That happened because Bank of America started to find success outside of California right around the time the Federal government started to limit interstate banking transactions.Īs those limitations loosened, Bank of America expanded throughout the U.S. By 1953, Bank of America spun that business off into its own brand.
Instead of faltering, as most banks did during that time, the bank expanded its footprint by adding insurance options through the newly formed Transamerica Corporation.
That helped the bank push through the Great Depression. Giannini continued to follow his goal of serving everyday consumers and not just the super-wealthy.
However, the company still held the Bank of Italy name until 1930, when it was renamed Bank of America. The bank thrived, even after the great earthquake of 1906, when most other businesses disappeared from the damaged San Francisco landscape.īy 1927, Giannini consolidated his Bank of Italy with Liberty Bank of America and merged with Bank of America, Los Angeles in 1928 to form the largest banking institution in the U.S. Prior to this, banks were reserved only for the ultra-wealthy, but Giannini saw an opportunity to help the immigrants entering the country to access loans and capital to start their lives in America. Amadeo Giannini opened the first Bank of Italy in San Francisco in 1904 to serve its growing immigrant and working-class population. Ironically, Bank of America began its life known as the Bank of Italy. The current financial institution was built over more than 100 years through dozens of mergers and acquisitions that made it one of the largest banking businesses in the world. What is Bank of America?īank of America (BofA) did not just stumble onto 66 million customers. No matter what you want to accomplish financially, you can find a card that may offer low rates, competitive rewards, and perks for being a member of one of the largest banks in the world. Just like the bank’s broad and diverse customer base, Bank of America also offers a vast array of credit cards for different needs and goals. If you are one of the 66 million, or you are thinking of adding to that number by opening an account, we have the information you need.
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To see the full profiles for IJFE’s new editorial team, please click here.With more than 66 million customers currently being served, it’s no wonder why so many people look for the best Bank of America credit cards. Beckmann to further develop the Journal and its editorial processes to better serve its audience of academics, non-specialists, policy-makers and practitioners. We are very excited to be working with Prof. The Editor-in-Chief and the three Co-Editors all bring considerable breadth and depth of experience as scholars and leaders in international finance and management, accounting, macroeconomics, corporate finance, operations research and management science, and other related fields. Ioannis Kyriakou have accepted our offers to form the new editorial team of the International Journal of Finance & Economics, with Professor Keith Pilbeam leading the team as the new Editor-in-Chief. To see the full profiles for IJFE’s newly appointed Associate Editors, please click here. The IJFE is pleased to announce it is in the process of making appointments for Associate Editors.
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