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Bank of America Corporation (NYSE: BAC) is the largest bank holding company in the United States, by assets and caters to customers in over 150 countries all over the world. It is also the second largest bank by market capitalization and has banking relationship with 99% of the U.S. Fortune 500 companies and 83% of the Fortune Global 500. With the acquisition of Merrill Lynch in 2008, Bank of America became the world's largest wealth manager and a formidable name in the investment banking industry.
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Recent Stories: Federal regulators have sued Bank of America Corp (BofA) for having failed to disclose "staggering financial losses" at Merrill Lynch before taking the approval of the shareholders on the merger of these two companies. The lawsuit filed by the Securities and Exchange Commission in U.S. District Court in Manhattan sought an order requiring BofA to pay a civil penalty for not disclosing to the shareholders it was losing $15.3 billion in the fourth quarter of 2008.
