Bank of America is not just the large red sign housing astronomical sums of money we walk or drive by every day. There much more astonishing facts you will want to know about Bank of America.
Number Fifteen: They Have More ATMs Around Than You Think!
Just when you thought you could ever find an ATM when you need one, think again. The popular bank has more than 18,000 ATMs across the United States.
Number Fourteen: Their Headquarters Aren’t in a Big City
You would think the headquarters of such a massive corporation would be in New York City or Washington D.C. On the contrary, the main headquarters of principal executive offices are located in Charlotte, NC.
Number Thirteen: It’s Infamous for Being Involved With the Largest Settlement in U.S Corporate History
In late 2013, the company was found liable for fraud in faulty loans, wherein the victims included homeowners, borrowers, and those with pension funds and municipalities. In 2014, Bank of America agreed to a near $17-billion settlement in what was the largest settlement in U.S. corporate history.
Number Twelve: The Bank Has an Ongoing Tax Issue
The company did not only choose not to pay federal taxes for 2010 or 2009 by making use of its posted pre-tax loss of $5.4 billion, but the bank also cited a tax benefit of $1 billion the following year. It’s true!
Number Eleven: Bank of America Is Even Larger Than You Think
Along with Bank of America being the 21st largest company in the United States and the second-largest bank in the U.S., it also tops the charts worldwide. According to Forbes, this bank is the third-largest company in the world.
Number Ten: It Has Merrill Lynch to Thanks For Its Wealth
Bank of America holds the title for the world’s largest wealth management corporation. It was able to obtain this record after it acquired Merrill Lynch, which is now the wealth management division of Bank of America.
Number Nine: Can You Say Trillion?
Bank of America’s total current assets are almost unspeakably high. Try to imagine it, the bank’s total assets are over two trillion U.S. dollars. So you’ve learned there’s much more to know about Bank of America than meet’s eye. Stick around for part two of this article.