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Australia And New Zealand Banking Group - Australia New Zealand Bank

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The <b>Australia and New Zealand Banking Group Limited</b>, commonly called <b>ANZ</b>, is the third largest bank by market capitalisation in Australia, after the Commonwealth Bank and Westpac Banking Corporation. Australian operations make up the largest part of ANZ's business, with commercial and retail banking dominating. ANZ is also the largest bank in New Zealand, where the legal entity became known as ANZ National Bank Limited in 2003 and changed to ANZ Bank New Zealand Limited in 2012. From 2003 to 2012 it operated two brands in New Zealand, ANZ and the National Bank of New Zealand. The National Bank brand was retired in 2012, with a number of branches closing and others converting to ANZ branches.<br />
In addition to operations throughout Australia and New Zealand, ANZ also operates in thirty other nations.<br />
ANZ was named the most sustainable bank globally in the 2008 Dow Jones Sustainability Index making it the 2nd year in a row ANZ has been granted the title. In 2007 the title was shared with another Australian bank, Westpac, which had held the title for the previous five years.<br />
ANZ was established on 1 October 1951, when the Bank of Australasia merged with the Union Bank of Australia Limited.<br />
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<h2>
<span id="History">History</span></h2>
<br />
<center>
<iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/IHMVxllabiU/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/IHMVxllabiU?feature=player_embedded" width="320"></iframe><br /><br />Cooperation with Australia and New Zealand Banking Group Limited (ANZ) - In November 2013, Vontobel and Australia and New Zealand Banking Group Limited (ANZ) signed a cooperation agreement based on a long-term strategic ...</center>
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<h3>
<span id="19th_century">19th century</span></h3>
<ul>
<li>1835: ANZ began in Launceston, Tasmania when The Bank of Australasia was established under a Royal Charter granted in London on 2 March 1835</li>
<li>1837: The Union Bank of Australia was established. This was an Anglo-Australian bank</li>
<li>1852: The English, Scottish and Australian Bank (ES&A) was established in 1852. This was an Anglo-Australian</li>
</ul>
<h3>
<span id="1950-60s">1950-60s</span></h3>
<ul>
<li>1951: The Bank of Australasia merges with the Union Bank of Australia to form ANZ Bank</li>
<li>1963: Establishes first computer systems in new data processing centre in Melbourne, Australia</li>
<li>1966: Starts operations in Honiara, Solomon Islands</li>
<li>1968: Opens office in New York, USA</li>
<li>1969: Establishes representative office in Tokyo, Japan</li>
</ul>
<h3>
<span id="1970s">1970s</span></h3>
<ul>
<li>1970:<ul>
<li>In what was then the largest merger in Australian banking history, ANZ merged with the English, Scottish and Australian Bank Limited to form the present organisation, Australia and New Zealand Banking Group Limited</li>
<li>Starts operations in Vanuatu</li>
</ul>
</li>
<li>1971: Opens representative office in Malaysia</li>
<li>1976: ANZ (PNG) established</li>
<li>1977: ANZ incorporated in Australia (transfer from UK)</li>
<li>1979: Acquires the Bank of Adelaide</li>
</ul>
<h3>
<span id="1980s">1980s</span></h3>
<ul>
<li>1980: Singapore and New York representative offices upgraded to branch status</li>
<li>1984: Purchases Grindlays Bank</li>
<li>1985:<ul>
<li>Acquires Barclaysâ€™ operations in Fiji and Vanuatu</li>
<li>Receives full commercial banking licence and opens branch in Frankfurt, Germany</li>
<li>Announces ANZ Singapore Limited</li>
<li>Opens representative office in Bangkok, Thailand</li>
</ul>
</li>
<li>1988:<ul>
<li>Opens branch in Rarotonga, Cook Islands</li>
<li>Opens branch office in Paris, France</li>
</ul>
</li>
<li>1989: Purchases PostBank from New Zealand Government</li>
</ul>
<h3>
<span id="1990s">1990s</span></h3>
<ul>
<li>1990:<ul>
<li>Acquires National Mutual Royal Bank Limited</li>
<li>Acquires Lloydsâ€™ operations in Papua New Guinea</li>
<li>Acquires Bank of New Zealandâ€™s operations in Fiji</li>
<li>Acquires Town and Country Building Society in Western Australia</li>
</ul>
</li>
</ul>
<ul>
<li>1991:<ul>
<li>Acquires 75 per cent of Bank of Western Samoa</li>
<li>Opens representative office in the Philippines</li>
</ul>
</li>
</ul>
<ul>
<li>1993:<ul>
<li>New world headquarters built in Melbourne, Australia</li>
<li>Joint venture established with PT Panin Bank, Indonesia</li>
<li>Opens a branch in Hanoi and a representative office in Ho Chi Minh City, Vietnam</li>
<li>Opens a branch in Shanghai and a representative office in Guangzhou, China</li>
<li>Starts operations in Tonga</li>
<li>Sold Canadian operations to HSBC Bank Canada</li>
</ul>
</li>
</ul>
<ul>
<li>1995:<ul>
<li>Opens a commercial banking branch in Manila, Philippines, the first Australian and New Zealand bank to do so</li>
</ul>
</li>
</ul>
<ul>
<li>1996:<ul>
<li>www.anz.com launched</li>
<li>ANZ opens its second Vietnamese branch at Ho Chi Minh City</li>
</ul>
</li>
</ul>
<ul>
<li>1997:<ul>
<li>John McFarlane appointed Chief Executive Officer</li>
<li>ANZ Phone Banking launched</li>
<li>Official opening of Beijing branch, China</li>
<li>Bank of Western Samoa changes its name to ANZ Bank (Samoa)</li>
</ul>
</li>
<li>1998: Acquires stake in PT Panin Bank, Indonesia</li>
</ul>
<ul>
<li>1999:<ul>
<li>ANZ Internet Banking launched</li>
<li>ANZ announces strategic alliance with E*Trade Australia for online share trading service</li>
<li>Purchases Amerika Samoa Bank (Approved 2000)</li>
</ul>
</li>
</ul>
<h3>
<span id="21st_century">21st century</span></h3>
<ul>
<li>2000:<ul>
<li>ANZ sells its Grindlays businesses in the Middle East and South Asia, and associated Grindlays Private Banking business, to Standard Chartered</li>
<li>Granted local currency (Renminbi) licence from the Peopleâ€™s Bank of China</li>
</ul>
</li>
<li>2001:<ul>
<li>Acquires 75 per cent of Bank of Kiribati</li>
<li>ANZ Timor Leste opens</li>
<li>Establishes cards business in Hong Kong</li>
</ul>
</li>
<li>2002:<ul>
<li>Forms joint venture with ING Group for funds management and life insurance business in Australia and New Zealand</li>
<li>One millionth customer registers for ANZ Internet Banking in Australia</li>
</ul>
</li>
<li>2003: Acquires National Bank of New Zealand</li>
<li>2005: Establishes ANZ Royal Bank in Cambodia, a joint venture with the Cambodian-based Royal Group company</li>
<li>2006: New world headquarters announced for Melbourne Docklands near the headquarters of the National Australia Bank</li>
<li>2007:<ul>
<li>ANZ wins Money Magazine "Bank of the Year" award again after having been ousted by the National Australia Bank in 2006</li>
<li>ANZ acquires E*Trade Australia</li>
<li>Mike Smith, formerly of HSBC, assumes the role of CEO with the retirement of John McFarlane on 1 October 2007</li>
<li>ANZ acquires Citizen Securities Bank (Guam)</li>
<li>ANZ takes over from telecommunications company Telstra as naming rights sponsor for Sydney's Stadium Australia.</li>
</ul>
</li>
<li>2009:<ul>
<li>25 September 2009 Announced it will buy out ING Group's 51% stake of the JV, ING Australia giving ANZ 100% control of ING Australia.</li>
<li>12 November 2009 ANZ opens new ANZ Centre headquarters in Docklands, Melbourne</li>
<li>1 December 2009 ANZ officially gain full ownership of ING Australia.</li>
</ul>
</li>
<li>2010:<ul>
<li>November 2010, ING Australia renamed OnePath</li>
<li>ANZ acquires RBS (Royal Bank of Scotland)'s interests in Hong Kong, Taiwan, Singapore and Indonesia, which were part of and traded as ABN-AMRO prior to RBS' acquisition of the Dutch bank in 2009.</li>
</ul>
</li>
<li>2012<ul>
<li>Announces retirement of the National Bank brand in New Zealand</li>
</ul>
</li>
<li>2013<ul>
<li>Becomes the first bank to reopen in the Christchurch CBD following the 2011 earthquakes</li>
</ul>
</li>
</ul>
<h2>
<span id="Organisational_structure">Organisational structure</span></h2>
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<img alt="ANZ | TopNews" src="http://www.topnews.in/files/anz.jpg" title="ANZ | TopNews" /></div>
<b>Australia</b><br />
<ul>
<li>Retail Products</li>
<li>Retail Distribution</li>
<li>Commercial Banking</li>
<li>Wealth (including ETrade in Australia and OnePath)</li>
</ul>
<b>New Zealand</b><br />
<ul>
<li>ANZ Bank New Zealand<ul>
<li>ANZ Bank</li>
<li>UDC Finance</li>
<li>Bonus Bonds</li>
<li>Direct Broking - Share trading</li>
<li>OnePath New Zealand</li>
</ul>
</li>
</ul>
<b>Institutional Banking</b><br />
<ul>
<li>Institutional banking</li>
<li>Corporate Finance</li>
<li>Working Capital</li>
<li>Corporate banking</li>
<li>Economics@ANZ</li>
</ul>
<b>Asia and Pacific</b><br />
<ul>
<li>International Partnerships</li>
</ul>
<h2>
<span id="Asia-Pacific">Asia-Pacific</span></h2>
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<img alt="Banks in New Zealand | kiwi faq" src="http://www.kiwifaq.com/wp-content/uploads/2015/01/anz-bank-new-zealand-branch.jpg" title="Banks in New Zealand | kiwi faq" /></div>
ANZ is one of the leading Australian banks in the Asia-Pacific region. It has been aggressive in its expansion into the emerging markets of China, Vietnam and Indonesia. ANZ is also a leading bank in New Zealand as well as several Pacific Island Nation where it competes in many markets with fellow Australian bank, Westpac. ANZ's arm in New Zealand is operated through a subsidiary company, ANZ National Bank, from 2003 to 2012, when it changed to ANZ Bank New Zealand upon merging the ANZ and National Bank brands.<br />
In March 2005, it formed a strategic alliance with Vietnam's Sacombank involving an acquisition of 10% of Sacombankâ€™s share capital. As part of the strategic alliance, ANZ will provide technical assistance in the areas of risk management and retail and small business banking.<br />
ANZ has followed a similar strategy in China, where it acquired a 20% share in Tianjin City Commercial Bank in July 2006. It also negotiated a similar deal with Shanghai Rural Commercial Bank.<br />
In August, ANZ purchased RBS's retail units in Taiwan, Singapore, Indonesia and Hong Kong, as well as RBS'si banking businesses in Taiwan, the Philippines and Vietnam. It was purchased for the price of A$687 million.<br />
In 2008 ANZ was awarded Deal of the Year - Project Finance Deal of the Year at the <i>2008 ALB Hong Kong Law Awards</i>.<br />
As of September 2012, the company had a total of 1,337 branches worldwide.<br />
<h2>
<span id="Offshoring_of_jobs">Offshoring of jobs</span></h2>
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<img alt="anz-bank-australia-new-zealand-banking-group-auckland-sep-young ..." src="https://s-media-cache-ak0.pinimg.com/736x/a6/bf/9b/a6bf9bd195f90c6a9cc718b97df9dd15.jpg" title="anz-bank-australia-new-zealand-banking-group-auckland-sep-young ..." /></div>
ANZ have been progressively increasing work output from offshore offices. ANZ's Bangalore office has been operational since 1989, making it one of the first organisations to employ IT staff based in India. ANZ employs around 4,800 staff in Bangalore, India. 1500 IT positions, 2000 positions in Payments and Institutional Operations and International and High Value Services and 1300 positions in Operations Personal Banking have been shifted from Melbourne to India. In 2006, ANZ predicted that by 2010, over 2000 jobs would have been shifted from Australia to Bangalore. In 2012 ANZ has transferred 360 permanent staffs from Melbourne and Bangalore to Capgemini. All these staff worked in the Technology Testing and Environment Space. As ANZ CIO Anne announced earlier that ANZ want a Hybrid model of technology in order to achieve the 2017 Technology roadmap.<br />
<h2>
<span id="Advertising">Advertising</span></h2>
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<div class="mobile-photo">
<img alt="Australia banks sweeten hybrid securities as supply glut looms ..." src="http://cdn4.scmp.com/sites/default/files/styles/980w/public/2015/02/22/anz.jpg%3Fitok%3Db-SERf8P" title="Australia banks sweeten hybrid securities as supply glut looms ..." /></div>
In 2005 an advertisement included two famous robots: Lost in Space robot, and a Dalek from Doctor Who, although the Dalek was replaced in subsequent versions of the ad.<br />
In 2006 the company started a TV campaign with a series of ads featuring their new mascot - the Falcon, a bird trained to stop credit card thieves, illustrating the company's measures in prevention of credit card fraud.<br />
In 2010, ANZ ran an ad campaign parodying common banking scenarios with a fictional character known as 'Barbara who lives in Bank World', a middle-aged, rude, sarcastic and unhelpful bank manager. The adverts have received acclaim for wit and humour, but also criticism for stereotyping bank managers. Barbara is portrayed by Australian comedian Genevieve Morris.<br />
In 2011, a series of ads were fronted by Simon Baker, the star of the American television show The Mentalist.<br />
<h2>
<span id="New_headquarters">New headquarters</span></h2>
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<img alt="ANZ Bank Suspends Staff Amid Rate-Fixing Investigation - WSJ" src="http://si.wsj.net/public/resources/images/BN-FK216_1106an_J_20141105214644.jpg" title="ANZ Bank Suspends Staff Amid Rate-Fixing Investigation - WSJ" /></div>
In September 2006, plans were unveiled for ANZ's new world headquarters to be located in Melbourne's Docklands precinct. The complex features a vast low rise office building, shops, car and bicycle parking facilities. The new complex will enable 6,500 ANZ staff to work in one integrated area, however the company will maintain its flagship building, 100 Queen Street Melbourne. The new headquarters is the largest office complex in Australia at 84,500 mÂ² NLA, 130,000 sqm GFA and an accredited 6 Green Star Building. Construction commenced in late 2006 and the building opened in late 2009. The building is located at 833 Collins Street. It has been designed by HASSELL & Lend Lease Design - fronting the Yarra River.<br />
In 2006, it was expected to cost A$478 million to build, but ended up costing $750 million by the time it was complete in 2009.<br />
The building was one of the winners at the 2010 World Architecture Festival in the category "Interiors and Fit Out of the Year".<br />
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<img alt="Top 10 Banks In Australia | Leadership | Business Review Australia" src="http://i.imgur.com/db4fteb.jpg" title="Top 10 Banks In Australia | Leadership | Business Review Australia" /></div>
<h2>
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Australia And New Zealand Banking Group - Australia New Zealand Bank

The Australia and New Zealand Banking Group Limited , commonly called ANZ , is the third largest bank by market capitalisation in Austra...

Capitol Federal Savings Bank

Nahara Narnia 0 Capitol Federal Savings Bank 11:51 PM

<img height="240" src="http://www.gdavisandassociates.com/data/photos/175_1Capital_Federal_Savings_2.jpg" width="320" /><br />
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<b>Capitol Federal Savings Bank</b> is a federally chartered and insured savings bank founded in 1893 and is headquartered in Topeka, Kansas. Capitol Federal currently has 37 branch locations and 10 in-store branches, serving primarily the metropolitan areas of Topeka, Wichita, Lawrence, Manhattan, Emporia and Salina, Kansas and both the Kansas and Missouri sides of the greater Kansas City metropolitan area.<br />
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<h2>
<span id="Lines_of_business">Lines of business</span></h2>
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<center>
<iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/kTPpRc6k_i8/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/kTPpRc6k_i8?feature=player_embedded" width="320"></iframe><br /><br />Capitol Federal Bank Commercial - Commercial Spot for Capital Federal Savings Bank.</center>
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Capitol Federal is the premier residential lender in Kansas with more than $9 billion in assets. Capitol Federal offers:<br />
<ul>
<li>Single-family residential lending</li>
<li>Construction loans and other consumer loans</li>
<li>Checking accounts</li>
<li>Savings accounts</li>
<li>Money market accounts</li>
<li>IRAs</li>
<li>Certificates of Deposit</li>
</ul>
<h2>
<span id="History">History</span></h2>
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<img alt="1389910363050.jpg" src="http://www.capfed.com/content/site/en/home/bankanywhere/mobileBanking/text-banking/_jcr_content/centertoppar/image_0.img.jpg/1389910363050.jpg" title="1389910363050.jpg" /></div>
Throughout its history, Capitol Federal has maintained its commitment to the American dream of homeownership and dedication to its corporate philosophy of Safety in Savings, Sound Lending Policies, Quality Customer Service and Commitment to Community.<br />
<b>Highlights</b><br />
<b>September 16, 1893</b><br />
A group of 15 men gathered for the first time to form a savings and loan.<br />
<b>July, 1899</b><br />
The Association changed its name to the Capitol Building and Loan Association.<br />
<b>1926</b><br />
Henry A. Bubb was hired.<br />
<b>1938</b><br />
Capitol Building and Loan Association changed its name to Capitol Federal Savings and Loan Association. In difficult times, the Association stood at $6 million in total assets, half of what it had been prior to the Crash of 1929. Although these were challenging times, the Association came out stronger, leading to an era of success.<br />
<b>1941</b><br />
Capitol Federal Board of Directors named Henry A. Bubb as President of the Association.<br />
<b>1943</b><br />
The Association became â€œthe largest federally insured association in the state.â€<br />
<b>1950</b><br />
Assets grew to more than $19 million; and the first branch office in Kansas was opened at 1201 Topeka Boulevard in Topeka.<br />
<b>1958</b><br />
Assets reached $100 million.<br />
<b>March 1959</b><br />
John C. Dicus joined the Association<br />
<b>1960</b><br />
Capitol Federal installed its first "computer" - a Univac "tab" machine - in the Home Office at 6th and Kansas in Topeka.<br />
<b>December 9, 1961</b><br />
Capitol Federal's new Home Office opened at 700 South Kansas Avenue in Topeka on December 9, 1961. The office reflected the times with the inclusion of a Civil Defense bomb shelter in the basement.<br />
<b>1972</b><br />
CapFed took the lead in technological advances with the installation of an online data processing system.<br />
<b>1974</b><br />
The Association introduced the Passcard.<br />
<b>1975</b><br />
Association became second savings and loan association in the nation to offer customers off-premise access to their accounts.<br />
<b>1977</b><br />
Capitol Federal reached $1 billion in assets.<br />
<b>1989</b><br />
Chairman Henry A. Bubb died in January 1989. John C. Dicus was then named Chairman.<br />
<b>1993</b><br />
Capitol Federal reached its 100th anniversary, with assets of more than $3.9 billion.<br />
<b>October 1996</b><br />
John B. Dicus was elected President, with John C. Dicus continuing as Chairman and CEO.<br />
<b>March 31, 1999</b><br />
Capitol Federal's Plan of Reorganization and Stock Issuance Plan is successfully completed, transforming Capitol Federal from a mutual savings association to a stock savings bank. Capitol Federal Savings and Loan Association now known as Capitol Federal Savings Bank. The Capitol Federal Foundation was established, as part of the reorganization.<br />
<b>2001</b><br />
Capitol Federal introduced True Blue Online<br />
<b>January 2009</b><br />
John C. Dicus honored for 50 years of service to Capitol Federal. Due to the board's mandatory retirement age, John C. Dicus retired as Chairman from the board, continuing as Chairman Emeritus. John B. Dicus was elected Chairman of the board, now serving as Chairman, President and CEO.<br />
<b>2010</b><br />
The year 2010 was highlighted by the second-step conversion from a mutual holding company form of organization to a stock form of organization, completed in December 2010. At that time, Capitol Federal Financial was succeeded by Capitol Federal Financial, Inc.<br />
<b>2013</b><br />
During the Capitol Federal Financial, Inc. annual meeting in January 2014, Chairman Dicus announced results from Fiscal Year 2013, including total assets of $9.19 billion, total loans of $5.96 billion, and total deposits of $4.61 billion.<br />
<h2>
<span id="Community_Involvement">Community Involvement</span></h2>
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<img alt="Dicus family honored as top philanthropist | CJOnline.com" src="http://cjonline.com/sites/default/files/imagecache/superphoto/8584257.jpg" title="Dicus family honored as top philanthropist | CJOnline.com" /></div>
The Capitol Federal Foundation was established to benefit the communities in which Capitol Federal operates. The Foundation is committed to improving the quality of life in these communities by investing in the citizens of today and tomorrow. The main areas of focus for accomplishing this mission are education, community development, the United Way and other charitable purposes.<br />
<h2>
<span id="References">References</span></h2>
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<img alt="Fed Sets Tough New Capital Rule for Big Banks - WSJ" src="http://si.wsj.net/public/resources/images/BN-FY170_1209fe_J_20141209151958.jpg" title="Fed Sets Tough New Capital Rule for Big Banks - WSJ" /></div>
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Capitol Federal Savings Bank

Capitol Federal Savings Bank is a federally chartered and insured savings bank founded in 1893 and is headquartered in Topeka, Kansas. Ca...

Provident Bank Of New Jersey - The Provident Bank

Nahara Narnia 0 Provident Bank Of New Jersey, The Provident Bank 11:50 PM

<img height="240" src="https://www.njcu.edu/programs/jchistory/Images/P_Images/Provident_Bank/Provident_Bank_B_AS_2003.jpg" width="320" /><br />
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<b>Provident Financial Services, Inc.</b> is the holding company for <b>The Provident Bank</b>. Established in 1839, The Provident Bank emphasizes personal service and customer convenience in attending to the financial needs of businesses, individuals and families in 11 counties in northern and central New Jersey. The bank offers a broad array of deposit, loan, and investment products as well as trust, fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company.<br />
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<h2>
<span id="Corporate_information">Corporate information</span></h2>
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<center>
<iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/RfOJw-vm6K8/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/RfOJw-vm6K8?feature=player_embedded" width="320"></iframe><br /><br />Provident Bank TV Commercial - The Marcus Group produced this TV commercial for Provident Bank in New Jersey. The spot highlights the bank's new tagline -- Commitment you can count on ...</center>
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<h3>
<span id="Origin_of_corporate_name">Origin of corporate name</span></h3>
<h2>
<span id="Corporate_history">Corporate history</span></h2>
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<div class="mobile-photo">
<img alt="The Provident Bank Foundation Supports Affordable Housing Build ..." src="http://cdn.patch.com/users/22086235/2014/07/T800x600/d82895d80bb69efbd7fa32e326637974.jpg" title="The Provident Bank Foundation Supports Affordable Housing Build ..." /></div>
The <b>Provident Institution for Savings</b> was originally chartered by the State of New Jersey in 1839, becoming the first mutual savings bank in the history of the state. The first President was John F. Ellis from 1839 to 1841. Co-founder Dudley S. Gregory became President in 1841 and held the job until his retirement in 1874. Due to the general public mistrust of banks resulting from the Panic of 1837, it did not accept its first deposit of $227 until October 16, 1843. The Provident was run out of a room in Jersey City's Temperance Hall until moving to the office of Treasurer Peter Bentley in 1846. By 1875, Provident had assets of $3.5 million.<br />
A run on the bank occurred on May 12, 1882 following the attempted suicide of Edmund W. Kingsland, the bank's Treasurer, in his office. The run on the bank ceased when an independent audit proved all accounts were in order. Mr. Kingsland survived the suicide attempt.<br />
In 1989, The Provident Savings Bank celebrated its 150th anniversary.<br />
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<h3>
<span id="Acquisition_of_The_First_National_Bank_of_Dunellen">Acquisition of The First National Bank of Dunellen</span></h3>
In 1978, Provident acquired the First National Bank of Dunellen. This was a pioneering move. No one had ever heard of a savings bank buying out a commercial bank. When the deal was complete, however, Provident had increased its assets by $20 million and added two new branch offices â€“ Dunellen and Green Brook.<br />
<h3>
<span id="Merger_with_Bloomfield_Savings_Bank">Merger with Bloomfield Savings Bank</span></h3>
Controlled growth solidified Providentâ€™s status as a stalwart financial institution. A landmark event in the history of both Provident and its neighboring competitor Bloomfield Savings Institution was marked in 1983 when they announced a merger that would create a billion-dollar plus bank.<br />
<h3>
Team Capital</h3>
IN 2014 Provident merged with Team Capital.<br />
<h2>
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<img alt="The Provident Bank | LinkedIn" src="http://image-store.slidesharecdn.com/6f5b2c11-cf9e-4a47-99e4-e2cc424f93ea-large.jpeg" title="The Provident Bank | LinkedIn" /></div>
<ul>
<li>Provident Institution for Sav. v. Mayor of Jersey City</li>
</ul>
<h2>
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<img alt="PROVIDENT BANK SUPPORTS MORRIS HABITAT FOR HUMANITY | Morristown ..." src="http://cdn.patch.com/users/848692/2014/09/T800x600/540cfe0f38a34.jpg" title="PROVIDENT BANK SUPPORTS MORRIS HABITAT FOR HUMANITY | Morristown ..." /></div>

Provident Bank Of New Jersey - The Provident Bank

Provident Financial Services, Inc. is the holding company for The Provident Bank . Established in 1839, The Provident Bank emphasizes pe...

Great Western Bank (1919–1997)

Nahara Narnia 0 Great Western Bank 11:49 PM

<img height="240" src="http://www.paddingtonticketauctions.co.uk/catalogues/1007/m2.jpg" width="320" /><br />
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<b>Great Western Bank</b> (previously known as Great Western Savings & Loan) was a large retail bank that operated primarily in the Western United States. Great Western's headquarters were in Chatsworth, California. The bank was acquired by Washington Mutual in 1997 for $6.8 billion.<br />
Great Western Bank was held by <i>Great Western Financial Corporation</i> ("GWFC"), a corporation organized under the laws of the state of Delaware.<br />
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<h2>
<span id="History">History</span></h2>
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<center>
<iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/KrriLucZBPA/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/KrriLucZBPA?feature=player_embedded" width="320"></iframe><br /><br />Theodore Roosevelt: Biography, Foreign Policy, Rough Riders, History (1993) - Theodore "T.R." Roosevelt, Jr. (October 27, 1858 -- January 6, 1919) was an American author, naturalist, explorer, historian, and politician who served as the ...</center>
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Great Western was founded in 1919 in California as a savings and loan association. In 1955, it was merged into a holding company, Great Western Financial Corp.<br />
Within five years, Great Western acquired Santa Ana Savings (1956), West Coast Savings (Sacramento, 1957), Guaranty Savings (San Jose, 1958), Central Savings (San Luis Obispo, 1959), and First Savings (Oakland, 1959). The company later bought Santa Rosa Savings (1968) and Safety Savings (Los Angeles, 1969). In 1970 and 1971, Great Western purchased four additional California savings and loan establishments.<br />
In 1972, Great Western Financial combined them all into Great Western Savings.<br />
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<span id="Celebrity_spokesmen">Celebrity spokesmen</span></h3>
In October 1977, actor John Wayne filmed the first of several television commercials that he recorded over the next year for Great Western. In August 1978, Wayne, in full western garb, filmed the most famous of his commercials for the bank in the Sequoia National Forest. A magnificent, full-sized bronze statue of the actor still stands at 8484 Wilshire Boulevard in front of the bank's former Beverly Hills branch.<br />
Starting in 1982, and until 1996, Great Western retained actor Dennis Weaver as its spokesman. The tagline of the bank's advertising campaign during this time was <i>"We'll Always Be There"</i>. In late 1993, in the aftermath of the savings and loan crisis of the 1980s and 1990s, Great Western acquired 119 Southern California branches of the failed HomeFed Bank from the Resolution Trust Corporation.<br />
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<span id="1980s-1990s">1980s-1990s</span></h3>
In Florida, during the 1980s and 1990s Great Western Bank acquired all or part of the following institutions: Centrust, The First FA, Sunpoint Savings Bank, Carteret Federal Savings, Pioneer Savings Bank, Gibraltar Savings, Goldome, Amerifirst Federal, Chase Federal, City Federal Savings and Intercontinental bank of Jacksonville Beach.<br />
On January 17, 1994, Great Western's administrative campus in Chatsworth, California was particularly affected by the Northridge earthquake. Despite the quake, that year's profits quadrupled, thanks to the need for lower loss reserves and the gain on the sale of its 31 branches on Florida's Gulf Coast.<br />
In 1995, Great Western's chairman James Montgomery passed the office of CEO to president John Maher, who accelerated the drive toward banking services.<br />
In 1996, the company announced a $115 million restructuring program that would eliminate 800 jobs, consolidate mortgage banking branches, and install new technology. Later that year, Great Western sold its student loan business to Crestar Bank.<br />
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<span id="Acquisition_by_Washington_Mutual">Acquisition by Washington Mutual</span></h3>
In early 1997 California thrift H. F. Ahmanson & Co. launched a hostile takeover bid for the company, but Washington Mutual's friendly offer won out later that year. Ironically, in 1998 Washington Mutual acquired Ahmanson for $10 billion.<br />
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The Forum, an arena in Inglewood, California, famous as the former home of the Los Angeles Lakers and Los Angeles Kings, was known as the "Great Western Forum" for several years. This name came from Great Western S&L, which paid for the naming rights on the arena in 1988. The name still remained for several years, although Great Western had ceased to exist. The 15-year naming rights contract expired in 2003, and the Great Western name was finally removed in 2006.<br />
Over ten years after the takeover, Great Western's logo was still visible in several places at their former headquarters in Northridge.<br />
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Great Western Bank (1919–1997)

Great Western Bank (previously known as Great Western Savings & Loan) was a large retail bank that operated primarily in the Western ...

HSA Bank

Nahara Narnia 0 HSA Bank 8:51 PM

<img height="240" src="http://www.madfientist.com/wp-content/uploads/2013/10/hsa-hacks.png" width="320" /><br />
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<b>HSA Bank</b> is one of the USAâ€™s oldest and largest health savings account (HSA) administrators. Based in Milwaukee and Sheboygan, Wisconsin, the company focuses solely on the administration, service and support of the HSA product. It serves more than 700,000+ accountholders with over two billion dollars in HSA assets.<br />
In 1997, HSA Bank entered the consumer-driven healthcare market by providing medical savings accounts (MSA) to small employers and the self-employed. Since the passage of the Medicare Prescription Drug, Improvement and Modernization Act in 2003 and the creation of health savings accounts in 2004, HSA Bank has serviced and administered health savings accounts to companies of all sizes as well as individuals.<br />
HSA Bank is a division of Webster Bank, N.A., Member FDIC, a subsidiary of Webster Financial Corporation (New York Stock Exchange symbol: WBS).<br />
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<span id="History">History</span></h2>
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<iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/hGn1NJHGv5s/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/hGn1NJHGv5s?feature=player_embedded" width="320"></iframe><br /><br />HSA Bank - What is a Health Savings Account? (HSA) - How do Health Savings Accounts (HSA) work? What are Health Savings Accounts (HSA)? Is a Health Savings Account (HSA) right for me? What are the basics ...</center>
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<span id="Origin_of_HSA_Bank">Origin of HSA Bank</span></h3>
HSA Bank began as the State Bank of Howards Grove, which opened in January 1913 in northern Sheboygan County. This rural, community bank would become HSA Bank decades later.<br />
In 1997, State Bank of Howards Grove entered the consumer-driven healthcare market by providing MSAs.<br />
In May 2002, the bank acquired approximately 7,000 accounts and $20 million in balances from Citizens Bank, which was in the process of merging Mellon Bankâ€™s retail business.<br />
State Bank of Howards Grove also began using the trade name MSA Bank in 2002.<br />
After the advent of health savings accounts in 2004, MSA Bank redirected its energy and resources on HSAs and changed its name to HSA Bank.<br />
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<span id="Growth_of_HSA_Bank">Growth of HSA Bank</span></h3>
In March 2005, HSA Bank officially became a division of Webster Bank, N.A., Member FDIC, a subsidiary of Webster Financial Corporation.<br />
Since the creation of health savings accounts, HSA Bank has continued to expand its HSA offering. The company currently provides its customers with multiple enrollment options, including customized online enrollment sites, and utilizes real-time Web services, Internet Banking Single Sign On (SSO) and debit cards, among other features.<br />
In 2006, <i>Kiplinger's Personal Finance</i> named HSA Bank "the best place to go" for an HSA, citing the company's "low fees, a knowledgeable call center and plenty of investment choices.â€<br />
In 2008, HSA Bank became the first HSA administrator to surpass $500 million in HSA deposits.<br />
In 2013, HSA Bank was listed in Kiplinger's "Best of Everything" . In 2014 HSA Bank announced a partnership with Evolution1 to expand their offerings from only HSAs to other Consumer Driven Healthcare Solutions<br />
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<img alt="Td ameritrade hsa investment options aim stock exchange news stock ..." src="http://a3.mzstatic.com/us/r30/Purple4/v4/e2/e3/75/e2e37538-fc4a-1252-41de-c4654bfcced9/screen920x920.jpeg" title="Td ameritrade hsa investment options aim stock exchange news stock ..." /></div>
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HSA Bank

HSA Bank is one of the USAâ€™s oldest and largest health savings account (HSA) administrators. Based in Milwaukee and Sheboygan, Wisconsi...

The Great Riviera Bank Robbery - Riviera Bank

Nahara Narnia 0 Riviera Bank, The Great Riviera Bank Robbery 8:50 PM

<img height="240" src="http://cf2.imgobject.com/t/p/original/l3htz0wp6e1OhnYFeOC81UE5Kcg.jpg" width="320" /><br />
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<i><b>The Great Riviera Bank Robbery</b></i> (1979), also known as <i><b>Dirty Money</b></i>, is a motion picture written and directed by Francis Megahy. Main actors Ian McShane, Warren Clarke, Stephen Greif, and Christopher Malcolm.<br />
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<h2>
<span id="Synopsis">Synopsis</span></h2>
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<center>
<iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/lflmtIywnEc/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/lflmtIywnEc?feature=player_embedded" width="320"></iframe><br /><br />1959 - The Great St. Louis Bank Robbery - STEVE MCQUEEN - Charles Guggenheim | FULL MOVIE - Steve McQueen plays a college dropout hired to be the getaway driver in a bank robbery based upon a heist attempt of Southwest Bank in St. Louis in 1953.</center>
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<i>The Great Riviera Bank Robbery</i> is based on a real-life event in 1976. A group of professional criminals team up with a fascist terrorist group known as "The Chain" to steal 15 million dollars' worth of tourist money from a bank in a French resort town.<br />
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<span id="Miscellanea">Miscellanea</span></h2>
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Two movies were made at the same time that both dealt with the same subjectâ€”a true life event of ex-firebrands using the sewers to rob a bank.<br />
The French version, made by Jose Giovanni, (<i>Les Egouts du Paradis</i> = <i>Sewers of Paradise</i>) kept the hero's real name but is rather listless. The "hero" becomes a nice guy, some kind of Arsene Lupin, who visits the old ladies in the hospital.<br />
The English version, which features a better lead (Ian McShane billed as "Brain") and a more honest approach. The characters are fascists (anti communist) and their paramilitary activities are not passed over in silenceâ€”in the French attempt, all they show is weapons in the thieves' den in the country. When they left the vault, a parting message was written on the wall, which said; "we came with no malice; but went in peace".<br />
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<span id="References">References</span></h2>
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<ol class="references">
<li id="cite_note-1"><b>^</b> "The Great Riviera Bank Robbery > Overview". <i>allmovie.com</i>. Rovi Corporation. Retrieved December 28, 2010.<span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThe+Great+Riviera+Bank+Robbery&rft.atitle=The+Great+Riviera+Bank+Robbery+%3E+Overview&rft.genre=article&rft_id=http%3A%2F%2Fwww.allmovie.com%2Fwork%2Fthe-great-riviera-bank-robbery-20762&rft.jtitle=allmovie.com&rft.pub=Rovi+Corporation&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal">Â </span></li>
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<ul>
<li>The Great Riviera Bank Robbery at the Internet Movie Database</li>
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The Great Riviera Bank Robbery - Riviera Bank

The Great Riviera Bank Robbery (1979), also known as Dirty Money , is a motion picture written and directed by Francis Megahy. Main acto...

Credit One Bank - What Is Credit One Bank

Nahara Narnia 0 Credit One Bank, What Is Credit One Bank 8:49 PM

<img height="240" src="http://www.complaintslist.com/wp-content/uploads/2012/06/credit-one-1024x731.jpg" width="320" /><br />
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<b>Credit One Bank, N.A.</b> , or <b>Credit One</b>, is a U.S. based bank specializing in credit cards. It has corporate offices in Paradise, Nevada. The bank is held by Credit One Financial, a bank holding company registered in Nevada. Credit One Financial is a wholly owned subsidiary of Sherman Financial Group, LLC. As of February 2011, Credit One services approximately 2 million cardholders across the United States.<br />
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<span id="National_Bank_Charter">National Bank Charter</span></h2>
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<iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/dsT9JwcMg2Y/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/dsT9JwcMg2Y?feature=player_embedded" width="320"></iframe><br /><br />SCAM: Credit One Bank Visa Platinum - This Credit One Bank Visa Platinum is an absolute scam. They charge a Daily finance so even though you paid your balance in full they still charged interest.</center>
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Credit One operates under a CEBA national bank charter (OCC Charter Number: 20291). This type of charter affects the bankâ€™s lending and deposit functions. Requirements are set forth in an amendment to the Bank Holding Company Act (BHCA), the Competitive Equality Banking Act of 1987, hence the term CEBA bank. In order to qualify for this type of bank charter, Credit One can engage only in credit card activities. CEBA banks may not accept demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties. They may also not accept any savings or time deposits of less than $100M unless they are used as collateral for secured credit card loans. And, they may not engage in the business of making commercial loans. Any deposits are insured by the Federal Deposit Insurance Corporation (FDIC). Credit Oneâ€™s FDIC Certificate Number is 25620.<br />
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<span id="History">History</span></h2>
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Credit One began operations as a full-service bank under the name First National Bank of Marin (FNBM) in San Rafael, California on July 30, 1984. FNBM maintained a wide range of products until 1995 when it began focusing primarily on two types of products, partially and fully secured credit cards. FNBM received a limited purpose designation from the Office of the Comptroller of the Currency (OCC), a bureau of the United States Department of the Treasury, in June 1996. Limited purpose banks offer only a narrow product line. The bank moved from San Rafael, California to Las Vegas, Nevada in November 1998. FNBM obtained its CEBA status in March 2005 and subsequently changed its name to Credit One Bank, N.A. on February 1, 2006.<br />
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<span id="Registered_Trademarks">Registered Trademarks</span></h2>
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On April 26, 2002 FNBM filed an application for the mark CREDIT ONE BANK with the United States Patent and Trademark Office (USPTO). The mark was granted registration status (Registration Number 3121113) on July 25, 2006 after the bank changed its name to Credit One Bank, N.A. Additional registered trademarks owned by Credit One include CREDIT ONE (Registration Number 330342) granted on October 2, 2007 and CREDIT ONE FINANCIAL (Registration Number 3330575) granted on November 6, 2007.<br />
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<img alt="Texas Debt Suit Defense 101 [Beta]: Capital One Credit Card ..." src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgKE1gGHXiGaw3XbwqTj4xvQTabcajRsHjg56zNz1TQWXN-oQVaS70CToM0MrhVXdyjzliBep0fP6Efnyndgp4BUhiDhver_1Fw50xh8iQ8OavMSQbkeEa9kYWPo2x5Huqsy5Fm-bB8I9gG/s1600/Capital%252BOne%252BBank%252B-%252BHSBC%252BCredit%252BCard%252BPortfolio%252BAquisition%252B-%252B2011%252BApplication%252Bto%252BOCC%252B(excerpt).JPG" title="Texas Debt Suit Defense 101 [Beta]: Capital One Credit Card ..." /></div>
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<li>Credit Oneâ€™s primary website</li>
<li>Credit Oneâ€™s direct mail fulfillment website</li>
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Credit One Bank - What Is Credit One Bank

Credit One Bank, N.A. , or Credit One , is a U.S. based bank specializing in credit cards. It has corporate offices in Paradise, Nevada....

Stanford International Bank - Stanford Bank

Nahara Narnia 0 Stanford Bank, Stanford International Bank 8:48 PM

<img height="240" src="https://publicintelligence.net/wp-content/uploads/2009/07/sibl.png" width="320" /><br />
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<b>Stanford International Bank</b> was a bank based in the Caribbean, which operated from 1986 to 2009. It was an affiliate of the Stanford Financial Group.<br />
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<h2>
<span id="Operations">Operations</span></h2>
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<iframe allowfullscreen="" class="YOUTUBE-iframe-video" data-thumbnail-src="https://i.ytimg.com/vi/9HmuLT4Zgic/0.jpg" frameborder="0" height="266" src="https://www.youtube.com/embed/9HmuLT4Zgic?feature=player_embedded" width="320"></iframe><br /><br />American Greed Allen Stanford 110 years to a Greedy Sociopathic Egotistic - American Greed, also called American Greed: Scams, Scoundrels, And Suckers and American Greed: Scams, Schemes, And Broken Dreams, is a weekly ...</center>
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The bank was started by Allen Stanford in 1986 in Montserrat where it was called Guardian International Bank. Allen Stanford's move into banking utilised funds he had made in real estate in Houston, Texas, in the early 1980s. There was no direct connection between Stanford's insurance business in Texas and the banking business.<br />
Stanford relocated its operations to Antigua. The bank's portfolio was overseen by an investment committee consisting of Allen Stanford; his father; Laura Pendergest-Holt, Stanford Financial Groups' Chief Investment Officer; James M. Davis (Allen Stanford's college roommate), CFO of Stanford International Bank; and a resident of Mexia, Texas (where Stanford's US interests were based) with cattle ranching and car sales experience.<br />
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<span id="Certificates_of_Deposit_.28CDs.29">Certificates of Deposit (CDs)</span></h2>
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Stanford International Bank Limited (SIBL) offered what they called Certificates of Deposit or CDs at rates consistently higher than those available from banks in the United States.<br />
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<span id="Regulatory_investigation_in_the_United_States">Regulatory investigation in the United States</span></h2>
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In February 2009, the US Securities and Exchange Commission (SEC) investigated the US operations of the Stanford Financial Group, including the bank. On 13 February Stanford was quoted saying "the bank remains a strong institution".<br />
On 17 February 2009, the SEC charged Allen Stanford, Pendergest-Holt and Davis with fraud in connection with the bank's US$8 billion certificate of deposit (CD) investment scheme that offered "improbable and unsubstantiated high interest rates". This led the federal government to freeze the assets of the bank and other Stanford entities. In addition, the bank placed a 60-day moratorium on early redemptions of its CDs.<br />
On 27 February 2009, Pendergest-Holt was arrested by federal agents in connection with the alleged fraud. On that day the SEC said that Stanford and his accomplices operated a "massive Ponzi scheme", misappropriated billions of investors' money and falsified the Stanford International Bank's records to hide their fraud. "Stanford International Bank's financial statements, including its investment income, are fictional," the SEC said.<br />
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<span id="Venezuela">Venezuela</span></h2>
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In 2007 the bank formed a subsidiary in Venezuela, which rapidly developed a network of branches throughout the country. There was a run on the bank in February 2009 following the SEC's investigation into Stanford's affairs in the US, and this forced the Venezuelan authorities to seize the bank. It was sold to Banco Nacional de CrÃ©dito in May 2009.<br />
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<span id="Mexico">Mexico</span></h2>
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Mexico's financial regulator announced on 19 February 2009 that it was investigating the local affiliate of Stanford bank for possible violation of banking laws.<br />
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<span id="Receivership_and_liquidation">Receivership and liquidation</span></h2>
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In the United States District Judge David Godbey froze all of the Stanford personal and corporate assets in the US and appointed Ralph Janvey of Dallas as receiver. Janvey retained control until the SEC suit is resolved.<br />
On 19 February 2009, Nigel Hamilton-Smith and Peter Wastell of the British accounting firm Vantis were appointed joint receivers of the bank, and were made liquidators on 15 April 2009.<br />
In February 2010, Vantis' auditors Ernst & Young expressed concern about whether Vantis would receive payment for its work on Stanford. Properties in Antigua emerged as an important part of the company's assets, to be sold to enable payment of creditors and Vantis' own fees.<br />
In June 2010, it was announced that the liquidators and the US receiver had entered into a co-operation agreement, under which the liquidators were to deal with the realisation of the bank's assets in Antigua and the United Kingdom, and the US receiver was to deal with the realisation of the bank's assets in the US and Canada.<br />
In June 2010, the High Court of Antigua resolved that Vantis should be removed from its responsibilities. The firm, which had recently received government approval to sell the property assets, appealed the decision. Vantis itself was placed in administration on 29 June 2010 and promptly broken up, with the various offices and businesses being sold as going concerns. Hamilton-Smith and Wastell transferred to the buyout firm FRP Advisory, and continued their legal fight to be reinstated as liquidators of Stanford. In May 2011 following a claim made to the Eastern Caribbean Court of Appeal, Hamilton-Smith and Wastell were removed as liquidators. On 12 May 2011, Marcus Wide and Hugh Dickson of the international accounting firm Grant Thornton were appointed the new liquidators by the High Court of Antigua.<br />
In September 2011, it was reported that the U.S. Justice Department was investigating whether a Swiss subsidiary of SociÃ©tÃ© GÃ©nÃ©rale was used to channel funds to Stanford's personal accounts and failed to follow due diligence procedures or to ask questions about irregular banking activity.<br />
On Friday, January 20, 2012, an email was sent by the Joint Liquidators to creditors who had been depositors, the "Fraud Victims" urging them to resubmit their claims. They were given some hope of an "interim distribution" but no imminent final sale of some major assets. The information is repeated and the forms are at http://www.sibliquidation.com/claims-administration/ (the URL denoted in the email was erroneous in as much as the "-" was missing between the words "claims" and administration").<br />
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<span id="Online_creditors.E2.80.99_meeting">Online creditorsâ€™ meeting</span></h3>
On 11 October 2011, the liquidators convened an online creditorsâ€™ meeting. The liquidators emphasized that there was a huge shortfall between the available assets and the claims. The claims are around US$7 billion. The assets available are estimated to range from US$73 million to US$1.5 billion. Some of the assets are harder to liquidate, such as property. Therefore, patience will be required to obtain the highest values in the long-term. Another goal of the liquidators is to avoid litigation that could be costly.<br />
The liquidators reported that they had met with a number of representatives of various national governments. These governments each have taken their own independent legal actions under their regulatory and/or court systems. The USA is also contemplating a tax lien against the assets that could deprive the creditors of a sizable sum. US$5 million has already been spent by the liquidators.<br />
The liquidators established a multinational creditors committee composed of six larger individual large claimants and one attorney representing a number of individuals. This committee does not have legal status in the liquidation, but it is administratively convenient for the liquidator to have a body to work with.<br />
The liquidators reported that an interim distribution may be made in the first quarter of 2012.<br />
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Stanford International Bank - Stanford Bank

Stanford International Bank was a bank based in the Caribbean, which operated from 1986 to 2009. It was an affiliate of the Stanford Fina...

Bank Of America - Founder Bank

Nahara Narnia 3 Bank Of America, Founder Bank 8:48 PM

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<b>Bank of America</b> (abbreviated as <b>BofA</b>) is an American multinational banking and financial services corporation headquartered in Charlotte, North Carolina. It is the second largest bank holding company in the United States by assets. As of 2013, Bank of America is the twenty-first largest company in the United States by total revenue. In 2010, <i>Forbes</i> listed Bank of America as the third biggest company in the world.<br />
This segment provides its products and services through operating 5,100 banking centers, 16,300 ATMs, call centers, and online and mobile banking platforms. Its Consumer Real Estate Services segment offers consumer real estate products comprising fixed and adjustable-rate first-lien mortgage loans for home purchase and refinancing needs, home equity lines of credit, and home equity loans.<br />
The bank's 2008 acquisition of Merrill Lynch made Bank of America the world's largest wealth management corporation and a major player in the investment banking market. According to the Scorpio Partnership Global Private Banking Benchmark 2014 it had assets under management (AuM) of 1,866.6 (USD Bn) an increase of 12.5% on 2013.<br />
The company held 12.2% of all bank deposits in the United States in August 2009, and is one of the Big Four banks in the United States, along with Citigroup, JPMorgan Chase and Wells Fargoâ€”its main competitors. Bank of America operatesâ€”but doesn't necessarily maintain retail branchesâ€”in all 50 states of the United States, the District of Columbia and more than 40 other countries. It has a retail banking footprint that serves approximately 50 million consumer and small business relationships at 5,151 banking centers and 16,259 automated teller machines (ATMs).<br />
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, 2014.<br />
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<h2>
<span id="History">History</span></h2>
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<center>
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<h3>
<span id="Bank_of_Italy">Bank of Italy</span></h3>
The history of Bank of America dates back to October 17, 1904 , when Amadeo Giannini founded the Bank of Italy in San Francisco. The Bank of Italy served the needs of many immigrants settling in the United States at that time, a service denied to them by the existing American banks who were typically discriminatory and often denied service to all but the wealthiest. Giannini was raised by his mother and stepfather Lorenzo Scatena, as his father was fatally shot over a pay dispute with an employee. When the 1906 San Francisco earthquake struck, Giannini was able to save all deposits out of the bank building and away from the fires. Because San Francisco's banks were in smoldering ruins and unable to open their vaults, Giannini was able to use the rescued funds to commence lending within a few days of the disaster. From a makeshift desk consisting of a few planks over two barrels, he lent money to those who wished to rebuild.<br />
In 1922, Giannini established Bank of America and Italy in Italy by buying Banca dell'Italia Meridionale, the latter established in 1918.<br />
In 1928, Giannini merged his bank with Bank of America, Los Angeles, headed by Orra E. Monnette and consolidated it with other bank holdings to create what would become the largest banking institution in the country. Bank of Italy was renamed on November 3, 1930, calling it <b>Bank of America National Trust and Savings Association</b>, which was the only such designated bank in the nation at that time. The resulting company was headed by Giannini and serving as co-Chairs.<br />
<h3>
<span id="Expansion_in_California">Expansion in California</span></h3>
Branch banking was introduced by Giannini shortly after 1909 legislation in California that allowed for branch banking in the state. Its first branch outside San Francisco was established in 1909 in San Jose. By 1929, the bank had 453 banking offices in California with aggregate resources of over US$1.4 billion. There is a replica of the 1909 Bank of Italy branch bank in History Park in San Jose, and the 1925 Bank of Italy Building is an important downtown 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 company, Transamerica Corporation. In 1953, regulators succeeded in forcing the separation of Transamerica Corporation and Bank of America under the Clayton Antitrust Act. The passage of the Bank Holding Company Act of 1956 prohibited banks from owning non-banking subsidiaries such as insurance companies. Bank of America and Transamerica were separated, 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 eventually became First Interstate Bancorp, later acquired by Wells Fargo and Company in 1996. It was not until the 1980s with a change in federal banking legislation and regulation that Bank of America was again able to expand its domestic consumer banking activity outside California.<br />
New technologies also allowed credit cards to be linked directly to individual bank accounts. In 1958, the bank introduced the BankAmericard, which changed its name to Visa in 1977. A consortium of other California banks introduced Master Charge (now MasterCard) to compete with BankAmericard.<br />
<h3>
<span id="Expansion_outside_California">Expansion outside California</span></h3>
Following the passage of the Bank Holding Company Act of 1956, BankAmerica Corporation was established for the purpose of owning and operation of Bank of America and its subsidiaries.<br />
Bank of America expanded outside California in 1983 with its acquisition of Seafirst Corporation of Seattle, Washington, and its wholly owned banking subsidiary, Seattle-First National Bank. Seafirst was at risk of seizure by the federal government after becoming insolvent due to a series of bad loans to the oil industry. BankAmerica continued to operate its new subsidiary as Seafirst rather than Bank of America until the 1998 merger with NationsBank.<br />
BankAmerica experienced huge losses in 1986 and 1987 by the placement of a series of bad loans in the Third World, particularly in Latin America. The company fired its CEO, Sam Armacost. Though Armacost blamed the problems on his predecessor, A.W. (Tom) Clausen, Clausen was appointed to replace Armacost. The losses resulted in a huge decline of BankAmerica stock, making it vulnerable to a hostile takeover. First Interstate Bancorp of Los Angeles (which had originated from banks once owned by BankAmerica), launched such a bid in the fall of 1986, although BankAmerica rebuffed it, mostly by selling operations. It sold its FinanceAmerica subsidiary to Chrysler and the brokerage firm Charles Schwab and Co. back to Mr. Schwab. It also sold Bank of America and Italy to Deutsche Bank. By the time of the 1987 stock market crash, BankAmerica's share price had fallen to $8, but by 1992 it had rebounded mightily to become one of the biggest gainers of that half-decade.<br />
BankAmerica's next big acquisition came in 1992. The company acquired its California rival, Security Pacific Corporation and its subsidiary Security Pacific National Bank in California and other banks in Arizona, Idaho, Oregon, and Washington (which Security Pacific had acquired in a series of acquisitions in the late 1980s). This was, at the time, the largest bank acquisition in history. Federal regulators, however, forced the sale of roughly half of Security Pacific's Washington subsidiary, the former Rainier Bank, as the combination of Seafirst and Security Pacific Washington would have given BankAmerica too large a share of the market in that state. The Washington branches were divided and sold to West One Bancorp (now U.S. Bancorp) and KeyBank. Later that year, BankAmerica expanded into Nevada by acquiring Valley Bank of Nevada.<br />
In 1994, BankAmerica acquired the Continental Illinois National Bank and Trust Co. of Chicago, which had become federally owned as part of the same oil industry debacle emanating from Oklahoma City's Penn Square Bank, that had brought down numerous financial institutions including Seafirst. At the time, no bank possessed the resources to bail out Continental, so the federal government operated the bank for nearly a decade. Illinois at that time regulated branch banking extremely heavily, so Bank of America Illinois was a single-unit bank until the 21st century. BankAmerica moved its national lending department to Chicago in an effort to establish a financial beachhead in the region.<br />
These mergers helped BankAmerica Corporation to once again become the largest U.S. bank holding company in terms of deposits, but the company fell to second place in 1997 behind North Carolina's fast-growing NationsBank Corporation, and to third in 1998 First Union Corp.<br />
On the capital markets side, the acquisition of Continental Illinois helped BankAmerica to build a leveraged finance origination and distribution business (Continental Illinois had extensive leveraged lending relationships) which allowed the firmâ€™s existing broker-dealer, BancAmerica Securities (originally named BA Securities), to become a full-service franchise. In addition, in 1997, BankAmerica acquired Robertson Stephens, a San Francisco-based investment bank specializing in high technology for $540Â million. Robertson Stephens was integrated into BancAmerica Securities and the combined subsidiary was renamed BancAmerica Robertson Stephens.<br />
<h3>
<span id="Merger_of_NationsBank_and_BankAmerica">Merger of NationsBank and BankAmerica</span></h3>
In 1997, BankAmerica lent D. E. Shaw & Co., a large hedge fund, $1.4Â billion in order to run various businesses for the bank. However, D.E. Shaw suffered significant loss after the 1998 Russia bond default. BankAmerica was acquired by NationsBank of Charlotte in October 1998 in what was the largest bank acquisition in history at that time.<br />
While NationsBank was the nominal survivor, the merged bank took the better-known name of Bank of America. Hence, the holding company was renamed Bank of America Corporation, while NationsBank, N.A. merged with Bank of America NT&SA to form Bank of America, N.A. as the remaining legal bank entity. The combined bank still operates under Federal Charter 13044, which was granted to Giannini's Bank of Italy on March 1, 1927. However, the merged company is headquartered in Charlotte and retains NationsBank's pre-1998 stock price history. Additionally, all U.S. Securities and Exchange Commission (SEC) filings before 1998 are listed under NationsBank, not BankAmerica. NationsBank president, chairman and CEO Hugh McColl took on the same roles with the merged company.<br />
Bank of America possessed combined assets of $570Â billion, as well as 4,800 branches in 22 states. Despite the mammoth size of the two companies, federal regulators insisted only upon the divestiture of 13 branches in New Mexico, in towns that would be left with only a single bank following the combination. (Branch divestitures are only required if the combined company will have a larger than 25% Federal Deposit Insurance Corporation (FDIC) deposit market share in a particular state or 10% deposit market share overall.) In addition, the combined broker-dealer, created from the integration of BancAmerica Robertson Stephens and NationsBanc Montgomery Securities, was renamed Banc of America Securities in 1998.<br />
<h3>
<span id="2001_to_present">2001 to present</span></h3>
In 2001, McColl stepped down and named Ken Lewis as his successor.<br />
In 2004, Bank of America announced it would purchase Boston-based bank FleetBoston Financial for $47Â billion in cash and stock. By merging with Bank of America, all of its banks and branches were given the Bank of America logo. At the time of merger, FleetBoston was the seventh largest bank in United States with $197Â billion in assets, over 20 million customers and revenue of $12Â billion. Hundreds of FleetBoston workers lost their jobs or were demoted, according to the <i>Boston Globe</i>.<br />
On June 30, 2005, Bank of America announced it would purchase credit card giant MBNA for $35Â billion in cash and stock. The Federal Reserve Board gave final approval to the merger on December 15, 2005, and the merger closed on January 1, 2006. The acquisition of MBNA provided Bank of America a leading domestic and foreign credit card issuer. The combined Bank of America Card Services organization, including the former MBNA, had more than 40 million U.S. accounts and nearly $140Â billion in outstanding balances. Under Bank of America the operation was renamed FIA Card Services.<br />
In May 2006, Bank of America and Banco ItaÃº (Investimentos ItaÃº S.A.) entered into an acquisition agreement through which ItaÃº agreed to acquire BankBoston's operations in Brazil and was granted an exclusive right to purchase Bank of America's operations in Chile and Uruguay. The deal was signed in August 2006 under which ItaÃº agreed to purchase Bank of America's operations in Chile and Uruguay. Prior to the transaction, BankBoston's Brazilian operations included asset management, private banking, a credit card portfolio, and small, middle-market, and large corporate segments. It had 66 branches and 203,000 clients in Brazil. BankBoston in Chile had 44 branches and 58,000 clients and in Uruguay it had 15 branches. In addition, there was a credit card company, OCA, in Uruguay, which had 23 branches. BankBoston N.A. in Uruguay, together with OCA, jointly served 372,000 clients. While the BankBoston name and trademarks were not part of the transaction, as part of the sale agreement, they cannot be used by Bank of America in Brazil, Chile or Uruguay following the transactions. Hence, the BankBoston name has disappeared from Brazil, Chile and Uruguay. The ItaÃº stock received by Bank of America in the transactions has allowed Bank of America's stake in ItaÃº to reach 11.51%. Banco de Boston de Brazil had been founded in 1947.<br />
On November 20, 2006, Bank of America announced the purchase of The United States Trust Company for $3.3Â billion, from the Charles Schwab Corporation. US Trust had about $100Â billion of assets under management and over 150 years of experience. The deal closed July 1, 2007.<br />
On September 14, 2007, Bank of America won approval from the Federal Reserve to acquire LaSalle Bank Corporation from Netherlands's ABN AMRO for $21Â billion. With this purchase, Bank of America possessed $1.7Â trillion in assets. A Dutch court blocked the sale until it was later approved in July. The acquisition was completed on October 1, 2007. Many of LaSalle's branches and offices had already taken over smaller regional banks within the previous decade, such as Lansing and Detroit based Michigan National Bank.<br />
The deal increased Bank of America's presence in Illinois, Michigan, and Indiana by 411 branches, 17,000 commercial bank clients, 1.4Â million retail customers, and 1,500 ATMs. Bank of America became the largest bank in the Chicago market with 197 offices and 14% of the deposit share, surpassing JPMorgan Chase.<br />
LaSalle Bank and LaSalle Bank Midwest branches adopted the Bank of America name on May 5, 2008.<br />
Ken Lewis, who had lost the title of Chairman of the Board, announced that he would retire as CEO effective December 31, 2009, in part due to controversy and legal investigations concerning the purchase of Merrill Lynch. Brian Moynihan became President and CEO effective January 1, 2010, and afterward credit card charge offs and delinquencies declined in January. Bank of America also repaid the $45Â billion it had received from the Troubled Assets Relief Program.<br />
<h4>
<span id="Acquisition_of_Countrywide_Financial">Acquisition of Countrywide Financial</span></h4>
On August 23, 2007, the company announced a $2Â billion repurchase agreement for Countrywide Financial. This purchase of preferred stock was arranged to provide a return on investment of 7.25% <i>per annum</i> and provided the option to purchase common stock at a price of $18 per share.<br />
On January 11, 2008, Bank of America announced that it would buy Countrywide Financial for $4.1Â billion. In March 2008, it was reported that the Federal Bureau of Investigation (FBI) was investigating Countrywide for possible fraud relating to home loans and mortgages. This news did not hinder the acquisition, which was completed in July 2008, giving the bank a substantial market share of the mortgage business, and access to Countrywide's resources for servicing mortgages. The acquisition was seen as preventing a potential bankruptcy for Countrywide. Countrywide, however, denied that it was close to bankruptcy. Countrywide provided mortgage servicing for nine million mortgages valued at $1.4Â trillion as of December 31, 2007.<br />
This purchase made Bank of America Corporation the leading mortgage originator and servicer in the U.S., controlling 20â€“25% of the home loan market. The deal was structured to merge Countrywide with the Red Oak Merger Corporation, which Bank of America created as an independent subsidiary. It has been suggested that the deal was structured this way to prevent a potential bankruptcy stemming from large losses in Countrywide hurting the parent organization by keeping Countrywide bankruptcy remote. Countrywide Financial has changed its name to Bank of America Home Loans.<br />
<span id="Discrimination"></span>In December 2011, the Justice Department announced a $335 million settlement with Bank of America over discriminatory lending practice at Countrywide Financial. Attorney General Eric Holder said a federal probe found discrimination against qualified African-American and Latino borrowers from 2004 to 2008. He said that minority borrowers who qualified for prime loans were steered into higher-interest-rate subprime loans.<br />
<h4>
<span id="Acquisition_of_Merrill_Lynch">Acquisition of Merrill Lynch</span></h4>
On September 14, 2008, Bank of America announced its intention to purchase Merrill Lynch & Co., Inc. in an all-stock deal worth approximately $50Â billion. Merrill Lynch was at the time within days of collapse, and the acquisition effectively saved Merrill from bankruptcy. Around the same time Bank of America was reportedly also in talks to purchase Lehman Brothers, however a lack of government guarantees caused the bank to abandon talks with Lehman. Lehman Brothers filed for bankruptcy the same day Bank of America announced its plans to acquire Merrill Lynch. This acquisition made Bank of America the largest financial services company in the world. Temasek Holdings, the largest shareholder of Merrill Lynch & Co., Inc., briefly became one of the largest shareholders of Bank of America, with a 3% stake. However, taking a loss Reuters estimated at $3Â billion, the Singapore sovereign wealth fund sold its whole stake in Bank of America in the first quarter of 2009.<br />
Shareholders of both companies approved the acquisition on December 5, 2008, and the deal closed January 1, 2009. Bank of America had planned to retain various members of the then Merrill Lynch's CEO, John Thain's management team after the merger. However, after Thain was removed from his position, most of his allies left. The departure of Nelson Chai, who had been named Asia-Pacific president, left just one of Thain's hires in place: Tom Montag, head of sales and trading.<br />
The bank, in its January 16, 2009 earnings release, revealed massive losses at Merrill Lynch in the fourth quarter, which necessitated an infusion of money that had previously been negotiated with the government as part of the government-persuaded deal for the bank to acquire Merrill. Merrill recorded an operating loss of $21.5Â billion in the quarter, mainly in its sales and trading operations, led by Tom Montag. The bank also disclosed it tried to abandon the deal in December after the extent of Merrill's trading losses surfaced, but was compelled to complete the merger by the U.S. government. The bank's stock price sank to $7.18, its lowest level in 17 years, after announcing earnings and the Merrill mishap. The market capitalization of Bank of America, including Merrill Lynch, was then $45Â billion, less than the $50Â billion it offered for Merrill just four months earlier, and down $108Â billion from the merger announcement.<br />
Bank of America CEO Kenneth Lewis testified before Congress that he had some misgivings about the acquisition of Merrill Lynch, and that federal officials pressured him to proceed with the deal or face losing his job and endangering the bank's relationship with federal regulators.<br />
Lewis' statement is backed up by internal emails subpoenaed by Republican lawmakers on the House Oversight Committee. In one of the emails, Richmond Federal Reserve President Jeffrey Lacker threatened that if the acquisition did not go through, and later Bank of America were forced to request federal assistance, the management of Bank of America would be "gone". Other emails, read by Congressman Dennis Kucinich during the course of Lewis' testimony, state that Mr. Lewis had foreseen the outrage from his shareholders that the purchase of Merrill would cause, and asked government regulators to issue a letter stating that the government had ordered him to complete the deal to acquire Merrill. Lewis, for his part, states he didn't recall requesting such a letter.<br />
The acquisition made Bank of America the number one underwriter of global high-yield debt, the third largest underwriter of global equity and the ninth largest adviser on global mergers and acquisitions. As the credit crisis eased, losses at Merrill Lynch subsided, and the subsidiary generated $3.7Â billion of Bank of America's $4.2Â billion in profit by the end of quarter one in 2009, and over 25% in quarter 3 2009.<br />
On September 28, 2012, Bank of America settled the class action lawsuit over the Merrill Lynch acquisition and will pay $2.43 billion. This was one of the first major securities class action lawsuits stemming from the financial crisis of 2007-2008 to settle. Many major financial institutions had a stake in this lawsuit, including Chicago Clearing Corporation, hedge funds, and bank trusts, due to the belief that Bank of America stock was a sure investment.<br />
<h4>
<span id="Federal_Troubled_Asset_Relief_Program">Federal Troubled Asset Relief Program</span></h4>
Bank of America received $20Â billion in the federal bailout from the U.S. government through the Troubled Asset Relief Program (TARP) on January 16, 2009, and a guarantee of $118Â billion in potential losses at the company. This was in addition to the $25Â billion given to them in the Fall 2008 through TARP. The additional payment was part of a deal with the U.S. government to preserve Bank of America's merger with the troubled investment firm Merrill Lynch. Since then, members of the U.S. Congress have expressed considerable concern about how this money has been spent, especially since some of the recipients have been accused of misusing the bailout money. Then CEO Ken Lewis was quoted as claiming "We are still lending, and we are lending far more because of the TARP program." Members of the U.S. House of Representatives, however, were skeptical and quoted many anecdotes about loan applicants (particularly small business owners) being denied loans and credit card holders facing stiffer terms on the debt in their card accounts.<br />
According to a March 15, 2009, article in <i>The New York Times</i>, Bank of America received an additional $5.2Â billion in government bailout money, channeled through American International Group.<br />
As a result of its federal bailout and management problems, <i>The Wall Street Journal</i> reported that the Bank of America was operating under a secret "memorandum of understanding" (MOU) from the U.S. government that requires it to "overhaul its board and address perceived problems with risk and liquidity management". With the federal action, the institution has taken several steps, including arranging for six of its directors to resign and forming a Regulatory Impact Office. Bank of America faces several deadlines in July and August and if not met, could face harsher penalties by federal regulators. Bank of America did not respond to <i>The Wall Street Journal</i> story.<br />
On December 2, 2009, Bank of America announced it would repay the entire $45Â billion it received in TARP and exit the program, using $26.2Â billion of excess liquidity along with $18.6Â billion to be gained in "common equivalent securities" (Tier 1 capital). The bank announced it had completed the repayment on December 9. Bank of America's Ken Lewis said during the announcement, "We appreciate the critical role that the U.S. government played last fall in helping to stabilize financial markets, and we are pleased to be able to fully repay the investment, with interest.... As America's largest bank, we have a responsibility to make good on the taxpayers' investment, and our record shows that we have been able to fulfill that commitment while continuing to lend."<br />
<h4>
<span id="Bonus_settlement">Bonus settlement</span></h4>
On August 3, 2009, Bank of America agreed to pay a $33Â million fine, without admission or denial of charges, to the U.S. Securities and Exchange Commission (SEC) over the non-disclosure of an agreement to pay up to $5.8Â billion of bonuses at Merrill. The bank approved the bonuses before the merger but did not disclose them to its shareholders when the shareholders were considering approving the Merrill acquisition, in December 2008. The issue was originally investigated by New York State Attorney General Andrew Cuomo, who commented after the suit and announced settlement that "the timing of the bonuses, as well as the disclosures relating to them, constituted a 'surprising fit of corporate irresponsibility'" and "our investigation of these and other matters pursuant to New York's Martin Act will continue." Congressman Kucinich commented at the same time that "This may not be the last fine that Bank of America pays for how it handled its merger of Merrill Lynch." A federal judge, Jed Rakoff, in an unusual action, refused to approve the settlement on August 5. A first hearing before the judge on August 10 was at times heated, and he was "sharply critic[al]" of the bonuses. David Rosenfeld represented the SEC, and Lewis J. Liman, son of Arthur L. Liman, represented the bank. The actual amount of bonuses paid was $3.6Â billion, of which $850Â million was "guaranteed" and the rest was shared amongst 39,000 workers who received average payments of $91,000; 696 people received more than $1Â million in bonuses; at least one person received a more than $33Â million bonus.<br />
On September 14, the judge rejected the settlement and told the parties to prepare for trial to begin no later than February 1, 2010. The judge focused much of his criticism on the fact that the fine in the case would be paid by the bank's shareholders, who were the ones that were supposed to have been injured by the lack of disclosure. He wrote, "It is quite something else for the very management that is accused of having lied to its shareholders to determine how much of those victimsâ€™ money should be used to make the case against the management go away," ... "The proposed settlement," the judge continued, "suggests a rather cynical relationship between the parties: the S.E.C. gets to claim that it is exposing wrongdoing on the part of the Bank of America in a high-profile merger; the bank's management gets to claim that they have been coerced into an onerous settlement by overzealous regulators. And all this is done at the expense, not only of the shareholders, but also of the truth."<br />
While ultimately deferring to the SEC, in February, 2010, Judge Rakoff approved a revised settlement with a $150Â million fine "reluctantly", calling the accord "half-baked justice at best" and "inadequate and misguided". Addressing one of the concerns he raised in September, the fine will be "distributed only to Bank of America shareholders harmed by the non-disclosures, or 'legacy shareholders', an improvement on the prior $33Â million while still "paltry", according to the judge. Case: SEC v. Bank of America Corp., 09-cv-06829, United States District Court for the Southern District of New York.<br />
Investigations also were held on this issue in the United States House Committee on Oversight and Government Reform, under chairman Edolphus Towns (D-NY) and in its investigative Domestic Policy Subcommittee under Kucinich.<br />
<h4>
<span id="Fraud">Fraud</span></h4>
In 2010, the bank was accused by the U.S. government of defrauding schools, hospitals, and dozens of state and local government organizations via misconduct and illegal activities involving the investment of proceeds from municipal bond sales. As a result, the bank agreed to pay $137.7Â million, including $25Â million to the Internal Revenue service and $4.5Â million to state attorney general, to the affected organizations to settle the allegations.<br />
Former bank official Douglas Campbell pleaded guilty to antitrust, conspiracy and wire fraud charges. As of January 2011, other bankers and brokers are under indictment or investigation.<br />
On October 24, 2012, the top federal prosecutor in Manhattan filed a lawsuit alleging that Bank of America fraudulently cost American taxpayers more than $1 billion when it sold toxic mortgages to Fannie Mae and Freddie Mac. The scheme was called 'Hustle', or High Speed Swim Lane.<br />
<h4>
<span id="Downsizing_.282011_to_2014.29">Downsizing (2011 to 2014)</span></h4>
During 2011, Bank of America began conducting personnel reductions of an estimated 36,000 people, contributing to intended savings of $5 billion per year by 2014.<br />
In December 2011, <i>Forbes</i> ranked Bank of America's financial health 91st out of the nation's largest 100 banks and thrift institutions.<br />
Bank of America cut around 16,000 jobs in a quicker fashion by the end of 2012 as revenue continued to decline because of new regulations and a slow economy. This put a plan one year ahead of time to eliminate 30,000 jobs under a cost-cutting program, called Project New BAC.<br />
In April and May 2014, Bank of America sold two dozen branches in Michigan to Huntington Bancshares. The locations were converted to Huntington National Bank branches in September.<br />
As part of its new strategy Bank of America is focused on growing its mobile banking platform. As of 2014, Bank of America has 31 million active online users and 16 million mobile users. Its retail banking branches have decreased to 4,900 as a result of increased mobile banking use and a decline in customer branch visits.<br />
<h4>
<span id="Sale_of_stake_in_China_Construction_Bank">Sale of stake in China Construction Bank</span></h4>
In September 2013, Bank of America sold its remaining stake in the China Construction Bank for as much as $1.5 billion, marking the firm's full exit from the country.<br />
<h4>
<span id=".2417_billion_settlement_with_Justice_Department">$17 billion settlement with Justice Department</span></h4>
In August 2014, Bank of America agreed to a near-$17 billion deal to settle claims against it relating to the sale of toxic mortgage-linked securities including subprime home loans, in what was believed to be the largest settlement in U.S. corporate history. The bank agreed with the U.S. Justice Department to pay $9.65 billion in fines, and $7 billion in relief to the victims of the faulty loans which included homeowners, borrowers, pension funds and municipalities. Real estate economist Jed Kolko said the settlement is a "drop in the bucket" compared to the $700 billion in damages done to 11 million homeowners. Since the settlement covered such a substantial portion of the market, he said for most consumers "you're out of luck."<br />
<h2>
<span id="Operations">Operations</span></h2>
<br />
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Bank of America generates 90% of its revenues in its domestic market and continues to buy businesses in the U.S. The core of Bank of America's strategy is to be the number one bank in its domestic market. It has achieved this through key acquisitions.<br />
<h3>
<span id="Consumer">Consumer</span></h3>
Consumer Banking is the largest division in the company, and provides financial services to consumers and small businesses. The acquisition of FleetBoston and MBNA significantly expanded its size and range of services, resulting in about 51% of the company's total revenue in 2005. It competes primarily with the retail banking arms of America's three other megabanks: Citigroup, JPMorgan Chase, and Wells Fargo. The Consumer Banking organization includes over 5,800 retail branches and over 18,000 ATMs across the United States.<br />
Bank of America is a member of the Global ATM Alliance, a joint venture of several major international banks that until the end of 2013 allowed customers of the banks to use their ATM card or check card at another bank within the Global ATM Alliance without access fees when traveling internationally. A change of policy means that customers are now charged 3% of funds withdrawn from ATMs overseas. Other participating banks are Barclays (United Kingdom), BNP Paribas (France), Ukrsibbank (Ukraine), China Construction Bank (China), Deutsche Bank (Germany), Santander Serfin (Mexico), Scotiabank (Canada) and Westpac (Australia and New Zealand). This feature is restricted to withdrawals using a debit card and is subject to foreign currency conversion fees, credit card withdrawals are still subject to cash advance fees and foreign currency conversion fees. Additionally, some foreign ATMs use Smart Card technology and may not accept non-Smart Cards.<br />
Bank of America offers banking and brokerage products as a result of the acquisition of Merrill Lynch. Savings programs such as "Add it Up" and "Keep the Change" have been well received and are a reflection of the product development banks have taken during the 2008 recession.<br />
Bank of America, N.A is a nationally chartered bank, regulated by the Office of the Comptroller of the Currency, Department of the Treasury.<br />
<h3>
<span id="Corporate">Corporate</span></h3>
Before Bank of America's acquisition of Merrill Lynch, the Global Corporate and Investment Banking (GCIB) business operated as Banc of America Securities LLC. The bank's investment banking activities operate under the Merrill Lynch subsidiary and provided mergers and acquisitions advisory, underwriting, capital markets, as well as sales & trading in fixed income and equities markets. Its strongest groups include Leveraged Finance, Syndicated Loans, and mortgage-backed securities. It also has one of the largest research teams on Wall Street. Bank of America Merrill Lynch is headquartered in New York City.<br />
<h3>
<span id="Investment_management">Investment management</span></h3>
Global Wealth and Investment Management (GWIM) manages assets of institutions and individuals. It is among the 10 largest U.S. wealth managers (ranked by private banking assets under management in accounts of $1Â million or more as of June 30, 2005). In July 2006, Chairman Ken Lewis announced that GWIM's total assets under management exceeded $500Â billion. GWIM has five primary lines of business: Premier Banking & Investments (including Bank of America Investment Services, Inc.), The Private Bank, Family Wealth Advisors, and Bank of America Specialist.<br />
Bank of America has spent $675Â million building its U.S. investment banking business and is looking to become one of the top five investment banks worldwide. "Bank of America already has excellent relationships with the corporate and financial institutions world. Its clients include 98% of the Fortune 500 companies in the U.S. and 79% of the Global Fortune 500. These relationships, as well as a balance sheet that most banks would kill for, are the foundations for a lofty ambition."<br />
Bank of America has a new headquarters for its operations at the Bank of America Tower, New York City. The skyscraper is located on 42nd Street and Avenue of the Americas, at Bryant Park, and features state-of-the-art, environmentally friendly technology throughout its 2.1Â million square feet (195,096 mÂ²) of office space. The building is the headquarters for the company's investment banking division, and also hosts most of Bank of America's New York-based staff.<br />
An April 21, 2012 article by <i>The New York Times</i> named the Bank of America as a corporate member of the American Legislative Exchange Council (ALEC).<br />
<h3>
<span id="International_operations">International operations</span></h3>
In 2005, Bank of America acquired a 9% stake in China Construction Bank, one of the Big Four banks in China, for $3Â billion. It represented the company's largest foray into China's growing banking sector. Bank of America has offices in Hong Kong, Shanghai, and Guangzhou and was looking to greatly expand its Chinese business as a result of this deal. In 2008, Bank of America was awarded Project Finance Deal of the Year at the 2008 ALB Hong Kong Law Awards. In November 2011, Bank of America announced plans to divest most of its stake in the China Construction Bank.<br />
Bank of America operated under the name BankBoston in many other Latin American countries, including Brazil. In 2006, Bank of America sold BankBoston's operations to Brazilian bank Banco ItaÃº, in exchange for ItaÃº shares. The BankBoston name and trademarks were not part of the transaction and, as part of the sale agreement, cannot be used by Bank of America (ending the BankBoston brand).<br />
Bank of America's Global Corporate and Investment Banking has its U.S. headquarters in New York, European headquarters in London, and Asian headquarters in Hong Kong.<br />
Bank of America currently trades on a forecast price-to-earnings ratio of 11-12, but over the next few years we expect that multiple to shrink as an increase in blue collar workers start borrowing money to build houses of their own.<br />
<h2>
<span id="Corporate_affairs">Corporate affairs</span></h2>
<br />
<div class="mobile-photo">
<img alt="Bank of America - Wikipedia, the free encyclopedia" src="http://upload.wikimedia.org/wikipedia/commons/5/5d/Porter_Ranch_Bank_of_America.jpg" title="Bank of America - Wikipedia, the free encyclopedia" /></div>
<h3>
<span id="Board_of_directors">Board of directors</span></h3>
<ul>
<li>Susan Bies, former Governor of the Federal Reserve Board</li>
<li>William Boardman, former Chairman of Visa International Inc.</li>
<li>Frank P. Bramble Sr, former Executive Officer, MBNA Corporation</li>
<li>Virgis W. Colbert, (69), senior advisor, MillerCoors Company</li>
<li>Charles K. Gifford, former Chairman, Bank of America Corporation</li>
<li>Charles O. Holliday, Chairman, Bank of America Corporation, former Chairman and CEO of DuPont</li>
<li>D. Paul Jones, lawyer and former CEO of Compass Bancshares, a Birmingham, Alabama bank now part of Banco Bilbao Vizcaya Argentaria SA</li>
<li>Brian T. Moynihan, President and Chief Executive Officer, Bank of America Corporation</li>
<li>Monica C. Lozano, Publisher and Chief Executive Officer of La OpiniÃ³n</li>
<li>Walter E. Massey, former Chairman, Bank of America Corporation, President Emeritus, Morehouse College</li>
<li>Mukesh Ambani,Director and Chairman, Reliance Industries</li>
<li>Thomas J. May, Chairman, President and Chief Executive Officer, NSTAR</li>
<li>Donald E. Powell, former Chairman of the Federal Deposit Insurance Corp.</li>
<li>Charles O. Rossotti, (68) senior advisor, The Carlyle Group</li>
<li>Thomas M. Ryan, President and Chief Executive Officer, CVS Caremark Corporation</li>
<li>Robert W. Scully, former member, Office of the Chairman of Morgan Stanley</li>
</ul>
<h3>
<span id="Financial_data">Financial data</span></h3>
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<li class="gallerybox" style="width: 155px;"></li>
</ul>
<br />
<h3>
<span id="Major_shareholders">Major shareholders</span></h3>
<ul>
<li>Capital Research Global Investors and Capital World Investors are both owned by parent company Capital Group Companies</li>
</ul>
Data from Yahoo! Finance as of March 10, 2014<br />
<h4>
<span id="Other_individuals">Other individuals</span></h4>
Jonathan Finger, whose Houston-based family owns more than 1 million shares of stock and has pressed for boardroom changes.<br />
IPIC Group Ltd., a private Delaware-based investment firm, is seeking to become Bank of America's largest institutional shareholder.<br />
Warren Buffett, in August 2011, agreed to invest $5 billion through Berkshire Hathaway for 50,000 preferred shares along with warrants to purchase up to 700,000,000 shares at US$7.14 though August 2021. The bank has the option to buy back the shares for a 5 percent premium.<br />
<h2>
<span id="Charitable_efforts">Charitable efforts</span></h2>
<br />
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<img alt="Designing a NYC Icon: One Bryant Park / Bank of America Tower ..." src="http://buildipedia.com/images/masterformat/Channels/In_Studio/2012.01.04_bank_of_america_tower/images/photos/bank_of_america_tower_obp_ext_2park10.jpg" title="Designing a NYC Icon: One Bryant Park / Bank of America Tower ..." /></div>
In 2007, the corporation supplied its employees with a $3,000 rebate for the purchase of hybrid vehicles. The company also provided a $1,000 rebate or a lower interest rate for customers whose homes qualified as energy efficient. In 2007, Bank of America partnered with Brighter Planet to offer an eco-friendly credit card, and later a debit card, which help build renewable energy projects with each purchase. The corporation recently completed the new 1 Bank of America Center in Uptown Charlotte. The tower, and accompanying hotel, will be a LEED-certified building.<br />
Bank of America has also donated money to help health centers in Massachusetts and made donations to help homeless shelters in Miami.<br />
In 2004, the bank pledged $750Â billion over a ten-year period for community development lending and investment. The company had delivered more than $230Â billion against a ten-year commitment of $350Â billion made in 1998 to provide affordable mortgage, build affordable housing, support small business and create jobs in disadvantaged neighborhoods.<br />
<h2>
<span id="Lawsuits">Lawsuits</span></h2>
<br />
<div class="mobile-photo">
<img alt="Designing a NYC Icon: One Bryant Park / Bank of America Tower ..." src="http://buildipedia.com/images/masterformat/Channels/In_Studio/2012.01.04_bank_of_america_tower/images/photos/bank_of_america_tower_obp_int_garden_11.jpg" title="Designing a NYC Icon: One Bryant Park / Bank of America Tower ..." /></div>
In August 2011, Bank of America was sued for $10 billion by American International Group. Another lawsuit filed in September 2011 pertained to $57.5 billion in mortgage-backed securities Bank of America sold to Fannie Mae and Freddie Mac. That December, Bank of America agreed to pay $335 million to settle a federal government claim that Countrywide Financial had discriminated against Hispanic and African-American homebuyers from 2004 to 2008, prior to being acquired by BofA. In September 2012, BofA settled out of court for $2.4 billion in a class action lawsuit filed by BofA shareholders who felt they were misled about the purchase of Merrill Lynch.<br />
On October 24, 2012, American federal prosecutors filed a $1 billion civil lawsuit against Bank of America for mortgage fraud under the False Claims Act, which provides for possible penalties of triple the damages suffered. The government asserted that Countrywide, which was acquired by Bank of America, rubber-stamped mortgage loans to risky borrowers and forced taxpayers to guarantee billions of bad loans through Fannie Mae and Freddie Mac. The suit was filed by Preet Bharara, the United States attorney in Manhattan, the inspector general of FHFA and the special inspector for the Troubled Asset Relief Program. In March 2014, Bank of America settled the suit by agreeing to pay $6.3 billion to Fannie Mae and Freddie Mac and to buy back around $3.2 billion worth of mortgage bonds.<br />
A $7.5 million settlement was reached in April 2014 with former chief financial officer for Bank of America, Joe L. Price, over allegations that the bankâ€™s management withheld material information related to its 2008 merger with Merrill Lynch. In August 2014, the United States Department of Justice and the bank agreed to a $16.65 billion agreement over the sale of risky, mortgage-backed securities before the Great Recession; the loans behind the securities were transferred to the company when it acquired banks such as Merrill Lynch and Countrywide in 2008. As a whole, the three firms provided $965 billion of mortgage-backed securities from 2004â€“2008. The settlement was structured to give $7 billion in consumer relief and $9.65 billion in penalty payments to the federal government and state governments; California, for instance, received $300 million to recompense public pension funds. The settlement was the largest in United States history between a single company and the federal government.<br />
<h2>
<span id="Controversies">Controversies</span></h2>
<br />
<div class="mobile-photo">
<img alt="Designing a NYC Icon: One Bryant Park / Bank of America Tower ..." src="http://buildipedia.com/images/masterformat/Channels/In_Studio/2012.01.04_bank_of_america_tower/images/photos/bank_of_america_tower_obp_ext_42nd_east02.jpg" title="Designing a NYC Icon: One Bryant Park / Bank of America Tower ..." /></div>
<h3>
<span id="Parmalat_controversy">Parmalat controversy</span></h3>
Parmalat SpA is a multinational Italian dairy and food corporation. Following Parmalat's 2003 bankruptcy, the company sued Bank of America for $10Â billion, alleging the bank profited from its knowledge of Parmalat's financial difficulties. The parties announced a settlement in July 2009, resulting in Bank of America paying Parmalat $98.5Â million in October 2009. In a related case, on April 18, 2011, an Italian court acquitted Bank of America and three other large banks, along with their employees, of charges they assisted Parmalat in concealing its fraud, and of lacking sufficient internal controls to prevent such frauds. Prosecutors did not immediately say whether they would appeal the rulings. In Parma, the banks were still charged with covering up the fraud.<br />
<h3>
<span id="Consumer_credit_controversies">Consumer credit controversies</span></h3>
In January 2008, Bank of America began notifying some customers without payment problems that their interest rates were more than doubled, up to 28%. The bank was criticized for raising rates on customers in good standing, and for declining to explain why it had done so. In September 2009, a Bank of America credit card customer, Ann Minch, posted a video on YouTube criticizing the bank for raising her interest rate. After the video went viral, she was contacted by a Bank of America representative who lowered her rate. The story attracted national attention from television and internet commentators. More recently, the bank has been criticized for allegedly seizing three properties that were not under their ownership, apparently due to incorrect addresses on their legal documents.<br />
<h3>
<span id="WikiLeaks">WikiLeaks</span></h3>
In October 2009, WikiLeaks representative Julian Assange reported that his organization possessed a 5 gigabyte hard drive formerly used by a Bank of America executive and that Wikileaks intended to publish its contents.<br />
In November 2010, <i>Forbes</i> magazine published an interview with Assange in which he stated his intent to publish information which would turn a major U.S. bank "inside out". In response to this announcement, Bank of America stock dropped 3.2%.<br />
In December 2010, Bank of America announced that it would no longer service requests to transfer funds to WikiLeaks, stating that "Bank of America joins in the actions previously announced by MasterCard, PayPal, Visa Europe and others and will not process transactions of any type that we have reason to believe are intended for WikiLeaks... This decision is based upon our reasonable belief that WikiLeaks may be engaged in activities that are, among other things, inconsistent with our internal policies for processing payments."<br />
In late December it was announced that Bank of America had bought up more than 300 Internet domain names in an attempt to preempt bad publicity that might be forthcoming in the anticipated WikiLeaks release. The domain names included as <i>BrianMoynihanBlows.com</i>, <i>BrianMoynihanSucks.com</i> and similar names for other top executives of the bank. Nick Baumann of <i>Mother Jones</i>ridiculed this effort, stating: "If I owned stock in Bank of America, this would not give me confidence that the bank is prepared for whatever Julian Assange is planning to throw at it."<br />
Sometime before August 2011, it is claimed by WikiLeaks that 5 GB of Bank of America leaks was part of the deletion of over 3500 communications by Daniel Domscheit-Berg, a now ex-WikiLeaks volunteer.<br />
<h3>
<span id="Anonymous">Anonymous</span></h3>
On March 14, 2011, one or more members of the decentralized collective Anonymous began releasing emails it said were obtained from Bank of America. According to the group, the emails document "corruption and fraud", and relate to the issue of improper foreclosures. The source, identified publicly as Brian Penny, was a former LPI Specialist from Balboa Insurance, a firm which used to be owned by the bank, but was sold to Australian Reinsurance Company QBE.<br />
<h3>
<span id="Mortgage_business">Mortgage business</span></h3>
The state of Arizona has investigated Bank of America for misleading homeowners who sought to modify their mortgage loans. According to the attorney general of Arizona, the bank "repeatedly has deceived" such mortgagors. In response to the investigation, the bank has given some modifications on the condition that the homeowners refrain from criticizing the bank.<br />
<h3>
<span id="Accounts_of_Iranians_frozen">Accounts of Iranians frozen</span></h3>
In May 2014 many Iranian students in the U.S. and some American-Iranian citizens realized their accounts have been frozen by Bank of America. Although Bank of America denied to reveal any information or reason regarding this, some Iranians believe that it is related to sanctions against Iran. Betty Riess, a spokeswoman for Bank of America, told MintPress News via email, "We do not close accounts on the basis of nationality, nor do we close accounts without notice to customers." However, account holders believe there could be a relationship between this action and their national origin. Although most account holders say they did not receive any notification prior their accounts being frozen, Bank of America insists that they do not freeze any account without prior notification. When it was reported that Bank of America was closing the accounts of Iranians living in the U.S. and Iranian-Americans, there was speculation that the bank did so on the basis of discriminatory ideology, since Bank of America did not give these individuals any reason why their accounts were being closed. The bank responded to these accusations, arguing that it was only following the rules put forth by the U.S. federal government regarding economic relations between the U.S. and Iran.<br />
<h2>
<span id="Notable_buildings">Notable buildings</span></h2>
<br />
<div class="mobile-photo">
<img alt="Bank of America settles two crisis-era lawsuits | The Charlotte ..." src="http://www.charlotteobserver.com/news/business/6kg6p9/picture17282864/ALTERNATES/FREE_960/bofa.JPG" title="Bank of America settles two crisis-era lawsuits | The Charlotte ..." /></div>
Notable buildings which Bank of America currently occupies include:<br />
<ul>
<li>Bank of America Tower in Phoenix, Arizona</li>
<li>Bank of America Center in Los Angeles</li>
<li>555 California Street, formerly the Bank of America Center and world headquarters, in San Francisco</li>
<li>Bank of America Plaza in Fort Lauderdale, Florida</li>
<li>Bank of America Tower in Jacksonville, Florida</li>
<li>Bank of America Tower in Miami, Florida</li>
<li>Bank of America Center in Orlando, Florida</li>
<li>Bank of America Tower in St. Petersburg, Florida</li>
<li>Bank of America Plaza in Tampa, Florida</li>
<li>Bank of America Plaza in Atlanta, Georgia (the tallest U.S. building outside of NYC and Chicago)</li>
<li>Bank of America Building, formerly the LaSalle Bank Building in Chicago, Illinois</li>
<li>One City Center, often called the Bank of America building due to signage rights, in Portland, Maine</li>
<li>Bank of America Building in Baltimore, Maryland</li>
<li>Bank of America Plaza in St Louis, Missouri</li>
<li>Bank of America Tower in Albuquerque, New Mexico</li>
<li>Bank of America Tower in New York City</li>
<li>Bank of America Corporate Center in Charlotte, North Carolina (The corporate headquarters)</li>
<li>Bank of America Plaza in Charlotte, North Carolina</li>
<li>Bank of America Building in Providence, Rhode Island</li>
<li>Bank of America Plaza in Dallas, Texas</li>
<li>Bank of America Center in Houston, Texas</li>
<li>Bank of America Tower in Midland, Texas</li>
<li>Bank of America Plaza in San Antonio, Texas</li>
<li>Bank of America Fifth Avenue Plaza in Seattle, Washington</li>
<li>Columbia Center in Seattle, Washington</li>
<li>Bank of America Tower in Hong Kong</li>
<li>City Place I, also known as United Healthcare Center, in Hartford, Connecticut (The tallest building in Connecticut)</li>
<li>Bank of America Stadium in Charlotte, North Carolina</li>
<li>9454 Wilshire Boulevard in Beverly Hills, California</li>
</ul>
<h2>
<span id="See_also">See also</span></h2>
<br /><br />
<ul>
<li>BAML Capital Partners</li>
<li>Bank of America (Asia)</li>
<li>Bank of America Canada</li>
<li>Calibuso, et al. v. Bank of America Corp., et al.</li>
<li>Death of Kevin Flanagan</li>
<li>List of bank mergers in United States</li>
</ul>
<h2>
<br /></h2>
<h2>
<span id="Further_reading">Further reading</span></h2>
<br /><br />
<ul>
<li>Bonadio, Felice A. (1994). <i>A.P. Giannini: Banker of America</i>. Berkeley, CA: University of California Press. ISBNÂ 0-520-08249-4.<span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABank+of+America&rft.au=Bonadio%2C+Felice+A.&rft.aufirst=Felice+A.&rft.aulast=Bonadio&rft.btitle=A.P.+Giannini%3A+Banker+of+America&rft.date=1994&rft.genre=book&rft.isbn=0-520-08249-4&rft.place=Berkeley%2C+CA&rft.pub=University+of+California+Press&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook">Â </span></li>
<li>Hector, Gary (1988). <i>Breaking the Bank: The Decline of BankAmerica</i>. Boston: Little, Brown. ISBNÂ 0-316-35392-2.<span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABank+of+America&rft.aufirst=Gary&rft.au=Hector%2C+Gary&rft.aulast=Hector&rft.btitle=Breaking+the+Bank%3A+The+Decline+of+BankAmerica&rft.date=1988&rft.genre=book&rft.isbn=0-316-35392-2&rft.place=Boston&rft.pub=Little%2C+Brown&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook">Â </span></li>
<li>James, Marquie; James, Bessie (1954). <i>Biography of a Bank: The Story of Bank of America N.T.&S.A</i>. New York: Harper and Brothers.<span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABank+of+America&rft.aufirst=Marquie&rft.au=James%2C+Bessie&rft.au=James%2C+Marquie&rft.aulast=James&rft.btitle=Biography+of+a+Bank%3A+The+Story+of+Bank+of+America+N.T.%26S.A.&rft.date=1954&rft.genre=book&rft.place=New+York&rft.pub=Harper+and+Brothers&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook">Â </span></li>
<li>Johnston, Moira (1990). <i>Roller Coaster: The Bank of America and the Future of American Banking</i>. New York: Ticknor & Fields.<span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABank+of+America&rft.aufirst=Moira&rft.au=Johnston%2C+Moira&rft.aulast=Johnston&rft.btitle=Roller+Coaster%3A+The+Bank+of+America+and+the+Future+of+American+Banking&rft.date=1990&rft.genre=book&rft.place=New+York&rft.pub=Ticknor+%26+Fields&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook">Â </span></li>
<li>Josephson, Matthew (1972). <i>The Money Lords: The Great Finance Capitalists, 1925â€“1950</i>. New York: Weybright and Talley.<span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABank+of+America&rft.aufirst=Matthew&rft.au=Josephson%2C+Matthew&rft.aulast=Josephson&rft.btitle=The+Money+Lords%3A+The+Great+Finance+Capitalists%2C+1925%E2%80%931950&rft.date=1972&rft.genre=book&rft.place=New+York&rft.pub=Weybright+and+Talley&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook">Â </span></li>
<li>Lampert, Hope (1986). <i>Behind Closed Doors: Wheeling and Dealing in the Banking World</i>. New York: Atheneum.<span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABank+of+America&rft.aufirst=Hope&rft.au=Lampert%2C+Hope&rft.aulast=Lampert&rft.btitle=Behind+Closed+Doors%3A+Wheeling+and+Dealing+in+the+Banking+World&rft.date=1986&rft.genre=book&rft.place=New+York&rft.pub=Atheneum&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook">Â </span></li>
<li>Light, Larry (October 1, 2007). "Money for the Masses". <i>Forbes</i>.<span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABank+of+America&rft.atitle=Money+for+the+Masses&rft.aufirst=Larry&rft.aulast=Light&rft.au=Light%2C+Larry&rft.date=October+1%2C+2007&rft.genre=article&rft.jtitle=Forbes&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal">Â </span></li>
<li>Monnette, Orra Eugene. <i>Personal Papers Collection</i>. Los Angeles, CA: Los Angeles Public Library.<span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABank+of+America&rft.aufirst=Orra+Eugene&rft.aulast=Monnette&rft.au=Monnette%2C+Orra+Eugene&rft.btitle=Personal+Papers+Collection&rft.genre=book&rft.place=Los+Angeles%2C+CA&rft.pub=Los+Angeles+Public+Library&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook">Â </span></li>
<li>Nash, Gerald G. (1992). <i>A.P. Giannini and the Bank of America</i>. Norman, OK: University of Oklahoma Press.<span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABank+of+America&rft.aufirst=Gerald+G.&rft.aulast=Nash&rft.au=Nash%2C+Gerald+G.&rft.btitle=A.P.+Giannini+and+the+Bank+of+America&rft.date=1992&rft.genre=book&rft.place=Norman%2C+OK&rft.pub=University+of+Oklahoma+Press&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook">Â </span></li>
<li>Yockey, Ross (1999). <i>McColl: The Man with America's Money</i>. Atlanta: Longstreet Press.<span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABank+of+America&rft.aufirst=Ross&rft.aulast=Yockey&rft.au=Yockey%2C+Ross&rft.btitle=McColl%3A+The+Man+with+America%27s+Money&rft.date=1999&rft.genre=book&rft.place=Atlanta&rft.pub=Longstreet+Press&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook">Â </span></li>
<li>Ahmed, Azam; Demirjian, Karoun (February 15, 2007). "Credit offered to illegal residents". <i>Chicago Tribune</i>.<span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABank+of+America&rft.atitle=Credit+offered+to+illegal+residents&rft.au=Ahmed%2C+Azam&rft.au=Demirjian%2C+Karoun&rft.aufirst=Azam&rft.aulast=Ahmed&rft.date=February+15%2C+2007&rft.genre=article&rft.jtitle=Chicago+Tribune&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal">Â </span></li>
<li>Taibbi, Matt (March 14, 2012). "Bank of America: Too Crooked to Fail". <i>Rolling Stone</i>.<span title="ctx_ver=Z39.88-2004&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABank+of+America&rft.atitle=Bank+of+America%3A+Too+Crooked+to+Fail&rft.aufirst=Matt&rft.aulast=Taibbi&rft.au=Taibbi%2C+Matt&rft.date=March+14%2C+2012&rft.genre=article&rft_id=http%3A%2F%2Fwww.rollingstone.com%2Fpolitics%2Fnews%2Fbank-of-america-too-crooked-to-fail-20120314&rft.jtitle=Rolling+Stone&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal">Â </span></li>
</ul>
<h2>
<br /></h2>
<br />

Bank Of America - Founder Bank

Bank of America (abbreviated as BofA ) is an American multinational banking and financial services corporation headquartered in Charlott...