what type of company is bank of america
Bank of America Bank of America Corporation (abbreviated as BofA[4]) is a multinational banking and financial services corporation headquartered in Charlotte, North Carolina, United States. It is ranked 2nd on the list of largest banks in the United States by assets.[5] As of 2016, Bank of America was the 26th largest company in the United States by total revenue. In 2016, it was ranked #11 on the Forbes Magazine Global 2000 list of largest companies in the world.[6]
Bank of America The history of Bank of America dates back to October 17, 1904,[1] when Amadeo Pietro 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, providing services denied to them by the existing American banks which typically discriminated against them and often denied service to all but the wealthiest.[14] Giannini was raised by his mother and stepfather Lorenzo Scatena, as his father was fatally shot over a pay dispute with an employee.[15] 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.[16][17][18]