Five Things You Didn’t Know About Bank of America

With 16,000 ATM’s and 5,200 branches, BofA is one of the most commonly recognized companies in the United States and the country’s second largest bank. (JPMorgan is the largest with about $2.46T in assets; BofA has about $2.13T in assets.)

Bank of America has over $2T in assets, but it is getting smaller. In a time where JPMorgan has grown from $2.12T in 2010 to $2.46T today, BofA has gone from $2.27T in 2010, to $2.13T today.
BofA has about half as many online users as Pinterest. The popular social networking site Pinterest has about 70M users, and BofA has about 30M online banking accounts.
BofA is comprised of 1,537 companies in one. To comply with federal regulations and intonation laws, banks have to do business using a variety of subsidiaries. In this case, “variety” equals 1,537.
In 2011, BofA tried to implement a $5 fee for its customer who used their debit cards. Customers boisterously voiced their objections and the plan was dropped about three days later. BofA current derives about a third of their consumer lending revenue from fees to merchants and customers.
It is aptly named. While it isn’t the largest bank in the country by size, it remains the preferred bank for American consumers and companies. It holds about 12% of the $9.4T dollars of deposits in FDIC insured banks, compared to JPMorgan and Wells Fargo which each hold about 10%.