Bank of America Corporation (BOFA)

Overview

Bank of America Corporation, a global financial entity, provides a comprehensive array of banking and financial services to a diverse clientele that encompasses individual consumers, small and middle-market businesses, institutional investors, large corporations, and governmental bodies across the globe. With a heritage dating back to 1784, Bank of America has its headquarters situated in Charlotte, North Carolina. The corporation operates through several subsidiaries, each focused on catering to the unique needs of its broad customer base, thus positioning itself as a key player in the financial services industry worldwide.

Products and Services

Consumer Banking: This segment caters to the financial needs of individual consumers and small businesses. It offers a variety of products and services, including:

• Traditional and money market savings accounts, certificates of deposit, and Individual Retirement Accounts (IRAs).
• Noninterest- and interest-bearing checking accounts, and a range of investment accounts and products.
• Credit and debit cards, residential mortgages, home equity loans, and both direct and indirect lending services covering automotive, recreational vehicle, and consumer personal loans.

Global Wealth & Investment Management: Geared towards affluent, high-net-worth individuals, and institutional clients, this segment offers:

• Investment management, brokerage, banking, trust, and retirement products and services.
• Wealth management solutions, including specialty asset management services customized to meet the specific needs of clients.

Global Banking: Targeting businesses of varying scales, the Global Banking segment provides a wide range of products and services such as:

• Commercial loans and leases, commitment facilities, trade finance, as well as commercial real estate and asset-based lending.
• Treasury solutions, including treasury management, foreign exchange, short-term investing options, and merchant services.
• Working capital management solutions, and a spectrum of debt and equity underwriting and distribution, alongside merger-related and other advisory services.

Global Markets: This segment supports the corporation's offerings by providing:

• Market-making, financing, securities clearing, settlement, and custody services.
• Risk management products leveraging interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products.