Bank of America

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Bank of America

One of the largest banks in the United States. It traces its origins to the Bank of Italy in the early 20th century, which served immigrants in San Francisco. It grew to serve all of California and, through a number of acquisitions, spread throughout the United States. In the 1990s, while named BankAmerica, it lent a hedge fund more than $1 billion; when this hedge fund lost out in the Russian financial crisis, the bank was bought by NationsBank, which took the name Bank of America. It bought MBNA, at the time the world's largest credit card issuer, in 2005. In 2008, it acquired Merrill Lynch, which was near bankruptcy, after pressure from U.S. authorities. In 2008 and 2009 it received a federal bailout worth more than $150 billion in cash and guarantees.
References in periodicals archive ?
As per the deal Bank of America Corporation Merrill Lynch worked out an option for buying and selling United Nations certified carbon credits, each one representing one ton of carbon dioxide.
The revenue from the Bank of America Corporation option premium allows CleanStar, the Maputo, Mozambique-based venture running the project, to raise additional debt and equity.
Bank of America Merrill Lynch makes available investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation or in which Bank of America Corporation has a substantial economic interest, including Columbia Management, BlackRock, and Nuveen Investments.
Bank of America Corporation stock is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
CONTACT: Eloise Hale of Bank of America Corporation, +1-704-387-0013, or eloise.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation.
30 /PRNewswire/ -- Bank of America Corporation today announced the pricing of the sale of 74 million Depositary Shares, representing fractional interests in its Floating Rate Non-Cumulative Preferred Stock, Series E, at a price of $25.
CONTACT: Christopher Feeney of Bank of America Corporation, +1-704-386-6794, or Christopher.
29 /PRNewswire/ -- Bank of America Corporation, as successor to Fleet Boston Financial Corporation, announced the redemption of its 7.
21 /PRNewswire/ -- Bank of America Corporation, as successor to MBNA Corporation, announced the redemption of its 8 1/4 percent Trust Originated Preferred Securities issued by MBNA Capital C.
July 26 /PRNewswire/ -- Bank of America Corporation today announced the pricing of an offering of $750 million aggregate liquidation amount of capital securities of BAC Capital Trust XII.
Proxy Statement on Form DEF 14A of Bank of America Corporation as