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Bank of America customers made $335 billion in payments in January -Breaking

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© Reuters. One person passes a Bank of America sign on Manhattan, New York City. January 19, 2022. REUTERS/Carlo Allegri

NEW YORK, Reuters -Bank of America reported Monday that its customers paid $335 billion total in January payments. This is 17% more than January 2021.

According to the bank, credit and debit card spending rose 16% to $65 Billion, while credit card spending rose 28%.

According to a bank executive, the strong spending numbers are positive signs for the economy as well as the consumer.

Mary Hines Droesch Head of Consumer and Small Business Products Bank of America (NYSE): “Our clients’ checking and saving deposit balances increased also 15% year-overyear.” These trends are good news for the economy, as we continue to move forward in 2022.

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