Specter of "too big to fail" still haunts the banking industry
Forced sale of a storied investment bank and lax U.S. financial rules are renewing concerns about the banking sector.
Bank of America
Top economist shares outlook for 2023
The U.S. saw solid gains in the labor market in December, but concerns about a possible recession still linger. Bank of America's chief economist Michael Gapen joins CBS News' Catherine Herridge with his economic forecast for 2023.
Bank of America economist: 2023 could be "difficult"
Michael Gapen, chief economist at Bank of America, says the U.S. "may be able to avoid" a recession in 2023, but it "could be a difficult year."
Bank of America CEO sees mild recession in 2023
Bank of America CEO Brian Moynihan says he expects a "shallow recession" over the next year.
Bank aims to address racial homeownership gap
Bank of America is offering zero-down-payment and zero-closing-cost mortgages in a push to address racial disparities in homeownership. CBS News' Tanya Rivero and Errol Barnett speak with Jun Zhu, non-resident fellow of housing finance policy at the Urban Institute, about how effective this program could be.
Americans think economy headed for recession
New polling reveals 81% of adult Americans think the economy will likely experience a recession this year. David Tinsley, a senior economist at the new Bank of America Institute, joins CBS News' Tanya Rivero and Meg Oliver to discuss the state of the economy.
High gas prices take toll on other spending
National average gas prices reached a new record high on Memorial Day at over $4.61 per gallon. In order to budget for higher prices at the pump, many Americans are cutting back on other spending. Bank of America Institute's senior economist David Tinsley explains the relationship between gas prices and consumer spending and which groups are making the biggest cutbacks.
Report predicts "mild recession" in U.S.
A report from Bank of America says the U.S. will have a "mild recession" in the second half of 2022, fueled by inflation and heightened energy costs. Michael Gapen, head of U.S. Economics for Bank of America, joins "CBS News Mornings" to explain the report's findings and what a potential recession means for Americans.
Bank of America fined $225 million for botching pandemic aid
More than 100,000 people will be compensated for the bank's faulty fraud detection program, which froze customer accounts.
Bank of America hikes its minimum wage to $22 per hour
Nation's second-largest bank has said it plans to boost the company's baseline hourly pay to $25 by 2025.
Bank of America CEO on inflation, Fed meeting
Bank of America CEO and Chairman Brian Moynihan joins "CBS Mornings" to discuss possible Federal Reserve steps to reduce inflation and whether he thinks America is headed for a recession.
Bank of America CEO calls Roe v. Wade "settled law"
Brian Moynihan said Bank of America will assemble a broad team of employees to discuss what the company can do if Roe v. Wade is struck down.
"Black Panther" director falsely detained
"Black Panther" director Ryan Coogler was trying to withdraw money by passing a note to a teller, who then mistook him for a bank robber. Atlanta police say the incident was a mistake, and Bank of America has since apologized. Mola Lenghi reports.
"Black Panther" director mistaken for bank robber, video shows
Ryan Coogler was approached by police minutes after passing a note to a teller asking her to be discreet over a money withdrawal.
Bank of America to slash overdraft fees to $10 from $35
Nation's second-largest bank also will stop charging customers when they bounce a check.
Two U.S. banks cut overdraft fees
Bank of America is reducing its $35 overdraft fee to $10 and Capital One is offering free overdraft protection as U.S. banks come under pressure from federal regulators to cut those fees.
Banks could suffer massive wave of job losses, analysts say
About 100,000 jobs could vanish over the next five years due to automation, according to Wells Fargo.
U.S. economy reaches pre-pandemic levels
The Labor Department says 400,000 Americans filed first-time unemployment claims last week, down 24,000 from the previous week. And the Commerce Department reports the nation's gross domestic product has reached pre-pandemic levels. Michelle Meyer, head U.S. economist for Bank of America Securities, joins CBSN to discuss the U.S. economic recovery.
Bank of America CEO says U.S. economy is "really set to go"
Bank of America CEO Brian Moynihan says increased consumer spending is helping the U.S. economy rebound from the pandemic.
Bank of America's minimum wage to hit $25 an hour by 2025
The bank joins Amazon, Chipotle and McDonald's on a short list of big companies that recently hiked their hourly wages.
Minority-owned banks draw billions in funding and donations
The U.S., along with some of the nation's biggest banks, are pumping big bucks into Minority Depository Institutions.
Bank of America joins Chase in announcing card-free technology
Bank of America joins Chase in announcing card-free technology. New ATMs will allow you to get your money with your smartphone. The move is designed to save customers' time. CNET senior editor Dan Ackerman joins “CBS This Morning” to discuss the latest way technology is changing how we use money.
Jill Wagner reports on the day's top MoneyWatch headlines
Some Apple Pay users with Bank of America accounts were accidentally double-charged for some mobile purchases. Also, Google has created a new Gmail app called Inbox, which is coming soon. Jill Wagner reports on the day's top MoneyWatch headlines.
U.S. Attorney General Eric Holder called the Justice Department's settlement with Bank of America a "historic step forward" in protecting the American public from financial fraud
U.S. Attorney General Eric Holder called the Justice Department's settlement with Bank of America a "historic step forward" in protecting the American public from financial fraud. The deal is the largest government settlement stemming from the 2008 financial meltdown.
It is a result of the bank's role in the sale of mortgage-backed securities before the 2008 financial crisis
It is a result of the bank's role in the sale of mortgage-backed securities before the 2008 financial crisis. The bank will pay about $10 billion in cash and another $7 billion to homeowners. CBS News business analyst Jill Schlesinger joins "CBS This Morning" to discuss the details of the settlement.
Exclusive
Military personnel told last month to stop calling Iran conflict "Operation Epic Fury"
The Pentagon says "Operation Epic Fury" ended on May 5, after an Air Force email last month told service members to stop using the name for ongoing Iran operations.
Live
Trump says U.S. prepared to hit Iran "anytime we want" after "very heavy attack"
The U.S. military was looking into Iran's allegations that people at a wedding party were killed in the American strikes, a spokesman said.
2 killed, at least 5 injured in Minneapolis shooting, suspect also dead
Two people are dead and at least five others were injured, including three officers, after a shooting Wednesday in downtown Minneapolis, police said. The suspected shooter is also dead.
House rejects GOP effort to ban Supreme Court expansion in Constitution
A GOP-proposed constitutional amendment to limit the Supreme Court to nine justices failed in the House, coming up well short of the two-thirds majority needed.
Judge blocks Trump's latest effort to narrow birthright citizenship
A federal judge has temporarily blocked a Trump executive order that would prevent certain people from automatically becoming U.S. citizens at birth.
First on CBS
Dark money in Texas Senate race spurs Talarico complaint to FEC against Paxton
James Talarico's Senate campaign is accusing Ken Paxton and his campaign treasurer of "illegally spending" $1 million that was routed to a Paxton-aligned super PAC.
Plane carrying Mullin makes emergency landing after engine failure
"The United States Coast Guard pilots made the single engine landing feel routine. No panic, just straight professionalism," Mullin said on X.
Pentagon rolls out guidelines to test service members for testosterone
The Pentagon will begin requiring male service members ages 30 and older to get screened for testosterone deficiency, after Defense Secretary Pete Hegseth called for the change over the summer.
Lindsay Clancy jury still deadlocked, ends day without verdict
The jury in the Lindsay Clancy murder trial, which signaled Wednesday for a second straight day it is deadlocked, left without a verdict and will resume deliberations on Thursday.
U.S.
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Uber to shed 10% of workers as it moves to cut costs and streamline
CEO Dara Khosrowshahi said Uber is removing organizational layers and taking other steps to boost its efficiency.
2 killed, at least 5 others injured in downtown Minneapolis shooting
Two people are dead and at least five others are injured, including three officers, after a shooting near 15 East Grant Street Wednesday afternoon in downtown Minneapolis, according to police. The suspected shooter is also dead.
First on CBS
Dark money in Texas Senate race spurs Talarico complaint to FEC against Paxton
James Talarico's Senate campaign is accusing Ken Paxton and his campaign treasurer of "illegally spending" $1 million that was routed to a Paxton-aligned super PAC.
People turning to BNPL loans to pay for rent, food and other necessities
More consumers are taking out "buy now, pay later" loans to make ends meet, a sign of the U.S. affordability crisis, according to consumer advocates.
House rejects GOP effort to ban Supreme Court expansion in Constitution
A GOP-proposed constitutional amendment to limit the Supreme Court to nine justices failed in the House, coming up well short of the two-thirds majority needed.
MoneyWatch
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Uber to shed 10% of workers as it moves to cut costs and streamline
CEO Dara Khosrowshahi said Uber is removing organizational layers and taking other steps to boost its efficiency.
People turning to BNPL loans to pay for rent, food and other necessities
More consumers are taking out "buy now, pay later" loans to make ends meet, a sign of the U.S. affordability crisis, according to consumer advocates.
Meta says AI glasses fix stops users from secretly recording others
Meta upgrades its AI glasses' privacy features to block device users from filming people without their consent.
"We are the best," Chinese EV maker says ahead of push into North America
A trade deal with Canada is about to give Chinese EV makers already grabbing major market share elsewhere a foothold just over the Detroit River.
$1 gold Trump coins are on sale, but they'll cost you more than $1 apiece
The U.S. Mint said the President Donald J. Trump $1 coin can be bought in packages of 25 for $61 or 100 coins for $154.50.
Politics
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Elon Musk-backed super PAC spends $800,000 to back GOP midterm candidates
Elon Musk's super PAC disclosed over $800,000 in spending last month to support Republican Senate and House candidates in competitive races, with the bulk in Texas and Maine.
Exclusive
Military personnel told last month to stop calling Iran conflict "Operation Epic Fury"
The Pentagon says "Operation Epic Fury" ended on May 5, after an Air Force email last month told service members to stop using the name for ongoing Iran operations.
Judge blocks Trump's latest effort to narrow birthright citizenship
A federal judge has temporarily blocked a Trump executive order that would prevent certain people from automatically becoming U.S. citizens at birth.
Pentagon rolls out guidelines to test service members for testosterone
The Pentagon will begin requiring male service members ages 30 and older to get screened for testosterone deficiency, after Defense Secretary Pete Hegseth called for the change over the summer.
First on CBS
Dark money in Texas Senate race spurs Talarico complaint to FEC against Paxton
James Talarico's Senate campaign is accusing Ken Paxton and his campaign treasurer of "illegally spending" $1 million that was routed to a Paxton-aligned super PAC.
HealthWatch
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Clancy trial highlights need to rethink postpartum care: "The duty is on the system"
Lindsay Clancy's case is resonating with moms across the U.S. — bringing into focus the spectrum of perinatal mood and anxiety disorders and the lack of resources for many women.
What's true and false about infertility? We asked a fertility specialist.
Dr. Temeka Zore, a double board-certified OB-GYN and fertility specialist, joined "Healthful" for a deep dive on all things fertility, from endometriosis to PMOS (formerly known as PCOS) to egg freezing.
The market forces quietly adding thousands to patient bills
The true cost of "vertical integration": Patients directed to a higher-priced location for procedures. Or forced to buy from their insurer's wholly owned pharmacy, which may not stock the drug prescribed or provide it at the lowest price.
Trump inks deal with 9 pharmaceutical companies to lower drug costs
The White House said the agreements will reduce costs to treat Parkinson's disease, macular degeneration, glaucoma, liver disease and other illnesses.
Man with sinus infection symptoms diagnosed with heart condition
Marc Gaudisosi thought his symptoms were caused by a sinus infection. Then an urgent care told him to go to the hospital.
World
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Malta businessman found not guilty in car bomb killing of journalist
Daphne Caruana Galizia's killing shocked Europe, led to protests that toppled a prime minister and exposed a culture of impunity in the European Union's smallest state.
"We are the best," Chinese EV maker says ahead of push into North America
A trade deal with Canada is about to give Chinese EV makers already grabbing major market share elsewhere a foothold just over the Detroit River.
USS Abraham Lincoln docks in Thailand after more than 9 months at sea
The USS Abraham Lincoln aircraft carrier has docked in eastern Thailand after its grueling deployment in the Middle East.
Live
Trump says U.S. prepared to hit Iran "anytime we want" after "very heavy attack"
The U.S. military was looking into Iran's allegations that people at a wedding party were killed in the American strikes, a spokesman said.
Spain's leader says Russia and Israel fueled immigration "disinformation"
Spain's Prime Minister Pedro Sánchez says "networks linked both to Russia and to Israel" helped spread rumors about immigration "to attack Europe and divide it."
Entertainment
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Entertainment
Adria Arjona talks career, "Onslaught" role
Adria Arjona sits down with "CBS Mornings" to discuss her new movie, "Onslaught," and working with Michael B. Jordan on "The Thomas Crown Affair."
Artists sue AI-generated music company
Jason Isbell, Guy Forsyth and other musicians filed a class action lawsuit against Suno, claiming the AI platform used their music to train its model without permission. Jo Ling Kent has more.
Danielle Brooks on "If I Go Will They Miss Me"
Danielle Brooks sits down with "CBS Mornings" to talk about her new movie, "If I Go Will They Miss Me," and how being a mother and wife helped her in portraying the role.
Lionel Richie hospitalized after weekend show
While performing in St. Louis on Saturday night, Lionel Richie appeared at one point to lean on a piano for support, according to video from the show.
John Galliano's Met Gala exhibit canceled
John Galliano's exhibit for the 2027 Met Gala has been canceled after weeks of backlash over his past antisemitic and racist comments. CBS News fashion contributor Lauren Sherman reports.
Technology
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Technology
NYC bans AI use in some schools
New York City Mayor Zohran Mamdani announced a 1-year moratorium on the use of AI in elementary and middle school classrooms on Wednesday. Danielle Giunta, first deputy chancellor of NYC public schools, joins "The Daily Report" to discuss.
OpenAI sued again over Canada school shooting
More lawsuits have been filed against OpenAI in connection with February's deadly mass school shooting in Canada that took the lives of five students and a teacher. CBS News legal contributor Jessica Levinson breaks down the case.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Uber to shed 10% of workers as it moves to cut costs and streamline
CEO Dara Khosrowshahi said Uber is removing organizational layers and taking other steps to boost its efficiency.
OpenAI confirms "critical" risks of Astra model
OpenAI confirmed that its unreleased Astra model has reached a critical cyber capability threshold, which could pose cybersecurity risks. Tim Werth, a tech editor at Mashable, joins CBS News to discuss.
Science
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Science
Vote on the fattest marmot now
Marmots, not bears, are the largest "true" hibernating mammal, UCLA marmot researchers Katie Adler and Emily Renkey say. The two share more fun facts about these cute creatures and explain how to vote for the fattest marmot.
NASA plans to launch new space telescope
NASA's new telescope could change the way we see space. With a wide-field camera that will reveal an area up to 200 times larger than the Hubble Space Telescope, and an orbit a million miles from Earth, the Nancy Grace Roman telescope is expected to find tens of thousands of unknown exoplanets.
Invasive Joro spiders are "slowly spreading." Here's what to do if you see one.
The Great Smoky Mountains National Park told visitors Tuesday that invasive Joro spiders "may be hanging in a web near you."
A summer of extremes: Weathering a hotter world
July was the hottest month ever in the Lower 48 States – another escalation of our world into a hotter, more dangerous planet, where extreme weather events – such as heat waves, wildfires and hurricanes – will become more common and more extreme.
A summer of extremes: Weathering a hotter world
July was the hottest month ever in the Lower 48 States, breaking a record last set during the Dust Bowl – just another step in the escalation of our world into a hotter, more dangerous planet. Correspondent Jonathan Vigliotti talks with climate journalist Jeff Goodell and atmospheric scientist Maria Molina about how changes in Earth's climate are increasing the likelihood that extreme weather events – such as heat waves, wildfires and hurricanes – will become more common and more extreme.
Crime
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Crime
Gunman killed in Minneapolis mass shooting
Minneapolis police say they are responding to a deadly shooting that killed two people and injured multiple others, including police officers, law enforcement sources say. The shooter is also dead. CBS News correspondent Jonah Kaplan reports.
Malta businessman found not guilty in car bomb killing of journalist
Daphne Caruana Galizia's killing shocked Europe, led to protests that toppled a prime minister and exposed a culture of impunity in the European Union's smallest state.
1 killed, 6 injured in Minneapolis shooting
At least one person is dead and six others are injured after a shooting in downtown Minneapolis on Wednesday, the Hennepin County Medical Center says. CBS News Minnesota's Conor Wight reports. Then, CBS News' Jonah Kaplan joins with more.
Alleged Penn State ringleader granted bail
24-year-old Agostino Abbatiello, the alleged ringleader of the cocaine trafficking operation at Penn State, was led into court on Wednesday. A judge granted bail of $250,000 to the former member of the Sigma Chi fraternity. Lana Zak reports from the courthouse in Pennsylvania.
Lindsay Clancy jury deadlocked again
As of Wednesday, there was still no verdict in the murder trial of Lindsay Clancy. The jurors went home after a fifth day of deliberations, telling the judge for a second time that they could not decide whether Clancy is criminally responsible for killing her three young children. The judge told them to keep trying. Shanelle Kaul reports and Caroline Polisi has more.
Space
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NASA launches its Roman Space Telescope to explore the hidden universe
NASA's Roman Space Telescope launched shortly after daybreak from Kennedy Space Center and blazed toward an observation point 1 million miles away.
Roman Space Telescope promises 300-megapixel views of the cosmos
The $4.3 billion telescope is expected to discover tens of thousands of exoplanets while probing the nature of mysterious dark matter and energy.
First on CBS
Trump to honor Artemis II crew with nation's top space medal
President Trump plans to award the Congressional Space Medal of Honor to the crew of NASA's Artemis II mission in a ceremony Aug. 28.
NASA's Swift telescope will plunge toward Earth after rescue mission called off
The mission to save NASA's sinking space telescope has been called off, dooming the telescope to a fiery reentry later this year.
NASA images show 60-foot-wide crater on moon after SpaceX rocket booster crash
A NASA spacecraft circling the moon is providing the sharpest views yet of the crater carved by a crashing SpaceX rocket.
Latest Galleries
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Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Dolly Parton: An extraordinary life in pictures
Dolly Parton, the country music legend who became a feminist icon, has died at the age of 80. Here is a look back at her life in pictures.
Investigating the death of designer Sylvie Cachay
Sylvie Cachay was found dead in an overflowing bathtub at the exclusive Soho House in New York City on Dec. 9, 2010. A water leak at the hotel gave away a timeline that may have revealed her killer.
Summer music highlights of 2026
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Photos show celebrations at Obama Presidential Center
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
Latest CBS News Videos
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Latest CBS News Videos
Gunman killed in Minneapolis mass shooting
Minneapolis police say they are responding to a deadly shooting that killed two people and injured multiple others, including police officers, law enforcement sources say. The shooter is also dead. CBS News correspondent Jonah Kaplan reports.
1 killed, 6 injured in Minneapolis shooting
At least one person is dead and six others are injured after a shooting in downtown Minneapolis on Wednesday, the Hennepin County Medical Center says. CBS News Minnesota's Conor Wight reports. Then, CBS News' Jonah Kaplan joins with more.
Navy vet reclaims his historic hiking title
A retired Navy veteran set a record as the oldest person to ever finish hiking along the 2,200-mile-long Appalachian Trail in 2017. After a friend took his title in 2021, Dale Sanders reclaimed it this week. Tony Dokoupil has the story.
U.S. strikes on alleged drug boats draw criticism
Brian Finucane, senior adviser for the U.S. program at the International Crisis Group, joins "The Daily Report" to analyze the Trump administration's deadly campaign against alleged drug-smuggling boats.
Police find bobcat in woman's home
When a 93-year-old woman near Seattle heard strange noises in her house last month, she called the cops to report a prowler. Police found an unexpected intruder - a bobcat. Carter Evans has the story.