America's digital investments continues driving engagement

14 days ago   |   By Business Insider

Summary List Placement The bank's $20.3 billion in total Q3 2020 revenues marked a 9% drop from Q2 2020 and an 11% drop year over year , which it attributed to low interest rates and increased pandemic-related operating and litigation costs. But in a positive sign that BofA is expecting better times ahead for its consumer lending business, it set aside $1.39 billion for loan losses, which is far lower than the $5.12 billion it set aside in Q2 2020.
Digital and mobile consumer banking user growth YoY slowed relative to last quarter, but BofA's continued digital investments appear to be...
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