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Bank of America is warning customers that accounts not meeting requirements may be canceled, with dormant accounts potentially turned over to the state under escheat laws. Customers planning large payments via Zelle should be aware of daily and monthly limits of $3,000 and $20,000, respectively, to avoid missing financial obligations.
Bank of America has issued a warning to customers about account cancellations due to inactivity, stating that accounts deemed "abandoned" after three years may be blocked or have funds transferred to state custody. To avoid this, customers are encouraged to regularly log in and set up alerts to monitor their account activity. The bank's policy aligns with state laws regarding unclaimed assets, which apply to various account types, including savings and retirement accounts.
Dollar Tree is selling its struggling Family Dollar chain to Brigade Capital Management and Macellum Capital Management for $1 billion, a significant drop from the $9 billion it paid a decade ago. The decision aims to unlock shareholder value and address operational challenges, including store closures and management issues. Analysts view the sale as a necessary step to reposition Family Dollar for future success amid ongoing economic pressures and competition from larger retailers.
Big Lots, after a turbulent year marked by financial struggles, has been acquired by Gordon Brothers Retail Partners, ensuring the operation of hundreds of stores. The retailer faces challenges adapting to consumer preferences and competition from giants like Walmart and Dollar General, necessitating a rethinking of its merchandise strategy and digital investments to enhance customer engagement and experience. With the backing of Gordon Brothers, Big Lots has a chance to innovate and redefine its identity in the retail landscape.
Donald Trump has appointed former senator David Perdue as ambassador to China, emphasizing his extensive international business experience and ties to the region. This choice contrasts with other national security appointments, suggesting a focus on economic diplomacy rather than traditional approaches. Perdue's past support for trade agreements and his corporate background raise questions about his influence on Trump's aggressive trade policies and relations with China.
U.S. stock futures showed little movement after the S&P 500 and Nasdaq reached new closing highs, with the Dow Jones Industrial Average also surpassing 45,000 for the first time. American Eagle's shares dropped over 13% due to a weak holiday forecast, while Five Below surged 14% following strong earnings. Investors are awaiting key economic data, including jobless claims and nonfarm payrolls, as the Fed signals a cautious approach to rate cuts amid a robust economy.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
bank of america warns customers of account cancellations and payment limits
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13:00 29.03.2025
bank of america warns customers about account cancellations due to inactivity
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