What are the assets of Bank of America?

What are the assets of Bank of America?

Total assets of Bank of America from 2009 to 2020 (in billion U.S. dollars)

Characteristic Total assets in billion U.S. dollars
2020 2,819.63
2019 2,434.08
2018 2,354.51
2017 2,281.23

What banks did Bank of America take over?

4. The bank has grown through several major acquisitions

  • Security Pacific, acquired in 1992.
  • Continental Illinois National Bank, acquired in 1994.
  • FleetBoston Financial, acquired in 2004.
  • MBNA, acquired in 2005.
  • U.S. Trust, acquired in 2006.
  • LaSalle Bank, acquired in 2007.
  • Countrywide Financial, acquired in 2008.

What did Bank of America do in 2008?

2008: In January, Bank of America buys Countrywide Financial Corp., a struggling mortgage lender whose value plummeted as its subprime lending practices came to light. In September, Bank of America announces it will purchase Merrill Lynch, a brokerage firm that suffered in the financial crisis, for $50 billion.

Why did Bank of America fail?

In these three years alone, Bank of America charged off $60 billion more than its normal $4-billion-a-year run-rate for bad credit card loans. In 2008, Bank of America compounded its problems by acquiring Countrywide Financial, the largest mortgage originator in America at the time.

Who did Bank of America sell my mortgage to?

Bank of America said on Monday that Nationstar was buying servicing rights on $215 billion of mortgages for $1.3 billion, and Walter Investment was buying servicing rights on $93 billion of mortgages for $519 million.

What is the strongest bank in the world?

Industrial & Commercial Bank of China Limited
Bank Rankings – Top Banks in the World

Current Rank Previous Rank BANK
1 1 Industrial & Commercial Bank of China Limited
2 2 China Construction Bank Corporation
3 3 Agricultural Bank of China Limited
4 4 Bank of China Limited

Why are Bank of America mortgage salespeople quitting?

The salespeople are leaving because they’re frustrated over a series of changes the bank made to its mortgage policies that have made it harder for some salespeople to make money and increased concerns about corporate surveillance, the people said.

Here are the 15 largest banks in the U.S. by assets, according to the latest numbers from the Federal Reserve….How We Make Money.

Rank Bank name Total assets
1 JPMorgan Chase & Co. $3.21 trillion
2 Bank of America Corp. $2.32 trillion
3 Wells Fargo & Co. $1.77 trillion

What is the asset size of Bank of America?

In 2020, the total assets of the bank of America amounted to approximately 2.82 trillion U.S. dollars.

What did Bank of America get in trouble for?

Bank of America exec arrested for bribery. A former New York-based Bank of America executive received tens of thousands of dollars at a time in cash bribes, federal prosecutors say, in exchange for fraudulently helping a New Jersey firm get a line of credit at the bank.

Who owns the most Bank of America stock?

Top 10 Owners of Bank of America Corp

Stockholder Stake Shares owned
Berkshire Hathaway, Inc. (Investm… 11.79% 1,010,100,606
The Vanguard Group, Inc. 6.87% 588,344,862
SSgA Funds Management, Inc. 3.91% 335,219,414
BlackRock Fund Advisors 3.73% 319,201,375

What are the total assets of Bank of America?

1 Bank Of America total assets for the quarter ending March 31, 2021 were $2,969.992B, a 13.36% increase year-over-year. 2 Bank Of America total assets for 2020 were $2819.627B, a 15.84% increase from 2019. 3 Bank Of America total assets for 2019 were $2434.079B, a 3.38% increase from 2018.

What was the biggest Bank of America acquisition?

One of BankAmerica’s most significant acquisitions was the 1983 purchase of Washington state bank Seafirst Corporation, which was the biggest U.S. interstate bank merger to date.

What was Bank of America accused of in 2013?

In particular, they were accused of having made risky mortgage loans and then misrepresented the quality of those loans to investors. In 2013 the U.S. government sued Bank of America for financial fraud, and the following year the company agreed to pay $16.65 billion.

When did Bank of America merge with NationsBank?

In 1998, Bank of America merged with NationsBank to create a coast-to-coast bank with assets of $572 billion. The company was now serving 30 million families in the United States and had operations in 38 different countries. New headquarters in North Carolina.