Bank Of America Research Paper

financial banking and multinational ) is an AmericanBofA (abbreviated as Bank of Americabank . It is the second largestCharlotte, North Carolinacorporation headquartered in services-As of 2013, Bank of America is the twenty [6]in the United States by assets. holding company listed Bank of Forbes first largest company in the United States by total revenue. In 2010,[7]America as the third biggest company in the world. made Bank of America the world's Merrill Lynch The bank's 2008 acquisition ofinvestment corporation and a major player in the wealth management largestPrivate Banking According to the Scorpio Partnership Global [8]market. banking2014 it had assets under management (AuM) of 1,866.6 (USD Bn) an increase of Benchmark[9]12.5% on 2013.

Bank of America has been the subject of several lawsuits and investigations regarding both mortgages and financial disclosures dating back to the financial crisis, including a record settlement of $16.65 billion on August 21,

Its first branch outside San Francisco was established in 1909 in San Jose. By 1929, the bank had 453 banking offices in California with s a replica of the 1909 Bank of Italy There i [24]aggregate resources of over US$1.4 billion.is an important Bank of Italy Building in San Jose, and the 1925 History Park branch bank indowntown landmark. Giannini sought to build a national bank, expanding into most of the western states as well as into the insurance industry, under the aegis of his holding . In 1953, regulators succeeded in forcing the separation Transamerica Corporation company,The [25].Clayton Antitrust Act and Bank of America under the Transamerica Corporation of-non banks from owning prohibited Bank Holding Company Act of 1956 passage of thesuch as insurance companies. Bank of America and Transamerica were banking subsidiariesseparated, with the latter company continuing in the insurance business. However, federal banking regulators prohibited Bank of America's interstate banking activity, and Bank of America's domestic banks outside California were forced into a separate company that in Wells Fargo and Company , later acquired byFirst Interstate Bancorp eventually became1996. It was not until the 1980s with a change in federal banking legislation and