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 ?
In separate, coordinated actions, the Office of the Comptroller of the Currency announced the execution of a formal agreement with Bank of America, N.A., Charlotte, North Carolina, a wholly owned subsidiary of Bank of America Corporation, and the U.S.
Romero, a former US ambassador to Spain under President Bill Clinton, has joined the Bank of America Corporation's board of directors.
and Bank of America Corporation announced their intent to combine resources and create Financial ServiceSolutions Information Systems, LLC, a mortgage technology-related 50/50 joint venture between the two companies.
Norwest was followed by Bank of America Corporation and Countrywide Home Loans Corporation.
The board of directors of Bank of America Corporation (NYSE:BAC) authorised a regular common stock cash dividend of USD0.15 per share for the quarter, the company declared on Thursday.
Bank of America Corporation has announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of USD 0.12 per share, payable December 29 to shareholders of record as of December 1, the company said.
A revenue slowdown, which has forced banks to cut costs, has led Bank of America Corporation to lay off almost two dozen senior executives and directors in its Asian Investment Banking arm.
US securities and investment-banking firm Jefferies Group Inc (NYSE: JEF) has named Michael Old from Bank of America Corporation (NYSE: BAC) as a managing director in real estate investment banking.
Boston, Massachusetts, and San Francisco, California, on the proposal by Bank of America Corporation, Charlotte, North Carolina, to merge with FleetBoston Financial Corporation, Boston, Massachusetts.
Bank of America Corporation is a bank holding company and a financial holding firm.
The board of directors of Bank of America Corporation said it has declared a regular quarterly cash dividend of USD18.125 per share on the 7.25 percent non-cumulative perpetual convertible preferred stock, Series L, payable on July 30 to shareholders of record as of July 1.
Bank of America Corporation (NYSE: BAC), the US's biggest bank by assets, is planning to eliminate 1,500 jobs in its mortgage origination business and shift another 350 jobs from creating new home loans to handling existing troubled loans, Dow Jones has reported, citing a spokesman for the bank.