Bank of America

Term Paper # 117743

Business > Companies
Business > Finance, Investment and Banking

Bank of America

A look at Bank of America and its controversial business practices.

1,254 words () | 4 sources | APA | 2009 United States

Paper Summary:

This paper provides a brief history of Bank of America and outlines its structure and operations. The paper then looks at the criticisms of Bank of America's banking policies and customer service. The paper shows how, while Bank of America may be the largest bank in America and is fast moving into growing markets like Latin America and China, its reputation and business practices in the United States are questionable.

Outline:
History
Organization and Operation
Criticisms

From the Paper:

"Headquartered in North Carolina, Bank of America is the largest commercial bank in the United States of America and the third largest company in the world. According to the Bank of America 2006 annual report the company's net income was $13.9 billion, in 2004, $16.5 billion in 2005 and $21.1 billion. The present-day Bank of America was created in 1998 after a merger of NationsBank and San Francisco-based BankAmerica. The new entity was called Bank of America.
"The forerunner of the modern-day Bank of America was created in 1904 when Italian immigrant, Amadeo Gianini founded Bank of Italy in San Francisco. In the 1920s Gianini formed a partnership with Bank of America in Los Angeles. Leading to a new organization also called Bank of America. The company which later became known as BankAmerica was on the cutting edge of banking technology and was the first to roll out new products such as automatic check processing, magnetic ink character recognition and credit cards linked to a bank account, which later became known as bank cards. The BankAmeria card later became known as VISA cards."

Sample of Sources Used:

Bank of America. Retrieved April 18, 2007 from http://www.reference.com/search?q=Bank%20Of%20America
Bank of America and China Construction Bank to Collaborate on Credit Card Business. (2007, April 16). PR NewsWire. Bank of America. (2006) Building Opportunities: 2006 Annual Report.
BofA aims new credit card at illegal immigrants: report. (2007, February 13). Reuters.
E. Scott Reckard, David Streitfeld and Adrian G. Uribarri. (2007, February 14) Banking on illegal immigrants. The Los Angeles Times.