Bank Of America Case Study

Bank Of America Case Study
Opportunities and Risks Associated With the Bank of America
Name:
Institutional Affiliation
Opportunities and Risks Associated With the Bank of America
Bank of America is a multinational financial cooperation and a banking institution with its headquarters based in Charlotte, North Carolina. In terms of
assets, the bank is ranked the 2nd largest banking corporation in the United States of America and the 26th largest company in terms of total revenue.
The bank operates in more than 35 countries with a customer base of more than 47 million clients with 4,500 retail centers in the banking sectors. Its
Chief Executive Officer is Mr. Brian Moynihan, who is also the chairman of the Board of Directors (Bank of America, 2017). The bank offers its clients
with a variety of services such as asset management, banking, investment, credit and risk management services. This paper, therefore, seeks to explore
the current opportunities, potential opportunities, and risks that Bank of America encounters in its business operations in different countries.
Current Opportunities Associated With the Bank of America
The US financial sector is the most liquid market in the globe representing 7.5% United States GDP. The banking business supports the globes biggest
economy with more concentration directed towards the private sector (2017). The Bank of America is one of the leading banks in the United States of
America in terms of assets and revenue collection. This is due to some of
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Essay on Bank of America Case Analysis
Bank of America – Case Analysis
Prepared
By
Kesha S Mitchell
April 30, 2013
AMBA 650–1134
Marketing Management and Innovation
Professor Philemon Oyewole
In 2007, Bank of America (BofA) Corporation launched the largest secure mobile banking service in the United States and has over four million
mobile banking customers. BofA mobile banking service gives the customers access to their checking accounts for balance, transfers funds and to pay
bills through a mobile application (app) on their mobile phones and the mobile web on their phone's browser.
In past years, BofA has been discussing the bank's mobile strategies concerning mobile banking and how to incorporate mobile banking that is specific
to the customer's ... Show more content on Helpwriting.net ...
These advantages led the smaller businesses to concentrate on convenience locations, better customer service, reduction of banking fees, waiving of
ATM fees and the ability to cross–sell extra products and services. According to the research, in 2009 the consumers chose their banks based on
traditional criteria, such as low account minimums, competitive rates, and convenient locations. (Case, pg. 2)
Competitors
BofA competitors in the US bank holding companies are JP Morgan Chase, Citigroup, Wells Fargo and PNCFinancial Services Group. JP Morgan
Chase is the leading mortgage lender and credit card issuer in the financial industry. It has more than 5,500 branches, operational in over 60 countries
and it brags investment banking and asset management operations.

Citigroup has over 200 million customer accounts and does business in more than 160 countries. It supplies deposits and loans, asset banking,
brokerage, and wealth management. Citigroup selling strategy is to sell to underperforming and noncore businesses and to refocus on traditional
banking.
Wells Fargo Bank has over 6,200 bank branches in 40 states in the US. It believes in community banking which consists of corporate banking,
investment banking and provides financial advising in wealth management, retirement, and brokerage services.
PNC Bank operates

Bank of America
Organizing Paper пїЅ PAGE пїЅ1пїЅ
BANK OF AMERICA
Bank of America is one of the biggest companies with a lot of employees. Bank of America was founded in 1874 known as the Nations Bank till its
acquisition of a San Francisco–based Bank of America in which it assumed its current name.
Bank of America is one of the leading financial companies in the world. When dealing with assets, it is the second largest. Bank of America has a
profit of 31.61%. The factors that hurt the bank would be due to customers closing accounts without making the bank aware and making sure that they
have a system in place for when they received checks written in large sums to be cleared. Another weakness would be holding on to the customers '
direct deposit to cover ... Show more content on Helpwriting.net ...
They are there to support their employees with family and personal responsibilities.
Among the common policies adopted to support and recognize the evolving needs of employees in relation to their personal and familial life are
counseling programs that
assist employees on matters regarding personal life and provision of child and eldercare
services so that employees can attend their familial obligations while at work. The
company also employs flexible work arrangements as telecommuting, compressed
workweeks, flextime, so that employees can further balance their responsibilities.
Because the bank 's employees are themselves similar to the people or
customers that the bank serves, they are furthermore entitled to certain discounts in case

they want to avail of company 's products and services including Housing loans,
Commuter benefits, disability loans, and educational partnerships, among many others.
The human resource department is an integral part of any organization. This is especially in the case of Bank of America where the human resource
is at the core of its mission. Taking care of the human resource is of utmost important because it is the people who make up the organization and it is
the people who actually bridge the objectives of the organization into action. The people are an important resource in any organization because they
are the major source of ideas and active executers of service of any organization. The Bank of

Corporate Social Responsibility Strategy for Bank of America
Organizational Background– Bank of America is a multinational banking and financial services firm that has become a mega–giant the second largest
holding company in the U.S. and the 3–4th largest bank in terms of overall capitalization. The headquarters are in Charlotte, North Carolina, with the
bank servicing clients in over 150 countries and some type of business relationship with over 99 per cent of U.S. Fortune 500 companies and 85 per
cent of the Global Fortune 400. Forbes lists BofA as the 3rd largest company in the world, holding about 13 per cent of all U.S. deposits and 57
million customers (Bank of American, 2011; The Global 2000; Fortune 500).
Background to CSR – In this environment, the impact of behaviour, values and ethics on achieving a company's strategic vision represents a timely
and valuable undertaking. This behaviour, often called Corporate Social Responsibility (CSR) is a new focus on ethical and social issues (Sen &
Bhattacharya 2001). CSR leads marketers to the notion of both global and stakeholder responsibility, and an organizational system that begs for
sustainability not just to outlast the competition, but to increase customer loyalty, presence in the global market, and a stronger unification with the
political bureaucracies. There is a clear integrative framework involved that impacts the idea of sustainable marketing concepts (Maignan & Ferrell
2004). Indeed, at the same time, "culture" has changed, too; there is likely not a country in the

Bank Of America Essay
Bank of America Corporation Bank of America is a banking and financial service industry located in Charlotte, North Carolina. If you would like to
access the internet address for Bank of America, then you can click on this link provided https://www.bankofamerica.com . Its primary SIC Code is
6021 – National Commercial Banks, and its primary NAICS Code is 522110 – Commercial Banking. The Bank of American provides many goods and
services for its customers such as banking, credit cards, loans, and investments. Every day Bank of America is competing against many competitors
but JPMorgan Chase and Wells Fargo are some of the largest. Bank of America's stock exchange ticker symbol is NYSE: BAC. The external auditor
is PricewaterhouseCoopers LLP in Charlotte, North Carolina. In 1904, the bank had officially opened for business. The company was founded by
Amadeo Peter Giannini. By the age of 21, he earned half ownership of the business. Then in 1958, BankAmericard was introduced and licensed to
other banks across the country. In 1998, Bank of America began creating the first coast–to–coast banking franchise. As the years went by, Bank of
America made great progress. Between 2004–2006, the company bought FleetBosten Financial and MBNA. As of today, the company provides... Show
more content on Helpwriting.net ...
Right now I will be talking about their internal strengths and weaknesses. One of the companies main strengths is how Bank of America is the
leading market in the United States. This company has always set the standards for other businesses. Bank of America is also an extremely well
planned and thought out product and service innovation corporation. But, Bank of America also has its weaknesses such as deteriorating asset quality,
declining net interest margins and weak wholesale banking operations. Every business is going to suffer from some weaknesses because no one is
perfect nor going to be

Bank Of America
Bank of America – Mobile Banking
1– What benefits does mobile banking provide to consumers? At the time of the case, why haven't many consumers adopted mobile banking yet?
There are many benefits that mobile banking provides to its consumers, but I would like to focus on the top three that I think are the most important.
Convenience is at the top of the list because of the fact that consumers can access their bank accounts on the move from anywhere they have data on
their mobile phone. Users can complete basic banking transactions such as checking bank/credit card accounts with simply a couple clicks. The second
one that I believe is important is the effect of efficient payments. Not only will they be able to check their account balances, but they will also make
certain payments to whomever they want. If one wants to transfer money to their family in Istanbul, for example, they can simply send it over without
the need to go to the bank. Mobile banking can easily substitute for the use of actual debit/credit cards because of the new technology such as
Bluetooth, RFID, infrared or NFC. This means that one does not have to take out their payment card, enter their pin number, sign and walk away with
a receipt in hand and instead easily and without any contact, can do local mobile payments.
Entrepreneurship is unleashed with this new technology, as more and more businesses will adapt to this in the long run because of the ease of
payments. There are however many consumers that

Summary Of Bank Of America Acquisition Of Merrill Lynca
Case Analysis; Bank of America Acquisition of Merrill Lynch
Executive summary
Bank of America acquired Merrill Lynch in 2008. There were challenges that followed the acquisition. The following paper is an analysis of some of
the challenges that transpired at the time. There is the statement of the problem and a proposition on how the management can handle it. The paper
then outlines what could have caused the problem and goes ahead to give solutions to those problems. There are the recommendations of how to
permanently solve those problems at the end of the paper (Grant, 2016).
Background
Between the 13th and 14th of September 2008, the Bank of America and Merrill Lynch entered a deal which would see the former acquire the latter. It
was one of the biggest deals to have ever happened in the corporate world. Despite the signing of the deal, there was a host of problems that followed
it (Davis, 2008). There are questions that emerged later, and they still demand answers. The current paper seeks to identify the problems that emerged
as a result of the acquisition and propose solutions.
Statement of the problem
Unhappy and unsatisfied employees of the two entities who feel they were not involved. Angry shareholders who want an explanation as to why things
are the way they are. They do not understand why the share price is falling in the stock market (Davis, 2008).
The main cause of the problem was the hasty acquisition of Merrill Lynch. Both the employees of the two entities

Bank Of Americ A Look At America
Bank of America:
A Look at America's #2 BankВ¬В¬В¬В¬В¬В¬В¬
By
Finance for Managers
Richard Bristow
Professor Maria Perez
Saint Leo University
February 24, 2017
Since one of the largest positions in my investment portfolio is Bank of America, traded on the NASDAQ under the symbol (BAC), I decided to take
and in–depth look at this company and hopefully see for myself why this stock and other financials have performed so well over the past few months.
I also hope to educate myself more about BAC and financials in general, so that I can have a more detailed and meaningful conversation with my
portfolio manager about why he chose BAC as my largest financial position.
Abstract
By definition, banks are: "A financial ... Show more content on Helpwriting.net ...
It went on to mention that BAC had been struggling with regulatory changes from the previous administration, but that talk of deregulation by the new
Trump administration could help improve BAC's position moving forward. (The Wall Street Journal, 2017, n.d.).
Now, according to the latest data from Investopedia, BAC's Price to earnings ratio, (P/E) is 17.56, which is a high, and I like to keep P/E ratios for
companies that I invest in at lower than 14, but since a lot of this growth has occurred since my initial investment, I am ok with its high P/E ratio,
although BAC may be a stock that needs to be considered for profit taking by any investor who bought this stock prior to last year. Another
consideration for a potential BAC investor is the fact that BAC pays a dividend. Before an investor should consider buying or selling a stock, it should
always contemplate how dividends should be incorporated in that decision. BAC current pays a 1.44% annual dividend. (Investopedia, 2016, n.d.).
While 1.44% may not seem like a lot, it is attractive to me as an investor because that extra percentage can cover a large portion of the fees involved
with trading stocks. I think people tend to overlook these important details when considering an investment.

In general BAC and financials have had a really good run and many may seem expensive compared to other investments,

Bank Of America Case Analysis
Bank of America originally started out as Bank of Italy in 1904 by Mr. Amadeo Giannini in a San Francisco neighborhood. The bank served Italian
Americans from the North Beach area and in 1906 Mr. Giannini saved all the deposits during the San Francisco earthquake and fire. He was able to
resume banking before most banks could. In 1930 Bank of Italy changed its name to Bank of America. In 1950, Bank of America was the first bank to
use a computer to help with their banking. According to Bank of America's site ("Our Story: Technology", n.d.), they teamed up with Stanford
Research Institute and created ERMA (Electronic Recording Method of Accounting), which was debuted in 1955 by Ronald Reagan through a
video conference. ERMA helped process checks faster, post to accounts, and calculated service charges to name a few, but more importantly it made
banking more efficient. Today the headquarters for Bank of America is in Charlotte, N.C. and the banks are in all 50 countries, District of Columbia,
and over 35 countries. They have approximately 16,000 ATM's, 4,700 retail financial centers, over 20 million mobile users and 47 million customers
and small businesses. According to an article in the Salina Journal (2016), they employ 209,009 people at this time, and more than 74,000 less than
when CEO Brian Moynihan took over in 2010. This is fewer employees than what they had when they acquired Countrywide Financial in 2008 and
Merrill Lynch in 2009. ("Bank of America

Swot Analysis Of Bank Of America
The paper would focus on Bank of America as one company that makes use of differentiation strategy that concentrates on product form, and the brand
image The orientation herein focuses on primary factors that associate with the strategy pointing out the different specific company activities that
support the company. Through the business strategy,Bank of America's prospects have proved matchless to other notable and established companies
such as Airbus and United Technologies, who offer competition in the aviation–based business. Bank of America is a multinational banking and
financial services corporation headquartered in Charlotte, North Carolina. It is ranked 2nd on the list of largest banks in the United States by assets.
Strengths: Most strengths come because of the popularity of the brand which is a result of the scale of operations. Bank of America operates in more
than 150 countries and has a relationship with 99% of the U.S fortune 500 companies and 83% of the fortune global 500(Bhasin,2016). In 2008, Bank
of America gained Merrill Lynch which made it the world's biggest riches director and principle organization in the venture managing an account
business. Because of different acquisitions, mergers, and joint ventures the organization has a solid position and nearness in residential market.
Manages an account with an overwhelming store base normally rule the loaning space. As of December 31, 2016, Bank of America held $1,204.49
billion

Bank Of America Failure
With Bank of America's earnings release approaching, investors and analysts continue to wait and see if the "too big to fail" bank will ever pick
itself up from the financial crisis of 2008. Although banks such as Wells Fargo & Company dug themselves out of the hole long ago, Bank of
America cannot break free from the chains of a recession that has long since passed. Over the years, the bank struggled with legal fees and expenses
incurred from the financial crisis of 2008, and the bank still cannot shake off the problems of the past some eight years later.
Although many analysts remain bullish on the stock, Bank of America continues to lag behind its biggest competitors in all facets of the financial
services sector. Pundits point out that BAC currently trades below book value making it attractive to value investors and that a rising interest rate
atmosphere will return the company to sustained profitability. However, investors continue to wait for the company to report strong profits as it
continues to struggle to pay fines and legal fees that occurred from the crisis' aftermath. ... Show more content on Helpwriting.net ...
In the past month, BAC did not break the $18 per share threshold by topping out at $17.67 on June 23rd; only to see its stock price slip back down to
$16.71 per share on July 7th. In the past year, BAC's stock price failed to break out of its long–term rut by continuing to trade between $15 and $17 per
share with nothing signaling that the stock will free itself of the current trading pattern anytime

Essay On Bank Of America
In the SWOT analysis for Bank of America one I performed a SWOT analysis for the Bank of America. I assumed the role of a mutual fund manager
work for First Investment Inc Investment Inc. With the information I gathered in part one of my paper I made the decision to invest in Bank of
America. In part two of these papers I will further explain why I chose to invest in Bank of America. This paper will address the financial health of
Bank of America by reviewing the banks income statement, balance sheet, and cash flow (MGT/521 course syllabus). I will also analyze Bank of
America's financial health and compare it against another bank. After I do the comparison I will compare Bank of America technological advantages,
or address any ... Show more content on Helpwriting.net ...
Clearly Kenneth Lewis did do his homework on Countrywide Financial. Kenneth Lewis knew the financial state of Countrywide Financial and failed to
relay the messages to the other stakeholder in the company.
If I were put in the same situation as Kenneth Lewis I would hire someone who is knowledgeable on how to conduct a SWOT on a business before
a purchase. I would share the outcome of the SWOT with the stakeholders and I would hire someone to do a background and market analysis on
Countrywide Financial. "The reason the stock is tanking is because the market does not believe Bank of America's assets are worth what they say they
are worth" (Henry Blodget 2011). First Investment Inc believes that the main reason is Bank of America's failed to do the proper outlook investment
analyses.
Bank of America's management should have conducted future analyses on where the business is today and where what the future holds. The managers
at Bank of America should review the banks financial situation. Bank of America should have first looked at what their competitors were doing and
the state of the economy. Bank of America should have should have taken the time to analyze the mortgage and real estate brokers, by not analyze the
mortgage and real estate brokers people purchase property that they couldn't afford. The price of houses declined in 2006 this caused the houses that
were

Bank Of America Research Paper
"The bank grey rapidly; in 1910 it had assets at $6.5 million. By 1920, assets totaled $157 million, far outstripping the growth of any other California
bank" (Bank of America Corporation). Later, Giannini wanted to expand his company nationally. He knew that he only needed a few large regional
and national banks to dominate American banking; he decided to increase the number of his branches. "He already owned New York's Bowery and
East River National Bank (as well as a chain of banks in Italy); next he established Bank of America branches in Washington, Oregon, Nevada, and
Arizona, again before branch baking was explicitly permitted" (Bank of America Corporation).
"By 1936, Bank of America was the fourth largest banking institution in the... Show more content on Helpwriting.net ...
It is also known to be one of the most common forms of market structure in the United States. According the book, Economics for Today,
"Economists define monopolistic competition as a market structure characterized by many small sellers, a differentiated product, and easy market
entry and exit" (Tucker 268). For the banking industry there are many small sellers; many of the sellers are the primary competitors of Bank of
America, they include: JPMorgan Chase, Wells Fargo, and Citigroup. (Maverick) All of these banks do business internationally and are part of the
three money center banks in America. According to the Investopedia, "Banks basically make money by lending money at rates higher than the cost
of the money they lend. More specifically, banks collect interest on loans" (Simpson). The net interest income makes up about half of Bank of
America's total income. The other half is made up of other services, for example, investment and brokerage service and trading account profits. (King)
"Investment and brokerage services primarily include asset management fees and commissions on the sale of financial products" (King). Banking in
general has an easy enter and exit market. It is easy to exit the market for various reasons. One of the reasons includes the broad range of competition
that Bank of America has. Not only does Bank of America compete with commercial banks

Comparison Of Bank Of America And Southern Bank
The industry that I have chosen to analyze for this paper in the banking industry. The companies which I have selected to analyze are Bank of America
& Southeastern Bank. Bank of America will represent as the example for the company who has acquired and merged with other banks, and Fresno
Southeastern Bank will act as the example for the bank who has never merged with a larger bank in any form or has been acquired. Both these banks
offer similar products to their customers, for checking and savings accounts to home and car loans. They both offer investment products as well. Bank
of America has a lot more products on a larger scale due to the size of their company, and the mergers they have made over their history. They operate
worldwide ... Show more content on Helpwriting.net ...
They sell the debt that have underwritten to investors all over the world. From mortgage–backed securities to other types of packages bonds, they are
sold to wealthy individuals and even the government of a country. They also sell investment portfolios to abroad. Their strategy involves presenting
foreign investors abroad an opportunity to invest in the USA. There is a huge demand for investments in the US, as our economy is much smore
stable and lucrative then their local investments opportunities. Companies in the US looking for a capital injection, can also turn to Bank of
America and have them find an investor. They will then underwrite the terms, and broker the deal. A lot of these types of deals are dealt with
foreign investors. Foreigners are always looking to take their local currency and convert it into dollars, since it is a stable currency, and these
investments enable them to be able to do that. They focus on creating the best investments in the US for those abroad. While the demand isn't as
strong for Bank of America to offer US investors an opportunity to invest in international markets abroad, they do offer this as well. The strategy on
the business level is go after international investors since the demand is so high for US based investments, and on the corporate level is to keep
creating new investment opportunities as a

History Of Bank Of America
Bank of America (BOA) is a multinational banking and financial services corporation, headquartered in Charlotte, North Carolina. The History of
BOA starts in 1904 when Amadeo Pietro Giannini opened the Bank of Italy in San Francisco. In 1930 it merged with Bank of America of California,
and that is when it gained its name. In 1968 this Corporation was organized in Delaware as a holding company for Bank of America National Trust and
Savings Association and other financial subsidiaries. In1983 BOA merged with the biggest Washington state bank "Seafirst Corporation", which was
the largest United States interstate bank. BOA purchased their biggest competitor in California, (the Security Pacific Corporation) in 1991. On 1998
Nations Bank acquired

Wells Fargo vs Bank of America
The Perfect Match: Wells Fargo vs. Bank of America The banking industry is highly competitive. The financial services industry has been around for
hundreds of years. Wells Fargo has many competitors itself. In this paper, I will be doing a comparison of Wells Fargo & Company (WFC) and
one of its biggest competitors, Bank of America Corporation (BAC). By analyzing looking at the financial ratios, one can see whether the company is
successful or not. In the following, I will try to analyze and make a comparison of Wells Fargo's and Bank of America's recent performance in growth,
income, and efficiency. Using a these criteria, I will determine which bank is the better buy according my analysis. My analysis of WFC & BAC's
performances ... Show more content on Helpwriting.net ...
Wells Fargo's deposits totaled $847.9 billion at December 31, 2010, compared with $824.0 billion at December 31, 2009. (p 53 on 10k) Year
–end total
loans of BAC increased $40.3 billion to $940.4 billion in 2010 compared to 2009. According to its 2010 annual report, the increase was primarily due
to the impact of adopting new consolidation guidance partially offset by continued deleveraging by consumers, tighter underwriting and the elevated
levels of liquidity of commercial clients. WFC total loans... BAC's year–end total equity decreased $3.2 billion (–1%) in 2010 compared to 2009.
According BAC's 2010 annual report, the decrease was primarily driven by goodwill impairment charges of $12.4 billion and the impact of adopting
new consolidation guidance as BAC recorded a $6.2 billion charge to retained earnings for newly consolidated loans. WFC year–end total equity .... In
2010, BAC reported a net loss of $2.2 billion compared to net income of $6.3 billion in 2009. (pg 31) In comparison, WFC reported a profit increase
for the full year of 2010. WFC year–end net income was $12.4 billion in 2010 compared to $12.28 billion in 2009. This is a 1% increase. Wells
Fargo attributed most of its increase in net income to revenue growth across many business sectors, improvement on asset quality, and the acquisition
of Wachovia Corporation. The increase in net income was also attributable to a reduction in provision for credit losses; the bank was able to lessen its

Bank Of America Perception
One of the crucial concepts that influence organizational structure in the Bank of America is the perception that is the process by which people
organize, select, interpret, reacquire, and respond to information from the world around them. Perception plays a key role in the organizational culture
of the company and is responsible for the attitudes, beliefs, biases and code of conduct displayed by the employees of the company. The perception
held by the employees of the company may lead to improved performance and productivity in the company by creating strong bonds between the
employees hence fostering teamwork. This attribute is important in creating stability by improving customer service in the bank,

Bank Of America Essay
Bank of America is known for being a bit of a risk–taking firm. Acquisitions make up a large part of the past for the organization. Prior to the financial
crisis in the early 2000's, Bank of America acquired FleetBoston Financial in 2004, MBNA in 2005, and ABN AMRO North America and LaSalle
Bank Corporation after that. The acquisitions provided advantages to set the organization apart from the competition. They were able to become a
major player across the world and became a major credit card issuer as well.
Another acquisition of Countrywide Financial provided the ability to make a strong stance in the mortgage business landscape. A major merger for the
company, with Merrill Lynch, was originally thought to be surrounded around some... Show more content on Helpwriting.net ...
IFE Matrix
Internal StrengthsWeightRatingWeighted Score
1.Large firm in the market10%40.40
2.Global competitor5%40.20
3.Innovative capabilities12%30.36
4.Internal strength capabilities4%40.16
5.Strong acquisitions5%40.20
6.Increasing cash flow4%30.12
7.Merrill Lynch name3%30.09
8.Good reputation8%40.32
9.Customer programs4%30.12
10.Sustainable operations4%30.12
Internal Weaknesses
1.Debt repayment abilities15%20.30
2.Operation costs8%20.16
3.Overcoming past sketchy mergers4%10.04
4.Executive loyalty4%10.04
5.Risk management10%10.10 major weaknesses (1), minor weaknesses (2), minor strength (3), major strength (4)
Total Weighted Score100%2.73 EFE Matrix
OpportunitiesWeightRatingWeighted Score
1.New customer markets12%20.24

2.New technology designs10%40.40
3.Acquisitions 8%30.24
4.Global competitiveness 11%30.33
5.Innovation16%40.64
Threats
1.Financially sound competitors15%20.30
2.Economy stability8%30.24
3.Key executive retention5%20.10
4.Bad publicity10%20.20
5.Government regulations5%10.05 poor (1), below average (2), above average (3), superior (4)
Total Weighted Score 100%2.74
RUNNING

Bank Of America Social Media Analysis
Bank of America was founded in 1904 by Amadeo Peter Giannini when he opened the bank of Italy in San Francisco, it later developed to what we
now know as Bank of America. In1958 Bank of America issued its first bank credit card(Bank AmeriCard). Bank America's most substantial purchases
was in 1983 the purchase of Washington StateBank. Bank of America became the first bank to offer Coast to Coast operations in the United States and
expanded to New England with the acquisition of Fleet Boston Financial Corporation in 2004, by the early twenty–first Century BOA was operating
more than 5,500 Bank branches 20 US states in which they conduct corporate and Investment Banking in numerous countries worldwide. Its merger
with MBNA Corporation in 2006 ... Show more content on Helpwriting.net ...
Bank of America also has a program called Merrill Edge in which consumer can be educated on investments and are able to invest their funds on
business ventures as well as retirement. As I searched through the site I was very impressed Bank of America seem to touch base with everything
from their history to their values and their they have managed to be very specific and detailed. As far as social media is concerned Bank of America
has also shown their interest in utilizing social media to reach out to their consumers they have participated in Facebook, Instagram, Twitter and even
YouTube and checking out their social media I noticed that they have used those platforms to educate their consumers letting them know of new
programs and giving tips on how to save money and invest their money as well. The banking industry is a virtual component to individual business
National and Global Financial well–being. The banking industry builds and sustains Financial relationships with its consumers of all sizes to supply
Financial products and services to stimulate economic growth.
The industry participants produced a variety of services from savings accounts to home and business loans mortgages checking accounts and

Service Marketing On Bank Of America
Jaquelle, Silam, Silas, and Trang
Service Marketing on Bank of America
Based on service Intangibility
Unlike goods, services are typically produced and consumed simultaneously. The service and provider are always linked together. Banking is one of
industries need much more services. Employees, Email, ATM, Online banking are the vehicles that the bank uses to deliver their services to the
customers. "Products are tangible while services are intangible in nature. Intangibility of services is derived from the fact you cannot see or touch
service. A service is made and delivered on spot and hence it cannot be measured as easily as a tangible product as you know."
Intangibility of services can be explained by a clear comparison between those ... Show more content on Helpwriting.net ...
Marketing an intangible product becomes even more difficult in the Bank of America. The ability to a branch to render quality services is very
impossible to market. How can you grade one branch against the other, because there are thousands of branches of Bank of America out there and
the success of banking also depends on the ability of the customers to corporate. Thus, in such a case, you need to market customers results to bring
attention to Bank of America and the employees. You need to show the excellent results which the employees has given because the service in itself
is intangible service. Another problem due to intangibility of service is that services cannot be stored. The intangibility of services is the dominant
characteristics of services and biggest challenge for marketers as well as service product owners. There are five main characteristics of intangibility of
services:
Service cannot be touched
There is no precise standardization method for service
Services cannot be patented
There are no inventories in service
The consumer is part of the service process because he consumes the service. Thus, either the service must go to the customer or the customer has come
to the service e.g. Bank of America
Overall, intangibility of service is a challenged being faced by many marketers, and marketers, being smart as they are, have always countered this
problem by being more innovative so that they can

History Of Central Banks Of America
Abel Shiferaw Econ 201 Prof Emma Cummings 05/01/2015 History of Central banks in America Even though central banks can improve a
nation's economy and are beneficial to governments, the central banks of America had a very controversial history. Even before the establishment
of the Federal Reserve, banks were used by the public just as we use them today. Bank notes were in use during this time and they were backed up
by the guarantee that they can be traded for either gold or silver on demand. The history of central banking in America dates back to 1781 when
the first bank of North America was chartered by the state of Pennsylvania with the help of Robert Morris. It was the first ban k in America's
history to receive deposits and issue its own banknotes. Four years later, two more banks were created that also issued their own bank notes: the
bank of New York and the Massachusetts bank. (thismatter.com) Some were not very supportive of the formation of a central baking system
because of England's efforts to place the colonies under the control of the bank of England while others were strongly in favor of it. As stated in the
articles of confederation, congress was given the power to print bills of credit and to establish a national bank similar to the bank of England but
objections rose of "alarming foreign influence and fictitious credit" (Wikipedia.org) that hindered its ability to accomplish its intended role. On
February 25 1791, following the bank of North America, the

Bank of America (BofA) is a multinational banking and financial services corporation, ranked 2nd on the list of the largest banks in the US and
operates in more than 40 different countries. The bank has over 46 million consumers around the world, with 4600 banking centers and 15,900
automated teller machines. Bank of America Corporation has 8 different lines of business all with the same purpose of helping individuals navigate
their financial lives and working with companies both large and small to drive the economy forward. The lines of business include retail, preferred and
small business, Merrill Lynch Wealth Management, U.S Trust, Business Banking, Global Commercial Banking, Global Corporate & Investment
Banking and Global Markets. Clearly ... Show more content on Helpwriting.net ...
It has a strong brand name and has a great financial position globally, since they are active in so many countries. It is also a leader in global wealth
management and has a diversified portfolio that provides many different services. Some of their weaknesses is that majority of their income is from
their home market of USA and holds a much smaller market share outside of the states. This has set up an opportunity for BofA to tap into foreign
markets and try to increase business there, which they can do but trying to merge or acquisition some major banks in other parts of the world. BofA
has also put a large emphasis on the strategy of simplify and improve and with that in mind have many opportunities to work towards that goal. Some
threats to BofA is having anther financial crisis or recession which can greatly harm the business. Over the past couple of year, BofA's main
competitive have been growing their market share and are starting to threaten BofA's own

Bank of America Case Study
Executive Summary
Bank of America
Bank of America Corp.
Group Members:
Mary Bruton
Shawn Harsaran
Carlos Leal
Tom Egurrola
Jennifer Stanis Broward College
MAN4720
September 09, 2013 Professor James Popino
According to Bank of America, they're focusing on creating real, meaningful connections with individuals, businesses and communities to help them
connect with what matters most. Bank of America is proud to partner with 57 million customers, bringing them skills and expertise, to help make their
financial lives better. (Bank of America company overview, n.d). These ideas and objectives are further exemplified through Bank of America's mission
and vision statements, as well as its objectives ... Show more content on Helpwriting.net ...
Strategies
According to an article published in Forbes Magazine, Bank of America's strategy is to find better ways to serve banking customers through
automation and get all of its customers to use all of its products. CEO Brian Moynihan said in a presentation to investors when the company gets its
customers crossing over from investment services to banking to borrowing, it gets seven times the revenue. The bank's research shows Merrill Lynch
customers have more than $500 billion of deposits in other banks and $400 billion worth of mortgages with competitors. Bank of America was
among the hardest hit during the credit crisis. It received $45 billion in bailout funds from the federal government, including $20 billion for Merrill
Lynch. The company faced waves of loan defaults as more customers fell behind and investments soured. Banking customers will see some changes as
the bank adjusts to new regulations that have cut into fees. The bank has reduced branch numbers and cut jobs, which will continue as more automated
and less expensive ways of serving customers are implemented. Automated transactions are growing at a rate of 8 to 9 percent a year while

teller–based transactions are down 5 percent year after year. Additional growth opportunities come from international expansions. Bank of America
hired 800 people abroad as it worked to boost investment banking services in other countries.
Industry
Bank of America offers

The Letter At Bank Of America
Douglas MacArthur once said, a true leader has the confidence to stand alone, the courage to make tough decisions, and the compassion to listen
to the needs of others. He does not set out to be a leader, but becomes one by the equality of his actions and the integrity of his intent. My Vice
President (VP) Ed Odum at Bank of America comes to mind regarding Bank of America's great leaders for the bank. Some people are born great
leaders in conjunction with not needing a degree under their belt, but will receive a degree knowing the requirements to move up in the glass
ceiling in business. I emailed my VP, and asked if I can sit down with him in a like manner to interview him as a result of my assignment for
school. After three weeks went by, he came to my desk and asked me to follow him. My staff heard him, as I got up from my desk, all eyes are on
me as they watch me walk behind him to the glass room that the workers have giving a nickname of (the jack up room). He started off by saying,
he just wanted to make me sweat a little bit in front of my staff, he notices I had pin and pad with me already so he was glad about that, he went on
to say that he was not aware that I was in school, since I am always at work, and he had time for the interview. As looked at him, I realize that I did
not have my notes and I could not go back to my desk and print out my assignment. As my brain is going full blast, trying to see what is needed for
this paper. I went into an interview mode

Bank of America's Choice of Comparable Companies. (Tab 1 & 2– Business Profile & MM Ratios)
The footwear and apparel industries are subjected to significant pressure because of the high competition and rapidly changing consumer patterns and
demands. KCP is competing with many big players who have strong business and financial resources, enjoy brand recognition, and capture a significant
market share. The Bank of America's comparables are mostly in the apparel & footwear industry; however, not all of the companies are in the same
industry sector, nor serve the same product lines and end–market. Companies that share core business characterises tend to serve as good comparables.
The comparable selection of the Bank of America is too broad and must be refined to a subset of closest comparables for a better valuation indication.
After reviewing the business and financial profile of the Bank of America selections, the list has been narrowed down to the following five
selections: Deckers Outdoor Corp., Fossil Inc., The Jones Group Inc., Steven Madden, Ltd, and Wolverine World Wide Inc as the best comparables
for KCP. The selected comparables are all involved in design,marketing, and distribution of consumer fashion. They share similar business focus, core
business characterises, and serve relatively similar customers and end markets; therefore, will serve as good comparables because they share similar
key drivers, customers base, risks, and opportunities. Companies in distress

Bank Of America Ethical Analysis
Ethical Analysis of a Firm: Bank of America Bank of American is an American multinational banking and financial services corporation, founded in
1874, that is headquartered in Charlotte, North Carolina (Intelligent Investor, 2016). According to its website, Bank of America traces its roots back to
the Civil War via its heritagebank, The State Bank of Albany (Bank of America, 2016). It is a full service bank offering various banking andfinancial
services for individuals, businesses, investors, corporations, and governments in the United States and internationally through operating 5,100 banking
centers, 16,300 ATMs, call centers, and online and mobile banking platforms (Intelligent Investor, 2016). Bank of America was listed by Forbes in...
Show more content on Helpwriting.net ...
Already in poor financial shape from a downturn in the economy, Bank of America compounded its problems by acquiring Countrywide Financial,
the largest mortgage originator in America (at the time) in 2008 (Maxfield, A Brief History of Bank of America in Crisis, 2015). This acquisition
proved to be a very huge mistake for the bank. Countrywide lacked integrity when it came to underwriting and selling mortgages and had very
unethical loan origination processes. Its property appraisers inflated home values, its loan officers helped applicants falsify income and assets on
their mortgage applications, and its capital markets teams misrepresented the quality of the resulting mortgages to institutional investors like
Fannie Mae and Freddie Mac (Maxfield, A Brief History of Bank of America in Crisis, 2015). The result of this one poor business acquisition alone was
years of legal issues and losses. The legal woes created by Countrywide alone amounted to $40.3 billion of the $91.2 billion levied against the bank
since 2008 (Maxfield, A Brief History of Bank of America in Crisis,

Swot Analysis Of Bank Of America
SWOT Analysis
Bank of America is one of the strongest leaders in the banking industry. They are already leaders in the field and that contributes to their Strengths,
Weakness, Opportunities and Threats which is maintaining this position of leadership. They must always remain aware of shifts in the market and
mortgage industry as well as shifts caused by other mega bank developments that could threaten their market share. The opportunities currently
available include the improved clientele by the regulations which restrict who they can lend to. With stronger borrowers, in today's environment, there
will be fewer defaults and much less financial risk of loss if the loan–to–value ratio should turn in revers and the bank ends up holding on to properties
that are worth less than the loans they spent to fund the defaulted borrowers. Threats include outside competition and their own reputation tarnishment
from their participation in the mortgage lending fiasco that created a lot of problems for many Americans.
Internal to the organization: Strengths and Weaknesses
Bank of America is a member of the Federal Deposit Insurance Corporation (FDIC) and a key component of the Standard and Poor's 500 and the
Dow Jones Industrial Average. As stated above, Bank of America is not only one of the largest banks in deposits, it is also one of the largest as it
relates to footprint and locations. When analyzing the company's strengths and weaknesses, it is evident that Bank of America's

Calibuso V. Bank Of America Case Study
U.S. Diversity Law and Organizational Compliance
Calibuso, et al. v. Bank of America Corp., et al., No. 10 Civ. 1413, in the U.S. District Court for the Eastern District of New York This Class Action
lawsuit, filed on March 30, 2010 and initiated by Ms. Judy Calibuso, Ms. Julie Moss and Ms. Diane Goedtel, was brought against Bank of America and
Merrill Lynch on behalf of themselves and others similarly impacted by on–going, intentional sexual discrimination practices. The plaintiffs argued that
Bank of America and Merrill Lynch participated in patterns ofgender discrimination against their female financial advisors in regards to; the
acquisition of desirable business opportunities impacting their compensation and job advancement, attainment ... Show more content on Helpwriting.net
...
Because both suits were citing discrimination under the Civil Rights Act of 1964, Calibuso was concerned that their Class Action settlement would
lose its cultural impetus in light of the much larger Merrill Lynch settlement.
Seriousness and Scope of Gender Discrimination The seriousness and scope of gender discrimination lies in the fact that although studies have shown
that companies with greater gender parity perform better both internally and financially, women are still significantly underrepresented in all levels of
employment, notably senior leadership. A Women Matter study showed that gender diversity was a top
–ten strategic priority for only 28 percent of
companies in 2010–and for a third of companies, it was not on the strategic agenda at all (2012, McKinsey). Too many companies have yet to grasp
the case for change, however, and still lack both commitment and a program of action (2015, Barton et al.). This glaring lack of recognition within
organizations of sexual discrimination and disparity has its roots in a much deeper cultural

Bank Of America Sustainability
Review of Primary & Secondary Resources We started our research by finding a bank (Bank of America) that is moving towards sustainability but
has not started to apply these concepts into their financial institution. We decided that Bank of America should focus on all the aspects of
sustainability meaning they should have a strong role in being environmentally friendly, they should be socially sustainable, and should be
economically sustainable. In our research, we looked at two major things: the process of any company becoming sustainable and how a bank should
become sustainable in the financial world. We then decided the exact tasks that we want Bank of America to do and began more research on each
specific area. These tasks are:
1.Make the company more ethical by applying sustainable objectives to business strategies
2.Make the company "go green" by encouraging a greener environment inside the company as well as making any future banks sustainable
3.Make the company more economically sustainable by making future financial transactions that are sustainable
4.Monitor the company after the plans have been implemented.
In the following discussion, we explain the research that was needed to apply these sustainable concepts to Bank of America.
Task 1: Make ... Show more content on Helpwriting.net ...
This protects both Bank of America and communities from being taken advantage of companies that temporarily adjust their business plan to take
advantage of Bank of America's sustainable initiatives.
Offering lower interest rates to sustainable projects will help to create more loans that Bank of America could profit off from, shows Bank of America's
commitment to implementing sustainability into their business initiatives, and demonstrates to the public that Bank of America is a member of the
community that offers positive

Bank of America is an amazing bank. In 2002, my family decided to move to Virginia Beach. Since I was 10yrs old, I have banked with Bank of
America ever since. The personnel at Bank of America are amazing! Every time I walk in, they greet me by my name and knows my family. In
particularly, Bank of America helps me watch my credit cards andbank accounts. A couple of weeks ago, someone tried to use one of my credit cards.
I had not realized anything until I received a new card with a different account number. So, I decided to call the company and they explained
everything. Overall, I felt safe and secured that my credit card has protection, including my personal information and my accounts. In conclusion, its
amazing how Bank of America has

Bank Of America Corporation : A Bank Company
Group #8 Project 2 Introduction: Bank of America Corporation. Operates as a bank company that provides banking and nonbanking monetary services
and merchandise through its banking and numerous nonbanking subsidiaries throughout the US and insure international markets. It operates through 5
segments: client & Business Banking, client land Services, world Banking, world Markets and world Wealth & Investment Management. The
buyer & Business banking section offers a wide–ranging vary of credit, banking and investment merchandise and services to shoppers and
businesses. Its merchandise embody ancient savings accounts, market savings accounts, CDs, IRAs, noninterest– and fixed costs checking accounts
and investment accounts. The client the buyer the patron land Services section provides an in depth line of consumer land merchandise and services to
customers nationwide. Its merchandise embody fixed– and adjustable–rate first–lien mortgage loans for home purchase and refinancing wants, HELOC
and residential equity loans. The worldwide Banking section provides a variety of lending–related merchandise and services, integrated capital
management and treasury solutions to purchasers, and underwriting and consultative services. The worldwide Markets section offers sales and
commerce services, which has analysis to institutional purchasers across mounted financial gain, credit, currency, goods and equity businesses. The
worldwide Wealth & Investment Management section

Bank Of America Vs Rebollo Essay
In 2008, Bank of America purchased Countrywide Financial, a mortgage lender based in California. Shortly after this acquisition, information came out
that employee Rene Rebollo had slowly been downloading information about clients onto thumb drives and selling them to other mortgage companies'
employees. Information stolen included customer files, many with social security numbers and other personal forms of identification (Reckard 2011).
Millions of customers were compromised in this breach, and the costs for Bank of America and Rebollo were high. Due to the fact that Rebollo was an
employee of Countrywide, the breach was considered an inside breach. Inside breaches are uncommon, and at the time that it occurred, this was one of
the largest recorded (Reckard 2011). Rebollo was a senior analyst with Countrywide Financial at the lending division, Full Spectrum Lending. Over the
course of two years, beginning on 2006, Rebollo downloaded personal information from 2.5 million customers from mortgage portfolios in supposedly
secure pools. Information stolen included social security numbers, addresses, credit and bank account information, and other information that is
generally included on mortgage documents and applications (Countrywide Financial Corp. Customer Data Security Breach Litigation n.d.). ... Show
Bank of America offered free credit counseling, identity theft insurance to as many as 17 million customers, and in some cases offered losses for up to
$50,000. The breach led to more than 30 law suits, including multiple national class action suits. Not including court costs, these settlements amounted
to around $56.5 million dollars (The Convergence of Data, Identity, and Regulatory Risks 2011). The costs for Rebollo were not only monetary. He
was ordered to pay $1.2 million dollars, along with eight months in prison, and 10 months in a halfway house (Reckard

Bank Of America Scandal
Bank of America Corp employees have alleged that the bank deliberately denied eligible home owners
loan modifications and lied to them about the status of their mortgage payments and documents. The
bank cleaned out its HAMP backlog in an operation called "blitz," where it declined thousands of loan
modification requests just because the documents were more than 60 months old, according to
documents. Bank of America and four other banks reached a $25 billion landmark settlement with
regulators in 2012, following a scandal in late 2010 when it was revealed employees "robo signed"
documents without verifying them as is required by law. This is unethical because the case is not
actually viewed. The foreclosure documents are signed without

Bank of America
Bank of America
IS enhances business strategy:
The world is a rapidly changing canvas that visits a dynamic and turbulent environment on senior managers changing how Information Systems (IS)
are used and needed in each organization. The power to collect, assess, and disseminate information is a valuable strategic resource that any
organization can use to improve its competitive advantage. At the same time, technological advances are changing rapidly, thus requiring frequent
updates in hardware and software as well as new competencies for IS professionals. As strategic managers face the challenges of optimizing the use of
information systems, they are called to address a number of issues so they can make informed and effective ... Show more content on Helpwriting.net ...
Bank of America found that its attrition rate for retail customers that have two or more products with the bank averages only 1%. This compares to a
12.5% attrition rate for retail customers with only one product with the bank. Bank of America also pledged no further acquisitions and will focus its
efforts on execution as its recent acquisitions become fully integrated into the company. The bank also sees an opportunity to grow its non–U.S.
revenues, as it has only 13% of its revenues outside the United States. This is fairly low compared to many of its peers. In 2010, Citigroup had 44%
of its managed revenues from what the bank considers to be emerging markets. * Nature and management of IS and relevance of IS to business:
At Bank of America, you can access and interact with the comprehensive information and capabilities you need through your choice of channels,
including web, file and mobile. You can more efficiently manage multiple accounts, entities and bank relationships, with greater automation, on your
terms. From information reporting to file access and much more, discover the integrated, multichannel connectivity that 's designed to connect your
business across markets.
Electronic Bank Account Management (eBAM): Automate and standardize a variety of tasks–from opening, closing and maintenance of legal entities
and bank accounts, to adding

Bank Of America And Merrill Lynch: Business Combinations
Bank of America and Merrill Lynch
Business Combinations:
Dissolution of all but one of the separate legal entities is not necessary in order to have a business combination. A business combination is created
when a number of separate organizations are tied together through common control, or an acquirer obtains control over one or more businesses.
Statutory merger: any business combination in which only one of the companies remains as a "survivor" or "parent".
Statutory consolidation: a business combination in which two or more companies create a new separate entity. The original entities may or may not
dissolve in such combination.
Goodwill is an asset representing the future economic benefits arising in a business ... Show more content on Helpwriting.net ...
The increases were attributable to issuances and the addition of long term debt associated with the Merrill Lynch acquisition.
F. A statutory merger took place and Merrill Lynch ceased to exist as a separate entity. Merrill Lynch became the wealth management division ofBank
of America. Bank of America accounted for the acquisition in consolidated financial statements and accompanying notes.
G. Cost of merger: $29.1 billion. Cost allocations: Common stock acquired: $19.4 billion; preferred stock acquired $8.6 billion; fair value of
outstanding employee stock awards $1.1 billion. Bank of America recorded $5.4 billion of goodwill from the combination.
Total purchase price $29.1
Allocation of the purchase price:
Merrill Lynch stockholder's equity 19.9
Merrill Lynch goodwill and intangible assets(2.6)

Pretax adjustments to reflect acquired assets and liabilities fair value:
Securities (0.9)
Loans (5.0)
Intangible asset5.8
Other assets/ liabilities (4.8)
Long term debt 15.5 ____ Pretax total adjustments 10.6
Deferred income taxes (4.2) ____ After– tax total adjustments 6.4 Fair value of net assets acquired 23.7 ____ Good will resulting from Merrill Lynch

Bank of America is a worldwide banking and financial institution that serves over 35 countries, most commonly located on the Anglo and Latin
America clusters. Bank of America has close to 5000 banking location alone in the U.S. and locations in 7 countries of Latin America. "The bank's core
services include consumer and small business banking, corporate banking, credit cards, mortgage lending, and asset management. Its online banking
operation counts some 33 million active users and 20 million–plus mobile users" (Bank, 2017). The first Bank of America location within the U.S.
was in 1904 in San Francisco, California and opened its first Latin America location in Mexico City in 1951. These two clusters have a very diverse
culture and factors that affect the banking business in each location. In the U.S. the middle class makes up a majority of the population, while in Latin
America most consumers fall below the poverty line, which is a huge factor in the banking business. According to Restuccia's thoughts in the Latin
America development problem (2013), "economic performance in Latin America has often been viewed as the outcome of macroeconomic adjustment,
as many economies in the region have suffered numerous economic crises" (p 70). However, Bank of America strives to promote economic growth,
helping their employees succeed and create jobs, as well as become mobile and accommodating at every location worldwide.
The United States is made up of 3 social classes with the middle class being the majority of the population. The middle class is considered hard
working, educated with moderate and everyday spending. The U.S. has a constantly changing economy the reliant on consumer spending and
production rates, the work force and product pricing or inflation. When the economy is booming consumers are more apt to frivolous spending, which
means new cars, other loans and credit card use. Bank of America's success in the U.S. is based on this high consumer spending, more loans and
returns on investments. The consumers of America are accustomed to unnecessary spending on luxury items and services like eating out and going to
the movies. The U.S.'s higher spending and income provide are greater need for banking and

Bank of America Analysis Paper
Bank of America Corporation Analysis
Thomas L. Lowther III
MGT /521
May 16, 2011
Chuck Andre
Bank of America Corporation Analysis
Banking is an important industry that not only serves people on a personal level, but the United States in a global economy as well. First I will
conduct a SWOT analysis for the company I chose which is Bank of America Corporation. Second, I will also identify the company's internal and
external stakeholders. Next, I will describe their wants and needs. And, finally, I will explain how the company is fulfilling those needs.
Strengths
The Bank of America Corp dominates the market in the United States and also uses different strategies to gain a competitive advantage over it ... Show
their management processes, structures and policies help ensure compliance with laws and regulations and provide clear lines of sight for
decision–making and accountability ("Code of Ethics." 2011). These disciplines, though, together represent just one dimension of governance. The
other dimension is corporate culture of Bank of America Corporation ("Code of Ethics." 2011). Bank of America corporation culture must be
championed by leaders and sustained by every associate.
External Stockholders As Bank of America corporation work to serve our customers, clients and communities, and generate returns for our
shareholders, we understand that success is only meaningful when it is achieved the right way, with the right values. Their commitment to this
principle is the key to sustaining the public trust and confidence in their company, and the key to long term [success.
Wants and Needs
Bank of America deliver for their customer, clients, and shareholders the absolute best product and services they can. They share a passion for winning
and serving the financial needs of individuals, corporate clients, and institutional investors (Corporate Governance, 2011). We believe that disciplined
execution will lead to sustainable and long term performance. One way they build and

Bank Of America 's Financial Crisis
Bank of America in the 2008 Financial Crisis
– An Even Bigger Financial Giant Suffered Losses and Lawsuits from Risky Behavior
Summary of Bank of America in the Financial Crisis
As one of the largest banking holding companies, Bank of America has taken a significant role during the whole process of the financial crisis.
Compared with financial institutions whose business focused on specific fields, like investment banks or mortgage companies, Bank of Along got
involved in activities in various fields that directly related with crisis – deregulation from big banks lobbying, mortgage originating, mortgage
securitizing, and CDS dealing. Besides, as a systematically important financial institution, Bank of America was highly ... Show more content on
Helpwriting.net ...
Compared with its investment bank and hedge fund counterparties, Bank of America seemed stood away from the mortgage–CDO–CDS crisis
pipeline. In the contrary, not only had it worked on deregulation for decades; it was also an active player in the financial system, which contributed to
the burst of crisis.
The largest banks, including Bank of America, removed most barriers limiting their high–speed expansion, and the loose regulation and supervision had
exposed the whole financial system to higher risks. The largest banks became more powerful in a booming parallel banking system, and the fast
growing banks stressed the regulators to remove barriers against their growth and competition. (P52) As a result, Bank of America along with other
four largest banks owned 55%, jumping from 25%, assets of the industry, and the combined assets became more than tripled. (2) Additionally, the
bank added more leverage, which rose form 18:1 in 2000 to 27:1 in 2007 (60). With the barriers removed and less capital to absorb losses, Bank of
America was obviously vulnerable to huge and continual losses, which is a hint foreshadowing future struggle in the crisis.
In the financial crisis, Bank of America not only acted as a mortgage originator, a mortgage securitizer, but also interconnected with other major
important financial institutions to promote trading activities. Nevertheless, as the bank was too eager and greedy to make more profits,

Citigroup and Bank of America: Analysis
A) Citigroup and Bank of America, numbers eight and nine respectively on the Fortune 500 list, can be understood as a leader and laggard in
commercial banking.
Citigroup – Citigroup was formed in 1998, a culmination of ten separate businesses into a 146 billion dollar organization. In 1812, New York State
charters City Bank of New York, by 1894; City Bank had changed its name to National City Bank of New York and become the largest bank in the
United States. In 1919 City Bank becomes the first U.S. bank to accumulate 1 billion dollars in assets. In 1974 National City changes its name to
Citicorp to better suit its global businesses. By 1996 Citicorp was the again the largest banking institution in the United States and was the largest
issuer and servicer of credit cards in the world. In 1998 Citicorp and Travelers Group merged their talents to become Citigroup which in 2006 had over
89 billion dollars in revenues.
A company as large as Citigroup, with such a diverse business structure will have areas where risk is a factor that can stifle the development of the
business. Economic conditions can have a adverse affect on Citigroup's holdings, considering their holdings in fixed income, currency, commodity and
equity markets. The revenue generated from these portfolios is directly affected by economic conditions. These conditions also affect interest rates,
unemployment and consumer confidence, all of which are can affect the ability to create revenue.
Competition is also

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