BofA Expands Rewards Program in a Bid to Lure More Customers

Bank of America Corp. is broadening the scope of its rewards program to encourage customers to do more business with the company, part of an effort to reach lofty financial targets it promised investors last year.

The lender is giving clients with checking accounts access to rewards and discounts, regardless of their balance, Bank of America executives said. Previously, customers needed a minimum of $20,000 to qualify for the first tier of rewards, which step up in value as more money is kept with the bank.