Bank of America (abbreviated as BoA) 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. As of 2013, Bank of America is the twenty-first largest company in the United States by total revenue. In 2010, Forbes listed Bank of America as the third biggest company in the world.
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.
The company held 12.2% of all bank deposits in the United States in August 2009, and is one of the Big Four banks in the United States, along with Citigroup, JPMorgan Chase and Wells Fargo—its main competitors. Bank of America operates—but doesn't necessarily maintain retail branches—in all 50 states of the U.S., the District of Columbia and more than 40 other countries. It has a retail banking footprint that serves approximately 50 million consumer and small business relationships at 5,151 banking centers and 16,259 automated teller machines (ATMs).
Bank of America has been the subject of several lawsuits and investigations regarding both mortgages and financial disclosures, including a record settlement of $16.65 billion on August 21, 2014.