Bank of America is launching a new free checking account, which requires customers to use Online banking to avoid maintenance fees. The new system, titled eBanking, provides self-service checking as a way to avoid a monthly fee.

What You Need to Do
All you need to do is continue using electronic banking. Make sure you are enrolled in Online Banking with Bank of America and choose paperless statements.

California, the land harboring a $19 billion budget deficit and double-digit unemployment, has impelled Chase and U.S. Bank into an aggressive pursuit for customers against the state’s long time leaders, Bank of America and Wells Fargo.
“This is where the population is, this is where the growth is, this is where the wealth is,” U.S. Bank Southern California chairman Sean Foley told The Los Angeles Times, despite the state’s meager economic standing.

Employment may not be seeing much of a rebound on Main Street, but the job market is picking up on Wall Street.
Big banks are adding employees for the first time in two years, according to the New York State Department of Labor. The New York City area added 6,800 jobs within the financial industry during the three-month March-May period, the biggest three-month hiring boost since 2008.
Wall Street Banks Adding to Rosters

What makes Bank of America’s updated Asiana American Express card the new king of the Airline Mile credit cards? One reason: Asiana Airlines is a Star Alliance member, so you can book flights on Continental, United, and US Airways with miles you earn with the Asiana Airlines credit card.

Bank of America started inching away from BP
A top Bank of America executive ordered its oil traders to stop entering trades with embattled oil giant BP. The oil company is currently mired in an embarrassing and expensive situation as it tries to clean up its massive oil spill in the Gulf of Mexico.
Congress Talked About Upping Stock Brokers’ Ethics Requirements