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May 26, 2017

[Ans] Which bank went on to become the bank of America??


Step 1 : Introduction to the question "Which bank went on to become the bank of America?"



As of December 31, 2016, the company held 10.73% of all bank deposits in the United States. It is one of the Big Four banks in the United States, along with Citigroup, JPMorgan Chase and Wells Fargo—its main competitors. Bank of America operates—but does not necessarily maintain retail branches—in all 50 states of the United States, the District of Columbia and more than 40 other countries.



Step 2 : Answer to the question "Which bank went on to become the bank of America?"



The history of Bank of America dates back to October 17, 1904, when Amadeo Pietro Giannini founded the Bank of Italy in San Francisco. In 1922, Giannini established Bank of America and Italy. In 1928 Giannini merged his bank with Bank of America, Los Angeles. Bank of Italy was renamed on November 3, 1930 to Bank of America National Trust and Savings Association


Step 3 : Other interesting facts related to the question "Which bank went on to become the bank of America?"



Bank of America provides its products and services through 4,600 retail financial centers, approximately 15,900 automated teller machines. Bank of America has been the subject of many lawsuits and investigations regarding both mortgages and financial disclosures dating back to the financial crisis Branch banking was introduced by Giannini shortly after 1909 legislation in California

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