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 ?
NationsBank") at the time that the August 4, 1998 Proxy/Prospectus concerning NationsBank's merger with BankAmerica Corp.
DCR) has assigned a rating of `A+' (Single-A-Plus) to BankAmerica Corp.
NationsBank Corporation and BankAmerica Corporation merged on September 30, 1998, into the new BankAmerica Corporation (Bank of America).
and SAN FRANCISCO, July 26 /PRNewswire/ -- Ford Motor Company (NYSE: F) and BankAmerica Corporation (NYSE: BAC) today announced that they have reached agreement for BankAmerica Leasing and Capital Group affiliates to acquire the Transportation and Industrial Financing (T&I) leasing portfolio of USL Capital Corporation, a Ford subsidiary.
All e-mail correspondence should make reference to BankAmerica.
The suit, filed four days after BankAmerica was sued by the city of San Francisco for at least $12 million, charges the bank with conspiracy, unfair business practices and breach of contract, among other claims.
If you purchased or otherwise acquired BankAmerica securities between October 1, 1998 and October 13, 1998, and are a member of the class described above, you may, not later than 60 days from today, move the court to serve as lead plaintiff of the class, if you so choose.
The Coldiron suit, filed in Los Angeles Superior Court in June 1994, said BankAmerica and Great Western charged as much as $65 in fees for reconveying titles to borrowers but failed to perform this service in the time mandated by state laws, the suit said.
Rosenberg was appointed chairman and chief executive officer of BankAmerica in 1990 and served until 1996.
McColl, currently chairman and chief executive officer of NationsBank Corporation, and David Coulter, chairman and chief executive officer of BankAmerica Corporation who is to become president of the new company, also are on the new board.
a global leader in business and technology consulting (NASDAQ:REGI), today announced the completion of a 3 year, $150,000,000 Senior Credit Facility agreement with BankAmerica.
BankAmerica can be reached on the Internet at http://www.