Bank of America Corporation

Bank of America Corporation is an American multinational banking and financial services corporation headquartered in Charlotte, North Carolina. It is the second-largest bank holding company in the United States by assets. Bank of America serves clients in more than 150 countries and has a relationship with 99% of the U.S.Fortune 500 companies and 83% of the Fortune Global 500. Sony VAIO PCG-3B1M Battery

The company is a member of the Federal Deposit Insurance Corporation (FDIC) and a component of both the S&P 500 Index and the Dow Jones Industrial Average.

As of 2010, Bank of America is the fifth-largest company in the United States by total revenue,^[10] as well as the third-largest non-oil company in the U.S. (after Walmart and General Electric). Sony VAIO PCG-3C1T Battery

In 2010, Forbes listed Bank of America as the 3rd biggest company in the world.^[11]

The bank's 2008 acquisition of Merrill Lynch made Bank of America the world's largest wealth management corporation and a major player in the investment banking market.^[12] Sony VAIO PCG-3D1M Battery

The company held 12.2% of all bank deposits in the United States as of August 2009,^[13] and is one of the Big Four banks in the United States, along with Citigroup, JPMorgan Chase and Wells Fargo—its main competitors.^[14][15] Bank of America operates in all 50 states of the U.S., the District of Columbia and more than 40 other countries. Sony VAIO PCG-3G2M Battery

It has a retail banking footprint that covers approximately 80 percent of the U.S. population and serves approximately 57 million consumer and small business relationships at 5,700 banking centers and 17,750ATMs.

The history of Bank of America dates back to 1904, Sony VAIO PCG-5R1M Battery

when Amadeo Giannini founded the Bank of Italy in San Francisco in an effort to cater to immigrants denied service by other banks.^[17] Giannini was raised by the Fava/Stanghellini family, as his father was shot while trying to collect on a $10.00 debt.When the 1906 San Francisco earthquake struck, Sony VAIO PCG-7141M Battery

Giannini was able to scavenge all deposits out of the bank building and away from the fires. Because San Francisco's banks were in smoldering ruins and unable to open their vaults, Giannini was able to use the rescued funds to commence lending within a few days of the disaster. Sony VAIO PCG-7143M Battery

From a makeshift desk consisting of a few planks over two barrels, he lent money to anyone who was willing to rebuild. Later in life, he took great pride in the fact that all of these loans were repaid.

In 1922, Giannini established Bank of America and Italy in Italy by buying Banca dell'Italia Meridionale, the latter established in 1918. Sony VAIO PCG-7151M Battery

On March 7, 1927, Giannini consolidated his Bank of Italy (101 branches) with the newly formed Liberty Bank of America (175 branches). The result was the Bank of Italy National Trust & Savings Association with capital of $30 billion, and resources of $115 billion. Sony VAIO PCG-7154M Battery

In 1928, A. P. Giannini merged with Bank of America, Los Angeles and consolidated it with his other bank holdings to create what would become the largest banking institution in the country. He renamed the Bank of Italy on November 3, 1930, calling it Bank of America. The resulting company was headed by Giannini with Orra E. Monnette serving as co-Chair. Sony VAIO PCG-7162M Battery

Giannini sought to build a national bank, expanding into most of the western states as well as into the insurance industry, under the aegis of his holding company, Transamerica Corporation. In 1953, regulators succeeded in forcing the separation of Transamerica Corporation and Bank of America under the Clayton Antitrust Act. Sony VAIO PCG-7181M Battery

The passage of the Bank Holding Company Act of 1956 prohibited banks from owning non-banking subsidiaries such as insurance companies. Bank of America and Transamerica were separated, with the latter company continuing in the insurance business.Sony VAIO PCG-41112M Battery

However, federal banking regulators prohibited Bank of America's interstate banking activity, and Bank of America's domestic banks outside California were forced into a separate company that eventually became First Interstate Bancorp, later acquired by Wells Fargo and Company in 1996. Sony VAIO PCG-7153M Battery

It was not until the 1980s with a change in federal banking legislation and regulation that Bank of America was again able to expand its domestic consumer banking activity outside California.

New technologies also allowed credit cards to be linked directly to individual bank accounts. Sony VAIO PCG-71312M Battery

In 1958, the bank introduced the BankAmericard, which changed its name to Visa in 1975.^[20] A consortium of other California banks introduced Master Charge (now MasterCard) to compete with BankAmericard.

Following the passage of the Bank Holding Company Act of 1956, Sony VAIO PCG-7144M Battery

BankAmerica Corporation was established for the purpose of owning and operation of Bank of America and its subsidiaries.

BankAmerica expanded outside California in 1983 with its acquisition of Seafirst Corporation of Seattle, Sony VAIO PCG-7191L Battery

Washington, as well as its wholly owned banking subsidiary, Seattle-First National Bank. Seafirst was at risk of seizure by the federal government after becoming insolvent due to a series of bad loans to theoil industry. BankAmerica continued to operate its new subsidiary as Seafirst rather than Bank of America until the 1998 merger with NationsBank. Sony VAIO PCG-3C1M Battery

BankAmerica experienced huge losses in 1986 and 1987 by the placement of a series of bad loans in the Third World, particularly in Latin America. The company fired its CEO, Sam Armacost. Though Armacost blamed the problems on his predecessor, A.W. (Tom) Clausen, Clausen was appointed to replace Armacost. Sony VAIO PCG-3F1M Battery

The losses resulted in a huge decline of BankAmerica stock, making it vulnerable to a hostile takeover. First Interstate Bancorp of Los Angeles (which had originated from banks once owned by BankAmerica), launched such a bid in the fall of 1986, although BankAmerica rebuffed it, mostly by selling operations. Sony VAIO PCG-3H1M Battery

It sold its FinanceAmerica subsidiary to Chrysler and the brokerage firm Charles Schwab and Co. back to Mr. Schwab. It also sold Bank of America and Italy to Deutsche Bank. By the time of the 1987 stock market crash, BankAmerica's share price had fallen to $8, but by 1992 it had rebounded mightily to become one of the biggest gainers of that half-decade. Sony VAIO PCG-3J1M Battery

BankAmerica's next big acquisition came in 1992. The company acquired its California rival, Security Pacific Corporation and its subsidiary Security Pacific National Bank in California and other banks in Arizona, Idaho, Oregon, and Washington (which Security Pacific had acquired in a series of acquisitions in the late 1980s). Sony VAIO PCG-8141M Battery

This was, at the time, the largest bank acquisition in history. Federal regulators, however, forced the sale of roughly half of Security Pacific's Washington subsidiary, the former Rainier Bank, as the combination of Seafirst and Security Pacific Washington would have given BankAmerica too large a share of the market in that state. Sony VAIO PCG-8161M Battery

The Washington branches were divided and sold off to West One Bancorp (now U.S. Bancorp) and KeyBank.^[21] Later that year, BankAmerica expanded into Nevada by acquiring Valley Bank of Nevada.

In 1994, BankAmerica acquired the Continental Illinois National Bank and Trust Co. of Chicago, Sony VAIO PCG-3C2M Battery

which had become federally owned as part of the same oil industry debacle emanating from Oklahoma City's Penn Square Bank, that had brought down numerous financial institutions including Seafirst. At the time, no bank possessed the resources to bail out Continental, so the federal government operated the bank for nearly a decade. Sony VAIO PCG-5N2M Battery

Illinois at that time regulated branch banking extremely heavily, so Bank of America Illinois was a single-unit bank until the 21st century. BankAmerica moved its national lending department to Chicago in an effort to establish a financial beachhead in the region. Sony VAIO PCG-5P1M Battery

These mergers helped BankAmerica Corporation to once again become the largest U.S. bank holding company in terms of deposits, but the company fell to second place in 1997 behind fast-growing NationsBank Corporation, and to third in 1998 behind North Carolina's First Union Corp. Sony VAIO PCG-5S1M Battery

On the capital markets side, the acquisition of Continental Illinois helped BankAmerica to build a leveraged finance origination and distribution business (Continental Illinois had extensive leveraged lending relationships) which allowed the firm’s existing broker-dealer, Sony VAIO PCG-9Z1M Battery

BancAmerica Securities (originally named BA Securities), to become a full-service franchise.^[22][23] In addition, in 1997, BankAmerica acquired Robertson Stephens, a San Francisco-based investment bank specializing in high technology for $540 million. Sony VAIO PCG-7171M Battery

Robertson Stephens was integrated into BancAmerica Securities and the combined subsidiary was renamed BancAmerica Robertson Stephens.^[24]

In 1997, BankAmerica lent D. E. Shaw & Co., a large hedge fund, $1.4 billion in order to run various businesses for the bank. Sony VAIO PCG-7186M Battery

However, D.E. Shaw suffered significant loss after the 1998 Russia bond default. BankAmerica was acquired by NationsBank of Charlotte in October 1998 in what was the largest bank acquisition in history at that time.

While NationsBank was the nominal survivor, the merged bank took the name Bank of America Corporation, Sony VAIO PCG-81112M Battery

with Bank of America NT&SA changing its name to Bank of America, N.A. as the remaining legal bank entity. The combined bank still operates under Federal Charter 13044, which was granted to Giannini's Bank of Italy on March 1, 1927. However, SEC filings before 1998 are listed under NationsBank, not BankAmerica. Sony VAIO PCG-31311M Battery

Bank of America possessed combined assets of $570 billion, as well as 4,800 branches in 22 states. Despite the mammoth size of the two companies, federal regulators insisted only upon the divestiture of 13 branches in New Mexico, in towns that would be left with only a single bank following the combination. Sony VAIO PCG-8152M Battery

(Branch divestitures are only required if the combined company will have a larger than 25% FDIC deposit market share in a particular state or 10% deposit market share overall.) In addition, the combined broker-dealer, created from the integration of BancAmerica Robertson Stephens and NationsBanc Montgomery Securities, was renamed Banc of America Securities in 1998.Sony VAIO PCG-31111M Battery

In 2001, Bank of America CEO and chairman Hugh McColl stepped down and named Ken Lewis as his successor.

In 2004, Bank of America announced it would purchase Boston-based bank FleetBoston Financial for $47 billion in cash and stock.Sony VAIO PCG-61111M Battery

By merging with Bank of America, all of its banks and branches were given the Bank of America logo. At the time of merger, FleetBoston was the seventh largest bank in United States with $197 billion in assets, over 20 million customers and revenue of $12 billion. Sony VAIO PCG-51112M Battery

Hundreds of FleetBoston workers lost their jobs or were demoted, according to the Boston Globe.

On June 30, 2005, Bank of America announced it would purchase credit card giant MBNA for $35 billion in cash and stock. Sony VAIO PCG-51211M Battery

TheFederal Reserve Board gave final approval to the merger on December 15, 2005, and the merger closed on January 1, 2006. The acquisition of MBNA provided Bank of America a leading domestic and foreign credit card issuer . The combined Bank of America Card Services organization, including the former MBNA, Sony VAIO PCG-51212M Battery

had more than 40 million U.S. accounts and nearly $140 billion in outstanding balances. Under Bank of America the operation was renamed FIA Card Services.

In May 2006, Bank of America and Banco Itaú (Investimentos Itaú S.A.) Sony VAIO PCG-41111M Battery

entered into an acquisition agreement through which Itaú agreed to acquire BankBoston's operations in Brazil and was granted an exclusive right to purchase Bank of America's operations in Chile and Uruguay. A deal was signed in August 2006 under which Itaú agreed to purchase Bank of America's operations in Chile and Uruguay. Sony VAIO PCG-41111V Battery

Prior to the transaction, BankBoston's Brazilian operations included asset management, private banking, a credit card portfolio, and small, middle-market, and large corporate segments. It had 66 branches and 203,000 clients in Brazil. BankBoston in Chile had 44 branches and 58,000 clients and in Uruguay it had 15 branches. Sony VAIO PCG-61412V Battery

In addition, there was a credit card company, OCA, in Uruguay, which had 23 branches. BankBoston N.A. in Uruguay, together with OCA, jointly served 372,000 clients. While the BankBoston name and trademarks were not part of the transaction, as part of the sale agreement, Sony VAIO PCG-71112M Battery

they cannot be used by Bank of America in Brazil, Chile or Uruguay following the transactions. Hence, the BankBoston name has disappeared from Brazil, Chile and Uruguay. The Itaú stock received by Bank of America in the transactions has allowed Bank of America's stake in Itaú to reach 11.51%. Banco de Boston de Brazil had been founded in 1947. Sony VAIO PCG-81111V Battery

On November 20, 2006, Bank of America announced the purchase of The United States Trust Company for $3.3 billion, from the Charles Schwab Corporation. US Trust had about $100 billion of assets under management and over 150 years of experience. The deal closed July 1, 2007. Sony VAIO PCG-81111V Battery

On September 14, 2007, Bank of America won approval from the Federal Reserve to acquire LaSalle Bank Corporation from Netherlands's ABN AMRO for $21 billion. With this purchase, Bank of America possessed 1.7 trillion in assets. A Dutch court blocked the sale until it was later approved in July. Sony VAIO PCG-81212M Battery

The acquisition was completed on October 1, 2007. Many of LaSalle's branches and offices had already taken over smaller regional banks within the previous decade, such as Lansing and Detroit based Michigan National Bank.

The deal increased Bank of America's presence in Illinois, Michigan, Sony VAIO PCG-81212V Battery

and Indiana by 411 branches, 17,000 commercial bank clients, 1.4 million retail customers, and 1,500 ATMs. Bank of America became the largest bank in the Chicago market with 197 offices and 14% of the deposit share, surpassing JPMorgan Chase.

LaSalle Bank and LaSalle Bank Midwest branches adopted the Bank of America name on May 5, 2008.^[28] Sony VAIO PCG-51111M Battery

Ken Lewis, who had lost the title of Chairman of the Board, announced that he would retire as CEO effective December 31, 2009, in part due to controversy and legal investigations concerning the purchase of Merrill Lynch. Brian Moynihan became President and CEO effective January 1, 2010, Sony VAIO VPCS13X9E/B battery

and afterward credit card charge offs and delinquencies declined in January. Bank of America also repaid the $45 billion it had received from the Troubled Assets Relief Program.^[29][30]

On August 23, 2007, the company announced a $2 billion repurchase agreement for Countrywide Financial. Sony VAIO VPCS12V9E/B battery

This purchase of preferred stock was arranged to provide a return on investment of 7.25% per annum and provided the option to purchase common stock at a price of $18 per share.^[31]

On January 11, 2008, Bank of America announced they would buy Countrywide Financial for $4.1 billion. Sony VAIO VPCS12V9E/B battery

In March 2008, it was reported that the FBI was investigating Countrywide for possible fraud relating to home loans and mortgages.This news did not hinder the acquisition, which was completed in July 2008,^[34] giving the bank a substantial market share of the mortgage business, and access to Countrywide's resources for servicing mortgages. Sony VAIO VPCF13M8E/B battery

The acquisition was seen as preventing a potential bankruptcy for Countrywide. Countrywide, however, denied that it was close to bankruptcy. Countrywide provided mortgage servicing for nine million mortgages valued at $1.4 trillion as of December 31, 2007.^[36]

This purchase made Bank of America Corporation the leading mortgage originator and servicer in the U.S., controlling 20–25% of the home loan market. Sony VAIO VPCF13Z0E/B battery

The deal was structured to merge Countrywide with the Red Oak Merger Corporation, which Bank of America created as an independent subsidiary. It has been suggested that the deal was structured this way to prevent a potential bankruptcy stemming from large losses in Countrywide hurting the parent organization by keeping Countrywide bankruptcy remote.^[38] Sony VAIO VPCM13M1E/L battery

Countrywide Financial has changed its name to Bank of America Home Loans.

In December 2011, The Justice Department announced a $335 million settlement with Bank of America over discriminatory lending practice at Countrywide Financial. Sony VAIO VPCM13M1E/W battery

Attorney General Eric Holder said a federal probe found discrimination against qualified African-American and Latino borrowers from 2004 to 2008. He said that minority borrowers who qualified for prime loans were steered into higher-interest-rate subprime loans.^[39] Sony VAIO VPCF22M1E battery

On September 14, 2008, Bank of America announced its intentions to purchase Merrill Lynch & Co., Inc. in an all-stock deal worth approximately $50 billion. Merrill Lynch was at the time within days of collapse, and the acquisition effectively saved Merrill from bankruptcy.^[40] Sony VAIO VPCF11M1E/H battery

Around the same time Bank of America was reportedly also in talks to purchase Lehman Brothers, however a lack of government guarantees caused the bank to abandon talks with Lehman.^[41] Lehman Brothers filed for bankruptcy the same day Bank of America announced its plans to acquire Merrill Lynch.^[42] Sony VAIO VPCF13M0E/B battery

This acquisition made Bank of America the largestfinancial services company in the world.^[43] Temasek Holdings, the largest shareholder of Merrill Lynch & Co., Inc., briefly became one of the largest shareholders of Bank of America,^[44] with a 3% stake.Sony VAIO VPCYB2M1E battery

However, taking a loss Reuters estimated at $3 billion, the Singapore sovereign wealth fund sold its whole stake in Bank of America in the first quarter of 2009.^[45]

Shareholders of both companies approved the acquisition on December 5, 2008, and the deal closed January 1, 2009.^[46] Sony VAIO VPCYB3V1E battery

Bank of America had planned to retain various members of the then Merrill Lynch's CEO, John Thain's management team after the merger.^[47] However, after Thain was removed from his position, most of his allies left. The departure of Nelson Chai, who had been named Asia-Pacific president, Sony VAIO VPCY11M1E battery

left just one of Thain's hires in place: Tom Montag, head of sales and trading.^[48]

The Bank, in its January 16, 2009 earnings release, revealed massive losses at Merrill Lynch in the fourth quarter, which necessitated an infusion of money that had previously been negotiated^[49Sony VAIO VPCS12L9E/B battery

^] with the government as part of the government-persuaded deal for the Bank to acquire Merrill. Merrill recorded an operating loss of $21.5 billion in the quarter, mainly in its sales and trading operations, led by Tom Montag. The Bank also disclosed it tried to abandon the deal in December after the extent of Merrill's trading losses surfaced, Sony VAIO VPCF11S1E/B battery

but was compelled to complete the merger by the U.S. government. The Bank's stock price sank to $7.18, its lowest level in 17 years, after announcing earnings and the Merrill mishap. The market capitalization of Bank of America, including Merrill Lynch, was then $45 billion, Sony VAIO VPCYB3V1E/R Battery

less than the $50 billion it offered for Merrill just four months earlier, and down $108 billion from the merger announcement.

Bank of America CEO Kenneth Lewis testified before Congress^[12] that he had some misgivings about the acquisition of Merrill Lynch, and that federal officials Sony VAIO VPCF23P1E Battery

pressured him to proceed with the deal or face losing his job and endangering the bank's relationship with federal regulators.^[50]

Lewis' statement is backed up by internal emails subpoenaed by Republican lawmakers on the House Oversight Committee.^[51] Sony VAIO VPCF23N1E Battery

In one of the emails, Richmond Federal Reserve President Jeffrey Lacker threatened that if the acquisition did not go through, and later Bank of America were forced to request federal assistance, the management of Bank of America would be "gone". Other emails, read by Congressman Dennis Kucinich during the course of Lewis' testimony, Sony VAIO VPCY21S1E/L Battery

state that Mr. Lewis had foreseen the outrage from his shareholders that the purchase of Merrill would cause, and asked government regulators to issue a letter stating that the government had ordered him to complete the deal to acquire Merrill. Lewis, for his part, states he didn't recall requesting such a letter. Sony VAIO VPCY21S1E/G battery

The acquisition made Bank of America the number one underwriter of global high-yield debt, the third largest underwriter of global equity and the ninth largest adviser on global mergers and acquisitions.^[52] As the credit crisis eased, losses at Merrill Lynch subsided, Sony VAIO VPCF24M1E battery

and the subsidiary generated 3.7 billion of Bank of America's 4.2 billion in profit by the end of quarter one in 2009, and over 25% in quarter 3 2009.^[53][54]

Bank of America received $20 billion in the federal bailout from the U.S. government through the Troubled Asset Relief Program (TARP) on January 16, 2009, HP Voodoo Envy 133 NV4010NA Battery

along with a guarantee of $118 billion in potential losses at the company.^[55] This was in addition to the $25 billion given to them in the Fall of 2008 through TARP. The additional payment was part of a deal with the U.S. government to preserve Bank of America's merger with the troubled investment firm Merrill Lynch. HP Voodoo Envy 133 NV4015NA Battery

Since then, members of the U.S. Congress have expressed considerable concern about how this money has been spent, especially since some of the recipients have been accused of misusing the bailout money.^[57] Then CEO Ken Lewis was quoted as claiming "We are still lending, and we are lending far more because of the TARP program. HP Voodoo Envy 133 NV4020NA Battery

" Members of the U.S. House of Representatives, however, were skeptical and quoted many anecdotes about loan applicants (particularly small business owners) being denied loans and credit card holders facing stiffer terms on the debt in their card accounts. HP Voodoo Envy 133 NV4040NA Battery

According to a March 15, 2009, article in The New York Times, Bank of America received an additional $5.2 billion in government bailout money, channeled throughAmerican International Group.^[58]

As a result of its federal bailout and management problems, HP Voodoo Envy 133 NV4042NA Battery

The Wall Street Journal reported that the Bank of America was operating under a secret "memorandum of understanding" (MOU) from the U.S. government that requires it to "overhaul its board and address perceived problems with risk and liquidity management". HP Voodoo Envy 133 NV4045NA Battery

With the federal action, the institution has taken several steps, including arranging for six of its directors to resign and forming a Regulatory Impact Office. Bank of America faces several deadlines in July and August and if not met, could face harsher penalties by federal regulators. Bank of America did not respond to The Wall Street Journal story.^[59] HP Voodoo Envy 133 NV4050NA Battery

On December 2, 2009, Bank of America announced it would repay the entire $45 billion it received in TARP and exit the program, using $26.2 billion of excess liquidity along with $18.6 billion to be gained in "common equivalent securities" (Tier 1 capital). The bank announced it had completed the repayment on December 9. HP Voodoo Envy 133 NV4065NA Battery

Bank of America's Ken Lewis said during the announcement, "We appreciate the critical role that the U.S. government played last fall in helping to stabilize financial markets, and we are pleased to be able to fully repay the investment, with interest... As America's largest bank, HP Voodoo Envy 133 NV4070NA Battery

we have a responsibility to make good on the taxpayers' investment, and our record shows that we have been able to fulfill that commitment while continuing to lend."

On August 3, 2009, Bank of America agreed to pay a $33 million fine, without admission or denial of charges, to the U.S. HP Voodoo Envy 133 NV4075NA Battery

Securities and Exchange Commission(SEC) over the non-disclosure of an agreement to pay up to $5.8 billion of bonuses at Merrill. The bank approved the bonuses before the merger but did not disclose them to its shareholders when the shareholders were considering approving the Merrill acquisition, in December 2008. HP Voodoo Envy 133 NV4080NA Battery

The issue was originally investigated by New York State Attorney General Andrew Cuomo, who commented after the suit and announced settlement that "the timing of the bonuses, as well as the disclosures relating to them, constituted a 'surprising fit of corporate irresponsibility'" and "our investigation of these and other matters pursuant to New York's Martin Act will continue."HP Envy 17 Notebook PC Battery

Congressman Kucinich commented at the same time that "This may not be the last fine that Bank of America pays for how it handled its merger of Merrill Lynch."^[62] A federal judge, Jed Rakoff, in an unusual action, refused to approve the settlement on August 5.^[63] A first hearing before the judge on August 10 was at times heated, and he was "sharply critic[al]" HP Envy 17-1000 Battery

of the bonuses. David Rosenfeld represented the SEC, and Lewis J. Liman, son of Arthur L. Liman, represented the bank. The actual amount of bonuses paid was $3.6 billion, of which $850 million was "guaranteed" and the rest was shared amongst 39,000 workers who received average payments of $91,000; 696 people received more than $1 million in bonuses; HP Envy 17-1001TX Battery

at least one person received a more than $33 million bonus.^[64]

On September 14, the judge rejected the settlement and told the parties to prepare for trial to begin no later than February 1, 2010. The judge focused much of his criticism on the fact that the fine in the case would be paid by the bank's shareholders, HP Envy 17-1001XX Battery

who were the ones that were supposed to have been injured by the lack of disclosure. He wrote, "It is quite something else for the very management that is accused of having lied to its shareholders to determine how much of those victims’ money should be used to make the case against the management go away," HP Envy 17-1002TX Battery

... "The proposed settlement," the judge continued, "suggests a rather cynical relationship between the parties: the S.E.C. gets to claim that it is exposing wrongdoing on the part of the Bank of America in a high-profile merger; the bank's management gets to claim that they have been coerced into an onerous settlement by overzealous regulators. HP Envy 17-1003XX Battery

And all this is done at the expense, not only of the shareholders, but also of the truth."^[65]

While ultimately deferring to the SEC, in February, 2010, Judge Rakoff approved a revised settlement with a $150 million fine "reluctantly", calling the accord "half-baked justice at best" and "inadequate and misguided". HP Envy 17-1006TX Battery

Addressing one of the concerns he raised in September, the fine will be "distributed only to Bank of America shareholders harmed by the non-disclosures, or 'legacy shareholders', an improvement on the prior $33 million while still "paltry", according to the judge. Case: SEC v. Bank of America Corp., 09-cv-06829, HP Envy 17T Battery

United States District Court for the Southern District of New York.^[66]

Investigations also were held on this issue in the United States House Committee on Oversight and Government Reform,^[65] under chairman Edolphus Towns (D-NY)^[67]and in its investigative Domestic Policy Subcommittee under Kucinich.^[68] HP Envy 17T-1000 Battery

In 2010, the bank was accused by the U.S. government of defrauding schools, hospitals, and dozens of state and local government organizations via misconduct and illegal activities involving the investment of proceeds from municipal bond sales. As a result, the bank agreed to pay $137.7 million, HP Pavilion DM4 Battery

including $25 million to the Internal Revenue service and $4.5 million to state attorney general, to the affected organizations to settle the allegations.^[69]

Former bank official Douglas Campbell pleaded guilty to antitrust, conspiracy and wire fraud charges. HP Pavilion DM4-1000 Battery

As of January 2011, other bankers and brokers are under indictment or investigation.^[70]

During 2011, Bank of America began conducting personnel reductions of an estimated 36,000 people, contributing to intended savings of $5 billion per year by 2014.^[71]

In December 2011, Forbes ranked Bank of America's financial health 91st out of the nations largest 100 banks and thrift institutions.^[72] HP Pavilion DM4-1001TU Battery

Bank of America generates 90% of its revenues in its domestic market and continues to buy businesses in the U.S. The core of Bank of America's strategy is to be the number one bank in its domestic market. It has achieved this through key acquisitions.^[73]

Consumer Banking is the largest division in the company, and provides financial services to consumers and small businesses. HP Pavilion DM4-1001TX Battery

The acquisition of FleetBoston and MBNA significantly expanded its size and range of services, resulting in about 51% of the company's total revenue in 2005. It competes primarily with the retail banking arms of America's three other megabanks:Citigroup, JPMorgan Chase, and Wells Fargo. HP Pavilion DM4-1002TX Battery

The Consumer Banking organization includes over 5,800 retail branches and over 18,000 ATMs across the United States.

Bank of America is a member of the Global ATM Alliance, a joint venture of several major international banks that allows customers of the banks to use their HP Pavilion DM4-1004TU Battery

ATM card or check card at another bank within the Global ATM Alliance without access fees when traveling internationally. Other participating banks are Barclays (United Kingdom), BNP Paribas (France), Ukrsibbank(Ukraine), China Construction Bank (China), Deutsche Bank (Germany), Santander Serfin (Mexico), HP Pavilion DM4-1006TX Battery

Scotiabank (Canada) andWestpac (Australia and New Zealand).^[74] This feature is restricted to withdrawals using a debit card, though credit card withdrawals are still subject to cash advance fees and foreign currency conversion fees. Additionally, some foreign ATMs useSmart Card technology and may not accept non-Smart Cards. HP Pavilion DM4-1008TX Battery

Bank of America offers banking and brokerage products as a result of the acquisition of Merrill Lynch. Savings programs such as "Add it Up"^[75] and "Keep the Change" have been well received and are a reflection of the product development banks have taken during the 2008 recession. HP Pavilion DM4-1009TX Battery

Bank of America, N.A is a nationally chartered bank, regulated by the Office of the Comptroller of the Currency, Department of the Treasury.

Before Bank of America's acquisition of Merrill Lynch, the Global Corporate and Investment Banking (GCIB) business operated as Banc of America Securities LLC. HP Pavilion DM4-1010TX Battery

The bank's investment banking activities operate under the Merrill Lynch subsidiary and provided mergers and acquisitions advisory, underwriting, capital markets, as well as sales & trading in fixed income and equities markets. Its strongest groups include Leveraged Finance, Syndicated Loans, and mortgage-backed securities. HP Pavilion DM4-1011TX Battery

It also has one of the largest research teams on Wall Street. Bank of America Merrill Lynch is headquartered in New York City.

Global Wealth and Investment Management manages assets of institutions and individuals. It is among the 10 largest U.S. wealth managers (ranked by private banking assets under management in accounts of $1 million or more as of June 30, 2005). HP Pavilion DM4-1012TX Battery

In July 2006, Chairman Ken Lewis announced that GWIM's total assets under management exceeded $500 billion. GWIM has five primary lines of business: Premier Banking & Investments (including Bank of America Investment Services, Inc.), The Private Bank, Family Wealth Advisors, and Bank of America Specialist. HP Pavilion DM4-1013TX Battery

Bank of America has recently spent $675 million building its U.S. investment banking business and is looking to become one of the top five investment banks worldwide. "Bank of America already has excellent relationships with the corporate and financial institutions world. HP Pavilion DM4-1014TX Battery

Its clients include 98% of the Fortune 500 companies in the U.S. and 79% of the Global Fortune 500. These relationships, as well as a balance sheet that most banks would kill for, are the foundations for a lofty ambition."^[76]

Bank of America has a new headquarters for its New York City operations. HP Pavilion DM4-1016TX Battery

The skyscaper is located on 42nd Street and Avenue of the Americas, at Bryant Park, and features state-of-the-art, environmentally friendly technology throughout its 2.1 million square feet (195,096 m²) of office space. The building is the headquarters for the company's investment banking division, and also hosts most of Bank of America's New York-based staff. HP Pavilion DM4-1017TX Battery

An April 21, 2012 article by the New York Times named the Bank of America as a corporate member of the American Legislative Exchange Council.^[77]

In 2005, Bank of America acquired a 9% stake in China Construction Bank, one of the Big Four banks in China, for $3 billion.^[78]HP Pavilion DM4-1019TX Battery

It represented the company's largest foray into China's growing banking sector. Bank of America currently has offices in Hong Kong, Shanghai, and Guangzhou and was looking to greatly expand its Chinese business as a result of this deal. In 2008, Bank of America was awarded Project Finance Deal of the Year at the 2008 ALB Hong Kong Law Awards. HP Pavilion DM4-1030EZ Battery

In November 2011, Bank of America announced plans to divest most of its stake in the China Construction Bank.^[80]

Bank of America operated under the name BankBoston in many other Latin American countries, including Brazil. HP Pavilion DM4-1065DX Battery

In 2006, Bank of America sold BankBoston's operations to Brazilian bank Banco Itaú, in exchange for Itaú shares. The BankBoston name and trademarks were not part of the transaction and, as part of the sale agreement, cannot be used by Bank of America. ( exhausting the BankBoston brand.) HP Pavilion DM4-1090LA Battery

Bank of America's Global Corporate and Investment Banking spans the Globe with divisions in United States, Europe, and Asia. The U.S. headquarters are located in New York, European headquarters are based in London, and Asian headquarters are based in Hong Kong. HP Pavilion DM4T Battery

Jonathan Finger, whose Houston-based family owns more than 1 million shares of stock and has pressed for boardroom changes.

IPIC Group Ltd., a private Delaware-based investment firm, is seeking to become Bank of America's largest institutional shareholder. HP Pavilion DM4T-1000 Battery

Warren Buffett, in August 2011, agreed to invest $5 billion through Berkshire Hathaway for 50,000 preferred shares along with warrants to purchase up to 700,000,000 shares at US$7.14 though August 2021.^[91] The bank has the option to buy back the shares for a 5 percent premium. HP Pavilion DM3-1040EG Battery

In addition to its new eco-friendly office tower in Manhattan, Bank of America has pledged to spend billions on commercial lending and investment banking for projects that it considers "green". The corporation supplied all of its employees with cash incentives to buy hybrid vehicles, HP Pavilion DM3-1040EI Battery

and began providing mortgage loan breaks for customers whose homes qualified as energy efficient.^[93] In 2007, Bank of America partnered with Brighter Planet to offer an eco-friendly credit card, and later a debit card, which help build renewable energy projects with each purchase.^[94] HP Pavilion DM3-1040EK Battery

The corporation recently completed the new 1 Bank of America Center in Uptown Charlotte. The tower, and accompanying hotel, will be a LEED-certified building.

Bank of America has also donated money to help health centers in Massachusetts^[95] and made donations to help homeless shelters in Miami.^[96] HP Pavilion DM3-1040EO Battery

In 2004, the bank pledged $750 billion over a ten-year period for community development lending and investment. The company had delivered more than $230 billion against a ten-year commitment of $350 billion made in 1998 to provide affordable mortgage, build affordable housing, support small business and create jobs in disadvantaged neighborhoods. HP Pavilion DM3-1040EV Battery

Bank of America was sued for $10 billion by American International Group Inc. in August 2011. Another lawsuit filed September 2011 concerns a total of $57.5 billion in mortgage-backed securities Bank of America sold to Fannie Mae and Freddie Mac.^[97]

Parmalat SpA is a multinational Italian dairy and food corporation. HP Pavilion DM3-1040EZ Battery

Following Parmalat's 2003 bankruptcy, the company sued Bank of America for $10 billion, alleging the bank profited from its knowledge of Parmalat's financial difficulties. The parties announced a settlement in July 2009, resulting in Bank of America paying Parmalat $98.5 million in October 2009. HP Pavilion DM3-1040US Battery

In a related case, on April 18, 2011, an Italian court acquitted Bank of America and three other large banks, along with their employees, of charges they assisted Parmalat in concealing its fraud, and of lacking sufficient internal controls to prevent such frauds. Prosecutors did not immediately say whether they would appeal the rulings. HP Pavilion DM3-1044NR Battery

In Parma, the banks were still charged with covering up the fraud.^[100]

In January 2008, Bank of America began notifying some customers without payment problems that their interest rates were more than doubled, up to 28%. The bank was criticized for raising rates on customers in good standing, and for declining to explain why it had done so. HP Pavilion DM3-1047CL Battery

In September 2009, a Bank of America credit card customer, Ann Minch, posted a video on YouTube criticizing the bank for raising her interest rate. After the video went viral, she was contacted by a Bank of America representative who lowered her rate. The story attracted national attention from television and internet commentators. HP Pavilion DM3-1047NR Battery

More recently, the bank has been criticized for allegedly seizing three properties that were not under their ownership, apparently due to incorrect addresses on their legal documents.^[106]

In October 2009, WikiLeaks representative Julian Assange reported that his organization possessed a 5 gigabyte hard drive formerly used by a Bank of America executive and that Wikileaks intended to publish its contents. HP Pavilion DM3-1048LA Battery

In November 2010, Forbes published an interview with Assange in which he stated his intent to publish information which would turn a major U.S. bank "inside out".^[108] In response to this announcement, Bank of America stock dropped 3.2%.^[109]

In December 2010, Bank of America announced that it would no longer service requests to transfer funds to WikiLeaks, HP Pavilion DM3-1050EE Battery

stating that "Bank of America joins in the actions previously announced by MasterCard, PayPal, Visa Europe and others and will not process transactions of any type that we have reason to believe are intended for WikiLeaks… This decision is based upon our reasonable belief that WikiLeaks may be engaged in activities that are, among other things, inconsistent with our internal policies for processing payments."^[111] HP Pavilion DM3-1050EN Battery

In late December it was announced that Bank of America had bought up more than 300 Internet domain names in a would-be attempt to preempt bad publicity that might be forthcoming in the anticipated WikiLeaks release. The domain names were such as BrianMoynihanBlows.com and BrianMoynihanSucks.com HP Pavilion DM3-1050EO Battery

as well as similar names for other top executives of the bank.^{[112][113][114][115]} Nick Baumann of Mother Jones ridiculed this effort, stating: "If I owned stock in Bank of America, this would not give me confidence that the bank is prepared for whatever Julian Assange is planning to throw at it."^[116] HP Pavilion DM3-1050EP Battery

On March 14, 2011, one or more members of the decentralized collective Anonymous began releasing emails it said were obtained from Bank of America. According to the group, the emails document "corruption and fraud", and relate to the issue of improper foreclosures. HP Pavilion DM3-1050ER Battery

The source, identified publicly as Brian Penny,^[117] is a former LPI Specialist from Balboa Insurance, a firm which used to be owned by the bank, but was sold to Australian Reinsurance Company QBE.^[118]

The state of Arizona has investigated Bank of America for misleading homeowners who sought to modify their mortgage loans. HP Pavilion DM3-1050SS Battery

According to the attorney general of Arizona, the bank "repeatedly has deceived" such mortgagors. In response to the investigation, the bank has given some modifications on the condition that the homeowners refrain from criticizing the bank.^[119]

According to Kelly McMillan, operations director of McMillan Firearms, in April 2012, HP Pavilion DM3-1053XX Battery

Bank of America began terminating its business relationships with the company. McMillan said the company's accounts were in good standing and that a bank representative, Ray Fox, said the bank felt McMillan had moved from simple accessories to more involvement with manufacturing firearms. HP Pavilion DM3-1055EO Battery

According to McMillan, when asked if this was a political decision, Fox replied that it was.

The Bank of America Tower is a highrise in downtown Phoenix, Arizona. The tower is the centerpiece of the Collier Center, a multi-use office and entertainment complex. The tower was completed in 2000 and serves as the state headquarters for Bank of America. HP Pavilion DM3-1058NR Battery

It rises 360 feet (110 m), topping out at 23 floors. It was designed in the postmodernstyle by Opus Architects and Engineers.

A Bank of America branch, main lobby, and elevators to the upper floors are located on the second floor. Bank of America also occupies floors 14 - 24. There is no floor designated as 13. HP Pavilion DM3-1060EA Battery

The tower is among other things, headquarters for Bank of America's Arizona, Nevada and New Mexico banking center administration.

In January, 2008, the tower was covered with a graphic of the Vince Lombardi Trophyin anticipation of Super Bowl XLII. HP Pavilion DM3-1060EF Battery

The image was on the north face of the building overlooking Copper Square and spanned 18 floors. Bank of America Tower joined Hyatt Regency Phoenix in Downtown Phoenix with their temporary football themed decor.

In February, 2009, the east and south faces of the tower were covered with T-Mobile branded messages in anticipation of the 2009 NBA All Star Game. HP Pavilion DM3-1060EO Battery

Elite Media, Inc.of Las Vegas completed installation of Phoenix’s Largest Ad on the exterior of the Bank of America Tower in Downtown Phoenix. The south façade ad stood at 190' tall by 188’ wide, and the east façade ad at 190’ tall by 94’6” wide. The 53,694 total square feet of ad space was formed out of over 1400 individual panels to create the large mural images. HP Pavilion DM3-1060ER Battery

The Elite Media Wall System panels measured at 4’ x 20' and each was constructed out of a unique, weather-resistant, "see-through," perforated, adhesive material. Job installation took two weeks and required 5 installers hanging from scaffolding off the 380-foot (120 m) façade. HP Pavilion DM3-1060ES Battery

Columbia Center (formerly Bank of America Tower and Columbia Seafirst Center) is the tallest skyscraper in thedowntown Seattle skyline, as well as the tallest building in the State of Washington, and the Pacific Northwest region of North America. It occupies most of the block bounded by Fourth and Fifth Avenues and Cherry and Columbia Streets. HP Pavilion DM3-1065EO Battery

At 284.2 m (932 ft) it is currently the fourth tallest skyscraper west of the Mississippi River, the second tallest building on the West Coast (after Los Angeles' U.S. Bank Tower), and the twentieth tallest building in the United States. It contains 76 stories of class-A office space above ground and seven stories of various use below ground, HP Pavilion DM3-1070EA Battery

making it the building with the most stories west of the Mississippi.^[1] Construction of this building began in 1982 and finished in 1985. It was designed by Chester L. Lindsey Architects who also designed the Fourth and Blanchard Building in the Belltown neighborhood, and was built by Howard S. Wright Construction. HP Pavilion DM3-1070EO Battery

Columbia Center was designed by Washington architect Chester L. Lindsey.^[6] The base of the building is clad in Rosa Purino Carnelian granite. The building's structure is composed of three geometric concave facades with two setbacks, causing the building to appear like three towers standing side by side.^[7] HP Pavilion DM3-1070ES Battery

Ground level elevation on the Fifth Avenue side of the building is higher than on the Fourth Avenue side; the part of Cherry Street it faces was identified as one of the steepest streets in the Central Business District with a slope of 17.1%.^[8] The tower was originally designed to be about 306.5 m (1,006 ft), HP Pavilion DM3-1075EO Battery

but federal regulations by the Federal Aviation Administration (FAA) would not allow it to be that tall so close to the nearby Sea-Tac Airport. Although cityland use regulations at the time were intended to limit skyscrapers to about 50 stories, the developer, Martin Selig, HP Pavilion DM3-1080EF Battery

obtained the necessary permits for a 76-story skyscraper due to a part of the law that allowed bonus height for providing retail space with street access. Because three separate stories could access the street on the sloped site, the developers were allowed a bonus for each of the three stories they set aside for retail, HP Pavilion DM3-1080ES Battery

which was reportedly an unintended loophole in the law.^[9][10] There is an observation deck on the 73rd floor which offers views of Seattle and environs. The top two floors of the building (75th and 76th) are occupied by the private Columbia Tower Club, which houses a restaurant, bar, library, and meeting rooms. HP Pavilion DM3-1090ES Battery

An underground concourse connects the building to the nearbySeattle Municipal Tower and Bank of America Fifth Avenue Plaza.

The tower, originally proposed as Columbia Center, opened under the name Columbia Seafirst Center after its largest tenant and financier, Seafirst Bank, HP Pavilion DM3-1095ES Battery

and then to the Bank of America Tower, when Seafirst, which had been owned by Bank of America since 1983, was fully integrated into Bank of America. That name gave it the nickname "BOAT" (Bank ofAmerica Tower). In November 2005, the building's name was changed back to Columbia Center after the bank reduced its presence in the building. HP Pavilion DM3A Battery

Bank of America still maintains office space within the building, including a bank branch.^[11]

Columbia Center plays host to the largest firefighter competition in the world. About 1,300 firefighters from around the world yearly make the trek up 69 floors and 1,311 steps wearing their full firefighter gear. HP Pavilion DM3I Battery

This event benefits the local chapter of the Leukemia and Lymphoma society.

Martin Selig, a prominent Seattle developer, borrowed $205 million in 1981 to develop the property.^[10] The Columbia Seafirst Center, as it came to be known, was constructed by Howard S. Wright, completed on January 12, 1985,^[7] and opened on March 2.^[6] HP Pavilion DM3T Battery

U.S. Steel Corporation was contracted to provide 16,000 short tons (15,000 t) of steel for construction.^[12] It was approximately 50% taller than the previous tallest skyscraper in Seattle, the 630-foot (190 m)Seattle First National Bank Building that opened in 1969. Selig continued to own and manage the building until 1989, HP Pavilion DM3T-1000 Battery

when financial problems forced him to sell it to Seafirst Corporation for $354 million.^[13] Management was taken over by the Tishman West Company of Los Angeles.^[14]

Controversy regarding the skyscraper's size contributed to the passage of a 1989 law called the Citizen's Alternative Plan (CAP) HP Pavilion DM3T-1000 CTO Battery

that enforced more stringent restrictions on the size of buildings in Downtown Seattle.^[15] In 1990, after rejecting earlier plans for 300-foot (91 m) antennas,^[16] Seattle and the FAA granted permission to erect two 192-foot (59 m) antennas on top of Columbia Center, which were expected to be used for broadcasting radio and television throughout the region.^[17] HP Pavilion DM3Z Battery

Though the FAA was originally worried about the tower's height encroaching the airspace, they deemed the addition of the antennas not problematic.^[17] The antennas were not built before the permits expired in 1994, however.^[18]

Equity Office Properties bought Columbia Center from Seafirst in 1998 for $404 million.^[19] HP Pavilion DM3Z-1000 Battery

The New York State Common Retirement Fund bought a 49.9% stake in the building and then several years later sold its share back to Equity Office.^[20][21] In 2007, Columbia Center was sold by Equity Office to Beacon Capital,^[22][23] which is the current owner as of 2012.^[24] HP Pavilion DM3Z-1000 CTO Battery

On June 16, 2004, the 9/11 Commission reported that the original plan for the September 11, 2001, attacks called for the hijacking of ten planes, to be crashed into targets including the "tallest buildings in California and Washington State," which would have been the Columbia Center and the U.S. Bank Tower in Los Angeles. HP Pavilion DM3-1014TX Battery

The Bank of America Center is a highrise representing one of the first significant examples of postmodern architectureconstruction in downtown Houston, Texas. Formerly the RepublicBank Center, NCNB Center, and NationsBank Center the building was completed in October 1983 and designed by HP Pavilion DM3-1015AX Battery

award winning architect Philip Johnson and partner John Burgee and is reminiscent of the Dutch Gothic architecture of canal houses in The Netherlands. It has three segmented tower setbacks, each with " a steeply pitched gabled roofline that is topped off with spires".^[1] HP Pavilion DM3-1015EO Battery

The tower was developed byHines Interests and is owned by a joint venture of M-M Properties and an affiliate of the General Electric Pension Trust.

The banking center is housed in a separate building, due to construction problems, and has a three storey lobby.^[2] HP Pavilion DM3-1015TU Battery

The building contains an art gallery in the lobby and plans to host curated exhibitions such as art shows.

At 56 stories the Bank of America Center is the 55th tallest building in the United States and is the seventh tallestbuilding in Texas. HP Pavilion DM3-1015TX Battery

The northeast corner of the structure houses a building within a building. On the site is the main Western Union building and when relocation of the telegraph cables proved infeasible new structure was built over the site and the existing structure was incorporated into the new building intact. HP Pavilion DM3-1016AX Battery

On June 9, 2001, the building was the site of a tragic accident that took place during Tropical Storm Allison. Building security warned individuals that the below grade parking levels were in danger of flooding and instructed persons working late in the building to move vehicles to upper levels of the garage. HP Pavilion DM3-1016TX Battery

Kristie Tautenhahn, an employee of the law firmMayer, Brown & Platt,^[4] went to move her vehicle parked on sub-level 3 at 10:30 UTC (05:30 CDT) which by that time was completely submerged. She drowned in an elevator car when it filled with water as it descended to the lower floor of the garage. HP Pavilion DM3-1017TX Battery

Bank of America Plaza is a 72-story late-modernist skyscraper located in the Main Street District of downtown Dallas,Texas. Standing at a structural height of 921 ft (281 m), it is the tallest skyscraper in the city of Dallas. It is also the 3rd tallest in Texas and the 22nd tallest in the United States, while also being the 103rd tallest building in the world. HP Pavilion DM3-1018TX Battery

It contains 1,900,000 sq ft (180,000 m²) of office space. The building was designed by JPJ Architects, Inc. and Bramalea LTD. The original owner was a joint venture arrangement including Prudential Insurance, Bramalea, LTD and InterFirst Bank. Construction began in 1983 and finished in 1985. HP Pavilion DM3-1019AX Battery

The top two floors function as a broadcast communications tower using the building itself as a broadcast tower structure. ABC, CBS, NBC, FOX and WB-TV operate television transmission facilities on the 72nd floor and 74th level roof as well as most federal law enforcement agencies. HP Pavilion DM3-1019TX Battery

All point-to-point microwave and fixed-service antennas are concealed within a specifically designed glass communications parapet on the top floor. The base of the 73rd floor parapet opens to the 72nd floor data and communications center below allowing for easy and safe access during installation and servicing of wireless devices. HP Pavilion DM3-1020AX Battery

It also protects the hardware from weather. The building operates a sophisticated in-building distributed antenna system as well as a shared tenant data center. Telecommunication Properties, Inc. designed this facility in 1985.

Amateur radio operators also install repeater systems on this building. HP Pavilion DM3-1020CA Battery

W5EBQ has a 2 meter and 70 cm repeater system installed on the top of this building.

The Bank of America Building (^[1]) is the tallest building in the city of Providence and the state of Rhode Island, and the 28th tallest in New England.Standing at 428 feet (130 m) and comprising 26 floors, HP Pavilion DM3-1020EA Battery

it was the third tallest building in New England when completed, behind the Travelers Tower in Hartford, CT^[3] and the Custom House Tower inBoston.

The building was built as the Industrial Trust Tower in 1927, HP Pavilion DM3-1020EB Battery

and designed in the Art Deco style popular at the time. Though stepped buildings in New York City had been architects' solution for Manhattan's strict zoning policies regarding adequate light and air, facing no such restrictions in Providence New York architects Walker & Gillette, chose to keep symmetrical stepped massing. HP Pavilion DM3-1020EC Battery

The base and the trim at the base's top was built to match the cornice height of existing adjacent (now gone) four-story buildings.^[6] The building has remained relatively unchanged over the years with the exception of the lobby, the upper windows and several stone eagles at the top of the tower on the light beacon, HP Pavilion DM3-1020ED Battery

which were removed decades ago after an eagle fell to the street below. From nightfall until midnight the building's peak is lit a bright blue (red and green at Christmas, red for Valentine's Day).

The Bank of America building, built in 1927, is the oldest building to have a state record for tallest in state. HP Pavilion DM3-1020EF Battery

• The next oldest building to hold a state height record is the Empire State Building, built three years later.

During the 1950s, it was rumored that the Bank of America building served as the model for the Daily Planet building in Superman comic book. HP Pavilion DM3-1020EG Battery

The building is still referred to by Providence locals as the Superman Building for its resemblance to that of the comic and 1950s television series. However, Superman co-creator Joe Shuster claims he drew his inspiration not from this (nor the also rumored AT&T Huron Road Building in Cleveland, HP Pavilion DM3-1020EO Battery

Ohio, where Shuster was living at the time) but, rather, from his home city of Toronto (such as the Commerce Court North and theFairmont Royal York). The building shown in the television, program, however, is the Los Angeles City Hall, located at 150 S. Los Angeles Street in Los Angeles.^[8] HP Pavilion DM3-1020ER Battery

Its exterior can be seen in the background on Family Guy.

The Bank of America Corporate Center is an 871 ft (265 m) skyscraper in Uptown Charlotte, North Carolina. When completed in 1992, it became and still is the tallest building in North Carolina as well as the tallest building betweenPhiladelphia and Atlanta, Georgia; HP Pavilion DM3-1021AX Battery

it is 60 stories high. It is the 90th tallest building in the world. Designed byArgentine architect César Pelli and HKS Architects, it is the 26th tallest building in the United States and is the most widely known building in the Charlotte skyline.

It is the among the tallest buildings on the East Coast behind buildings in New York City and Philadelphia. HP Pavilion DM3-1021TX Battery

Sometimes locally referred to as the Taj McColl after then North Carolina National Bank (NCNB) chairman Hugh McColl who was responsible for the tower's construction,^[1] on a clear day the tower is visible to the naked eye from 35 miles (56 km) away.

On Wednesday, December 10, 1986, NCNB announced that it would be constructing what would become the Corporate Center. HP Pavilion DM3-1022AX Battery

Jointly developed with Charter Properties, the project was initially announced as a 50 story tower to be constructed with a 350 room hotel and what would become the North Carolina Blumenthal Performing Arts Center.^[3] The initial design for the 50 story tower was created by Charlotte based Odell Associates. HP Pavilion DM3-1022TX Battery

Its design featured a circular tower complete with a Greek cross lying flat on top to pay homage to the intersection of Trade and Tryon.^[4]

Additionally, its construction resulted in the demolition of an entire city block bound by North Tryon, East Trade, North College and East 5th Streets. HP Pavilion DM3-1023CA Battery

The most notable buildings lost in its construction were the Belk department store, constructed in 1908, along East Trade and the Efird's department store, constructed in 1922, on North Tryon.

On Friday, September 25, 1987, the Cesar Pelli design was announced by NCNB Chairman Hugh McColl as being selected for the project.^[7] HP Pavilion DM3-1023TX Battery

Additionally at the press conference it was revealed that the tower would be between 55-60 stories tall, sheathed in granite and be officially named the NCNB Corporate Center.^[7]

After winning the contract, its design was unveiled eight months later to the public on Tuesday, June 14, 1988.^[8] The final design was the 60 floor tower seen today. HP Pavilion DM3-1024AX Battery

It features a 30-foot (9.1 m) granite base along North Tryon Street followed by a facade of rosy beige granite and silver glass rising complete with curved sides. The tower gradually tapers through a series of six setbacks at the 13th, 44th and 53rd floors on the corners and at the 47th, HP Pavilion DM3-1024CA Battery

56th and 60th floors on the face as it reaches the tip of its crown 871 feet (265 m) above Tryon Street.

On Tuesday, January 3, 1989, demolition commenced on the block where the tower would eventually rise. HP Pavilion DM3-1025EZ Battery

The demolition work would take just over seven months to complete before excavation could commence. Site preparation would continue from August through November. During the excavation for the foundation, contractors found threads and flakes of gold embedded within pieces of granite removed from the site. HP Pavilion DM3-1025SA Battery

The discovery was not unexpected as Charlotte was the center of America's first gold rushduring the 1830s.^[10]

On November 19, 1989, the initial concrete pour was completed signaling the beginning of actual construction.^[11] HP Pavilion DM3-1026TX Battery

The mat foundation consists of a thick slab containing 3,500 cubic yards (2,700 m³) of concrete and 150 tons of reinforcing steel at the center of the tower. The foundation reaches 38 feet (12 m) below Tryon Street at its deepest point with the tower being supported by 36 concrete and steel piers. HP Pavilion DM3-1027TX Battery

These piers are able to withstand the 150,000 pounds of pressure per square foot placed upon them by the 300 million pound structure.^[11]

After only a couple of months, construction was temporarily halted after Hurricane Hugo slammed Charlotte with 90 mph (140 km/h) winds causing some damage on-site on Friday, September 22, 1989.^[12] HP Pavilion DM3-1028TX Battery

By November 1990, the tower had reached its 30th floor and as a result had risen to being the 5th tallest within Charlotte.^[11]On Wednesday, March 20, 1991, the tower officially became both Charlotte's and North Carolina's tallest when it reached a height of 589 feet (180 m) at its 47th floor to surpass the 588-foot (179 m) tall One First Union Center.^[13] HP Pavilion DM3-1030EA Battery

The tower was officiallytopped-out on Wednesday, October 2, 1991 with the final concrete pour completed.^[14] From this point, the 95-foot (29 m) tall crown was installed with its completion coming in December bringing the tower to its final 871-foot (265 m) height.^[14] HP Pavilion DM3-1030ED Battery

By January 1992, the tower had since been renamed the NationsBank Corporate Center to reflect the banks name change from NCNB in summer 1991.^[2] On May 1, the first tenants moved into the tower with its inaugural crown lighting taking place on May 9.^[2] HP Pavilion DM3-1030EF Battery

Completed in July 1992, its official dedication ceremony took place on Saturday, October 17, 1992.^[15] The celebrations that day included live entertainment, rappellers from Fort Bragg's 16th Military Police Brigade rappelling the height of the tower and a fireworks show. HP Pavilion DM3-1030EG Battery

In spite of being approved by both USAir and the airport authority as not posing a hazard, on May 15, 1989, a ruling by the Federal Aviation Administrationstated that the tower's height would potentially jeopardize some flights taking off and landing at Charlotte-Douglas International Airport.^[16] HP Pavilion DM3-1030EI Battery

A June 12 appeal filed with the regional FAA office in Atlanta upheld the original ruling resulting in the case being appealed to Washington. Although the FAA could not force NCNB to halt construction of the tower, its "declaration of hazard to air navigation" could have potentially cost the city millions in federal airport grants as well as impeding the ability of NCNB to secure insurance for the tower upon its completion.^[16] HP Pavilion DM3-1030ER Battery

By December 1989, the issue was resolved when the FAA ruled that slight changes in air-traffic procedures around the building would resolve the hazard posed by the 871-foot (265 m) tower.^[17] With the influence of both U.S. representative Alex McMillan and Senator Ernest Hollings, HP Pavilion DM3-1030SA Battery

the reversal of the original ruling was made after further review by the FAA.^[17] Since its construction, there has not been an incident involving an aircraft and the tower.

Today, the Bank of America Corporate Center serves as the world headquarters for Bank of America. HP Pavilion DM3-1030US Battery

The building was originally the headquarters of NationsBank, which bought Bank of America and disposed of BankAmerica's headquarters at 555 California Street, then the Bank of America Center, in San Francisco. McKinsey & Company is also a tenant in the tower. HP Pavilion DM3-1031TX Battery

The Bank of America Corporate Center's crown shaped spire is the focal point of the building and it makes it stand outarchitecturally. Its spire does not reflect from the outside like the Chrysler Building or any others; it shines from within and instead of stainless steel there is glass illuminated by floodlights, making it stand out from the many world skyscrapers. HP Pavilion DM3-1032TX Battery

Bank of America began shining the top of the crown shaped spire from white to blue in honor of the Carolina Panthers who were NFC champions in the 2003-2004 NFL Season.

The Center's lobby boasts a work of art by artist Ben Long, one of the largest secular frescoes in the world. HP Pavilion DM3-1033TX Battery

The work took more than a year to complete and was painted on site using the traditional technique of fresco painting.

Connected to the tower is the North Carolina Blumenthal Performing Arts Center, which contains three performance halls and overlooks the tower from various skylights. HP Pavilion DM3-1034TX Battery

The official address of the Bank of America Corporate Center is 100 North Tryon Street, Charlotte, NC 28202.On July 20, 2005 Ken Lewis, then CEO and Mr. Cyprian White of the Credit Bureau of the Bank of America, announced the construction of a brand new 150 key Ritz-Carlton and LEED certified 40 storey office retail complex located adjacent to the Bank of America Corporate Center. HP Pavilion DM3-1035BR Battery

Bank of America Tower at One Bryant Park is a 1,200 ft (366 m) skyscraper in the Midtown district of Manhattan inNew York City, in the United States. It is located on Sixth Avenue, between 42nd and 43rd Street, opposite Bryant Park. HP Pavilion DM3-1035DX Battery

The US$1 billion project was designed by Cook+Fox Architects to be one of the most efficient and ecologically friendly buildings in the world. It is the third tallest building in New York City, after One World Trade Center and the Empire State Building, and the fifth tallest building in the United States. Construction was completed in 2009.^[6] HP Pavilion DM3-1035EF Battery

In October 2009 the building featured on episode 100 of the National Geographic Channel television seriesMegaStructures.^[7]

In June 2010, the Bank of America Tower was the recipient of the 2010 Best Tall Building Americas award by the Council on Tall Buildings and Urban Habitat. HP Pavilion DM3-1035EO Battery

The tower's architectural spire is 255.5 ft (77.9 m) tall and was placed on December 15, 2007. The building is 55 stories high and contains 2,100,000 square feet (195,096 m²) of office space, three escalators and a total of 52 elevators manufactured bySchindler Group – 50 to serve the offices and one leading to the transit mezzaninebelow ground.^[9] HP Pavilion DM3-1035TX Battery

Several buildings were demolished to make way for the tower. Among them was the Hotel Diplomat, a 13-story structure which occupied the site at 108 West 43rd Street since 1911^[10], and Henry Miller's Theatre, which was rebuilt and reopened under its previous location. HP Pavilion DM3-1039WM Battery

The building's tenants include Bank of Americaas the anchor tenant, and the tower's platinum LEED rating and modern column-free office space has helped to entice tenants from all over the city. The Bank of America Tower is considered a worldwide model for green architecture in skyscrapers. HP Pavilion DM3-1040EF Battery

The design of the building makes it environmentally friendly, using technologies such as floor-to-ceiling insulating glass to contain heat and maximize natural light, and an automatic daylight dimming system. The tower also features a greywater system, which captures rainwater for reuse. HP Pavilion DM3 Battery

Bank of America states that the building is made largely of recycled and recyclable materials.^[11] Air entering the building is filtered, as is common, but the air exhausted is cleaned as well.^[12] Bank of America Tower is the first skyscraper designed to attain a Platinum LEEDCertification. HP Pavilion DM3-1000 Battery

The Bank of America tower is constructed using a concrete manufactured with slag, a byproduct of blast furnaces. The mixture used in the tower concrete is 55% cement and 45% slag. The use of slag cement reduces damage to the environment by decreasing the amount of cement needed for the building, HP Pavilion DM3-1001AU Battery

which in turn lowers the amount of carbon dioxide greenhouse gas produced through the normal cement manufacturing process. Each ton of regular cement produced creates about one ton of carbon dioxide in the atmosphere.^[13]

Temperature control and the production of some of its energy are accomplished in an environmentally friendly manner for the tower. HP Pavilion DM3-1001AX Battery

Insulating glass reduces thermal loss, lowering energy consumption and increasing transparency. Carbon dioxide sensors signal increased fresh air ventilation when elevated levels of carbon dioxide are detected in the building.

Conditioned air for the occupants is provided by multiple air column units located in the tenant space that deliver 62 degree air into a raised access floor plenum. HP Pavilion DM3-1001TU Battery

This underfloor air system provides users with the ability to control their own space temperature as well as improving the ventilation effectiveness. When building churn occurs, workstation moves can be performed easier with lower cost and less product waste. HP Pavilion DM3-1002AX Battery

The cooling system produces and stores ice during off-peak hours, and allows the ice to melt to help cool the building during peak load, similar to the ice batteries in the 1995 Hotel New Otani in Tokyo, Japan.^[14] Ice batteries have been used since absorption chillers first made ice commercially available 150 years ago, before the invention of the electric light bulb.^[15] HP Pavilion DM3-1002TU Battery

Water conservation features in the tower include waterless urinals, which are estimated to save 8,000,000 USgal (30,000,000 l) of water per year and reduce CO₂ emissions by 144,000 lb (65,000 kg) per year (as calculated with the Pacific Institute water-to-air model).^[16]The tower has a 4.6-megawatt cogeneration plant, HP Pavilion DM3-1003AX Battery

which provides part of the base-load energy requirements. Onsite power generation reduces the significant electrical transmission losses that are typical of central power production plants.^[17]

In June 2008, the New York Academy of Sciences launched a podcast which highlights these green features. HP Pavilion DM3-1003TU Battery

Albuquerque Plaza also known as the Bank of Albuquerque Tower is a 107 m (351 ft) high-rise on the south side of Civic Plaza 201 Third Street NW, in Downtown Albuquerque, New Mexico. It is the taller of a two tower complex that contains class-A office space connected at ground HP Pavilion DM3-1003TX Battery

level by a two-story promenade containing retail space connecting to the shorter Hyatt Regency Albuquerque hotel tower. At 22 stories it is the tallest building in New Mexico. The hotel tower, with 21 stories, is the state's second tallest building at 78.03 m (256.0 ft). Their similar height, color, and pyramidal roofs make them the focal point of the Albuquerque skyline. HP Pavilion DM3-1004AX Battery

Albuquerque Plaza complex was designed by Hellmuth, Obata, & Kassabaum and built in 1990.

The Bank of America Building, formerly the Baltimore Trust Company Building, is a 37 story, 155.15 m (509.0 ft)skyscraper located at the corner of East Baltimore and Light Streets in downtown Baltimore, Maryland. HP Pavilion DM3-1004TU Battery

The tower was the tallest building in the state, and the tallest office building in the United States south of New York City when constructed in 1929. The Art Deco building was designed by the firm of Taylor and Fisher, and completed in eighteen months, fashioned from Indiana sandstone and local brick over a steel frame^[4] at a cost of 3 million US Dollar.^[5] HP Pavilion DM3-1004TX Battery

The building's exterior is decorated with carved Romanesque human and animal images, stylized eagles, and is capped with a copper and gold roof. The ornate, two-story main banking lobby is highly decorated with mosaic floors designed byHildreth Meiere, and historic murals by Griffith Baily Coale and McGill Mackall on historic themes: HP Pavilion DM3-1004XX Battery

the Baltimore fire of 1904, and the writing of the National Anthem at the Battle of Baltimore during the War of 1812. HP Pavilion DM3-1005AX Battery,HP Pavilion DM3-1005TU Battery,HP Pavilion DM3-1005TX Battery