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 […]
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- Source: https://bankautomationnews.com/allposts/retail/bank-of-america-personnel-tech-spend-rises-in-q1/
