Jim Cramer: Bank of America Has Superior Technology Than Other Banks
Jim Cramer said Bank of America has better technology than Wells Fargo and JPMorgan Chase.
TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer says Bank of America (BAC) - Get Report has better technology than Wells Fargo (WFC) - Get Report and JPMorgan Chase (JPM) - Get Report . 'They just crossed 20 million cell phone bankers,' Cramer said. 'You can't justify having all of those bricks-and-mortar operations - but they are adding to digital.' On Wednesday, reports suggest the bank is about to cut 8,000 jobs, which include tellers at its physical locations and back-office personnel. Cramer said Bank of America's move is a matter of putting resources in the places where millennials flock to.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.
