Bank of America personnel, tech spend rises in Q1 | Bank Automation News

Bank of America saw noninterest expenses increase year over year as employee and technology costs increased during the first quarter of 2023.  WHY IT MATTERS: The $3.1 trillion bank’s noninterest expenses rose 6% YoY to $16.2 billion, “driven by seasonal elevation from payroll taxes, FDIC insurance expense and the cost of adding people,” Bank of […]