Bank Of America History

Bank of America is an international and widely known banking and financial corporation. Its headquarters are located in Charlotte, North Carolina, and the Bank of America is the second largest bank holding company in the United States of America. A bank holding company is a company that owns and controls one or more banks, but does not necessarily take part in the act of banking itself. This gives it a greater range of flexibility that enables it to raise capital for itself more easier than a traditional bank. Other benefits include: “The holding company can assume debt of shareholders on a tax free basis, borrow money, acquire other banks and non-bank entities more easily, and issue stock with greater regulatory ease.”. In essence, this grants the bank holding company a much more freely moving business that has a distinct advantage over its lesser bank brethren. Bank of America has a variety of interesting topics that will be extensively and thoroughly covered. These include Bank of America’s history, its financial and stock analysis, its multitude of operations, and the large number of controversies that surround the Bank. Once the said topics have been rigorously and exhaustively described, the beautiful conclusion will rear its head and allow the reader to bask in the satisfaction of finishing this extremely interesting paper.

The history of Bank of America is long and detailed, with more events that took place than many other businesses possess. From its humble beginnings in San Francisco to its massive international expansion to the rest of the four corners of the Earth, Bank of America has come a long way from its modest inception. It all begins with an Italian immigrant who created a bank named The Bank of Italy in San ...

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...United States of America’s federal government to continue on with the deal. Luckily, however, Bank of America convinced the federal government to pay for this, as it was within the agreement that they had struck up with them at the time of the acquisition. Later in that year, an investigation was held regarding the government’s alleged threats towards both Bank of America and Merrill Lynch in regards to the fact that both claimed they were pressured and forced into the deal. The CEO of Bank of America, Kenneth Lewis, gave his testimony before Congress that he had in fact not agreed with the acquisition of Merrill Lynch given their current losses, but was threatened into the agreement by federal officials. According to emails that were later subpoenaed by the House Oversight Committee, it turned out that Richmond’s Federal Reserve president Jeffrey Lacker had in fact