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Bank of america las vegas near me


bank of america las vegas near me

Bank of America is one of the few banks with an ATM located on the Strip the Main Guest Service Center and in Section 7 near the Jack Daniels Lounge. Bank of America financial center is located at 10390 W Charleston Blvd Las Vegas, NV 89135. Our branch conveniently offers drive-thru ATM services. Bank of America and BofA Securities (formerly Bank of America Merrill Lynch) provide global perspectives, comprehensive solutions and strategic guidance.

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Bank of america las vegas near me -

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SILVERADO & BERMUDA

OFFICE DETAILS

Bank of America Silverado & Bermuda branch is one of the 4216 offices of the bank and has been serving the financial needs of their customers in Las Vegas, Clark county, Nevada for over 15 years. Silverado & Bermuda office is located at 410 East Silverado Ranch Boulevard, Las Vegas. You can also contact the bank by calling the branch phone number at 702-654-6446

Bank of America Silverado & Bermuda branch operates as a full service brick and mortar office. For lobby hours, drive-up hours and online banking services please visit the official website of the bank at www.bankofamerica.com. You can edit branch details by clicking here if you believe the information is incomplete, incorrect, out of date or misleading.

BRANCH HOURS

  • ■ Monday:9:00am - 5:00pm

  • ■ Tuesday:9:00am - 5:00pm

  • ■ Wednesday:9:00am - 5:00pm

  • ■ Thursday:9:00am - 5:00pm

  • ■ Friday:9:00am - 6:00pm

  • ■ Saturday:9:00am - 1:00pm

  • ■ Sunday:Closed

Bank of America Silverado & Bermuda is open Monday to Saturday and closed on Sundays. The branch opens at 9:00am in the morning. Working hours for Silverado & Bermuda branch are listed on the table above. Note that this data is based on regular opening and closing hours of Bank of America and may also be subject to changes. Please call the branch at 702-654-6446 to verify hours before visiting.

BANK INFORMATION

  • Bank Name:Bank of America

  • Bank Type:National Bank

  • FDIC Insurance:Certificate #3510

  • Routing Number:N/A

  • Online Banking:bankofamerica.com

  • Branch Count:4216 Offices in 37 states

Источник: https://www.bankbranchlocator.com/bank-of-america-silverado-bermuda-las-vegas-branch.html

Bank of America

American multinational banking and financial services corporation

This article is about a commercial bank unaffiliated with any government. For the central bank of the United States, see Federal Reserve System.

"BofA" redirects here. For the French illustrator, see Gus Bofa.

Bank of America logo.svg
Bank of America Corporate Center.jpg

The Bank of America Corporate Center, headquarters of Bank of America in Charlotte, North Carolina

TypePublic company

Traded as

ISINUS0605051046
IndustryFinancial services
PredecessorBank America
NationsBank
Founded1998 (via the merger of BankAmerica & NationsBank)
1956 (as BankAmerica)
1784 (as its predecessor, the Massachusetts Bank, through the merger with FleetBoston in 1999)
FounderAmadeo Giannini (BankAmerica)
Hugh McColl
(NationsBank)
HeadquartersCharlotte, North Carolina, U.S. (Corporate)
New York, NY (Investment banking)

Number of locations

4,600 retail financial centers & approximately 16,200 ATMs[1]

Area served

Worldwide

Key people

ProductsAsset management, banking, commodities, credit cards, equities trading, insurance, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management
RevenueDecreaseUS$85.52 billion (2020)[1]

Operating income

DecreaseUS$18.99 billion (2020)[1]

Net income

DecreaseUS$17.89 billion (2020)[1]
Total assetsIncreaseUS$2.819 trillion (2020)[1]
Total equityDecreaseUS$272.92 billion (2020)[1]
OwnersBerkshire Hathaway (11.9%) The Vanguard Group (7.1%) BlackRock (6.2%)[2][3]

Number of employees

200,000 (2020)[1]
DivisionsBofA Securities
Merrill
Bank of America Private Bank
Websitebankofamerica.com

The Bank of America Corporation (simply referred to as Bank of America, often abbreviated as BofA or BoA) is an American multinational investment bank and financial servicesholding company headquartered in Charlotte, North Carolina. The bank was founded in San Francisco, and took its present form when NationsBank of Charlotte acquired it in 1998. It is the second largest banking institution in the United States, after JPMorgan Chase, and the eighth largest bank in the world. Bank of America is one of the Big Four banking institutions of the United States.[4] It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking.

One branch of its history stretches back to Bank of Italy, founded by Amadeo Pietro Giannini in 1904, which provided various banking options to Italian immigrants who faced service discrimination.[5] Originally headquartered in San Francisco, California, Giannini acquired Banca d'America e d'Italia (Bank of America and Italy) in 1922. The passage of landmark federal banking legislation facilitated a rapid growth in the 1950s, quickly establishing a prominent market share. After suffering a significant loss after the 1998 Russian bond default, BankAmerica, as it was then known, was acquired by the Charlotte-based NationsBank for US$62 billion. Following what was then the largest bank acquisition in history, the Bank of America Corporation was founded. Through a series of mergers and acquisitions, it built upon its commercial banking business by establishing Merrill Lynch for wealth management and Bank of America Merrill Lynch for investment banking in 2008 and 2009, respectively (since renamed BofA Securities).[6]

Both Bank of America and Merrill Lynch Wealth Management retain large market shares in their respective offerings. The investment bank is considered within the "Bulge Bracket" as the third largest investment bank in the world, as of 2018[update].[7] Its wealth management side manages US$1.081 trillion in assets under management (AUM) as the second largest wealth manager in the world, after UBS.[8] In commercial banking, Bank of America operates—but does not necessarily maintain retail branches—in all 50 states of the United States, the District of Columbia and more than 40 other countries.[9] Its commercial banking footprint encapsulates 46 million consumer and small business relationships at 4,600 banking centers and 15,900 automated teller machines (ATMs).

The bank's large market share, business activities, and economic impact has led to numerous lawsuits and investigations regarding both mortgages and financial disclosures dating back to the 2008 financial crisis. Its corporate practices of servicing the middle class and wider banking community has yielded a substantial market share since the early 20th century. As of August 2018[update], Bank of America has a $313.5 billion market capitalization, making it the 13th largest company in the world. As the sixth largest American public company, it garnered $102.98 billion in sales as of June 2018[update].[10] Bank of America was ranked #25 on the 2020 Fortune 500 rankings of the largest US corporations by total revenue.[11] Likewise, Bank of America was also ranked #8 on the 2020 Global 2000 rankings done by Forbes. Bank of America was named the "World's Best Bank" by the Euromoney Institutional Investor in their 2018 Awards for Excellence.[12]

History[edit]

The Bank of America name first appeared in 1923, with the formation of Bank of America, Los Angeles. In 1928, it was acquired by Bank of Italy of San Francisco, which took the Bank of America name two years later.[13]

The eastern portion of the Bank of America franchise can be traced to 1784, when Massachusetts Bank was chartered, the first federally chartered joint-stock owned bank in the United States and only the second bank to receive a charter in the United States. This bank became FleetBoston, with which Bank of America merged in 2004. In 1874, Commercial National Bank was founded in Charlotte. That bank merged with American Trust Company in 1958 to form American Commercial Bank.[14] Two years later it became North Carolina National Bank when it merged with Security National Bank of Greensboro. In 1991, it merged with C&S/Sovran Corporation of Atlanta and Norfolk to form NationsBank.

The central portion of the franchise dates to 1910, when Commercial National Bank and Continental National Bank of Chicago merged in 1910 to form Continental & Commercial National Bank, which evolved into Continental Illinois National Bank & Trust.

Bank of Italy[edit]

Main article: Bank of Italy (United States)

From a naming perspective, the history of Bank of America dates back to October 17, 1904, when Amadeo Pietro Giannini founded the Bank of Italy in San Francisco.[13] In 1922, Bank of America, Los Angeles was established with Giannini as a minority investor. The two banks merged in 1928 and consolidated with other bank holdings to create what would become the largest banking institution in the country.[15] In 1986, Deutsche Bank AG acquired 100% of Banca d'America e d'Italia, a bank established in Naples, Italy, in 1917 following the name-change of Banca dell'Italia Meridionale with the latter established in 1918.[citation needed] In 1918, another corporation, Bancitaly Corporation, was organized by A. P. Giannini, the largest stockholder of which was Stockholders Auxiliary Corporation.[15] This company acquired the stocks of various banks located in New York City and certain foreign countries.[15][16] In 1918, the Bank opened a Delegation in New York in order to follow American political, economic and financial affairs more closely.[15] In 1928, Giannini merged his bank with Bank of America, Los Angeles, headed by Orra E. Monnette. Bank of Italy was renamed on November 3, 1930, to Bank of America National Trust and Savings Association,[17] which was the only such designated bank in the United States at that time. Giannini and Monnette headed the resulting company, serving as co-chairs.[18]

Expansion in California[edit]

Giannini introduced branch banking shortly after 1909 legislation in California allowed for branch banking in the state, establishing the bank's first branch outside San Francisco in 1909 in San Jose. By 1929 the bank had 453 banking offices in California with aggregate resources of over US$1.4 billion.[19] There is a replica of the 1909 Bank of Italy branch bank in History Park in San Jose, and the 1925 Bank of Italy Building is an important downtown landmark. 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.[20] 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 sector. 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. Only in the 1980s, with a change in federal banking legislation and regulation, could Bank of America again expand its domestic consumer banking activity outside California.

New technologies also allowed the direct linking of credit cards with individual bank accounts. In 1958, the bank introduced the BankAmericard, which changed its name to Visa in 1977.[21] A coalition of regional bankcard associations introduced Interbank in 1966 to compete with BankAmericard. Interbank became Master Charge in 1966 and then MasterCard in 1979.[22]

[edit]

Following the passage of the Bank Holding Company Act of 1956 by the US Congress,[23] BankAmerica Corporation was established for the purpose of owning and operating Bank of America and its subsidiaries.

Bank of America expanded outside California in 1983, with its acquisition, orchestrated in part by Stephen McLin, of Seafirst Corporation of Seattle, Washington, and its wholly owned banking subsidiary, Seattle-First National Bank.[24] Seafirst was at risk of seizure by the federal government after becoming insolvent due to a series of bad loans to the oil industry. BankAmerica continued to operate its new subsidiary as Seafirst rather than Bank of America until the 1998 merger with NationsBank.[24]

BankAmerica experienced huge losses in 1986 and 1987 due to the placement of a series of bad loans in the Third World, particularly in Latin America.[citation needed] The company fired its CEO, Sam Armacost in 1986. Though Armacost blamed the problems on his predecessor, A.W. (Tom) Clausen, Clausen was appointed to replace Armacost.[citation needed] 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.[25] 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.[citation needed]

BankAmerica's next big acquisition came in 1992. The company acquired 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. This represented, at the time, the largest bank acquisition in history.[26] 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. The Washington branches were divided and sold to West One Bancorp (now U.S. Bancorp) and KeyBank.[27] Later that year, BankAmerica expanded into Nevada by acquiring Valley Bank of Nevada.[28]

In 1994 BankAmerica acquired the Continental Illinois National Bank and Trust Co. of Chicago. At the time, no bank possessed the resources to bail out Continental, so the federal government operated the bank for nearly a decade.[29]Illinois then 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.[30]

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 North Carolina's fast-growing NationsBank Corporation, and to third in 1998 behind First Union Corp.[citation needed]

Bank of America logo used from 1998 to 2018

On the capital markets side, the acquisition of Continental Illinois helped BankAmerica to build a leveraged finance origination- and distribution business, which allowed the firm's existing broker-dealer, BancAmerica Securities (originally named BA Securities), to become a full-service franchise.[31] In addition, in 1997, BankAmerica acquired Robertson Stephens, a San Francisco–based investment bank specializing in high technology for $540 million.[32] Robertson Stephens was integrated into BancAmerica Securities, and the combined subsidiary was renamed "BancAmerica Robertson Stephens".[33]

Merger of NationsBank and BankAmerica[edit]

Logo of the former Bank of America (BA), 1969–1998

In 1997, BankAmerica lent hedge fundD. E. Shaw & Co. $1.4 billion in order to run various businesses for the bank.[34] However, D.E. Shaw suffered significant loss after the 1998 Russia bond default.[35][36]NationsBank of Charlotte acquired BankAmerica in October 1998 in what was the largest bank acquisition in history at that time.[37]

While NationsBank was the nominal survivor, the merged bank took the better-known name of Bank of America. Hence, the holding company was renamed Bank of America Corporation, while NationsBank, N.A. merged with Bank of America NT&SA to form Bank of America, N.A. as the remaining legal bank entity.[38] The combined bank operates under Federal Charter 13044, which was granted to Giannini's Bank of Italy on March 1, 1927. However, the merged company was and still is headquartered in Charlotte, and retains NationsBank's pre-1998 stock price history. All U.S. Securities and Exchange Commission (SEC) filings before 1998 are listed under NationsBank, not Bank of America. NationsBank president, chairman, and CEO Hugh McColl, took on the same roles with the merged company.[citation needed]

In 1998, Bank of America possessed combined assets of $570 billion, as well as 4,800 branches in 22 states.[citation needed] Despite the 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.[39] The broker-dealer, NationsBanc Montgomery Securities, was named Banc of America Securities in 1998.[citation needed]

2001 to present[edit]

Typical Bank of America branch in Los Angeles

In 2001, 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.[40] 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.[40] 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. The Federal 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, 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.

Bank of America operated under the name BankBoston in many other Latin American countries, including Brazil. In May 2006, Bank of America and Banco Itaú (Investimentos Itaú S.A.) 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, in exchange for Itaú shares. The deal was signed in August 2006.

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. 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, 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.

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.[41]

On September 14, 2007, Bank of America won approval from the Federal Reserve to acquire LaSalle Bank Corporation from 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. 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 acquisition also included the Chicago Marathon event, which ABN AMRO acquired in 1996. Bank of America took over the event starting with the 2007 race.

The deal increased Bank of America's presence in Illinois, Michigan, 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.[42]

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, 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.[43][44]

Acquisition of Countrywide Financial[edit]

On August 23, 2007, the company announced a $2 billion repurchase agreement for Countrywide Financial. 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.[45]

On January 11, 2008, Bank of America announced that it would buy Countrywide Financial for $4.1 billion.[46] In March 2008, it was reported that the Federal Bureau of Investigation (FBI) was investigating Countrywide for possible fraud relating to home loans and mortgages.[47] This news did not hinder the acquisition, which was completed in July 2008,[48] giving the bank a substantial market share of the mortgage business, and access to Countrywide's resources for servicing mortgages.[49] 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.[50]

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.[51] 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.[52] Countrywide Financial has changed its name to Bank of America Home Loans.

Chart showing the trajectory of BOA share value and transaction volume during the 2007–2009 financial crisis

In December 2011, the Justice Department announced a $335 million settlement with Bank of America over discriminatory lending practice at Countrywide Financial. Attorney GeneralEric 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.[53]

Acquisition of Merrill Lynch[edit]

On September 14, 2008, Bank of America announced its intention 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.[54] 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.[55] Lehman Brothers filed for bankruptcy the same day Bank of America announced its plans to acquire Merrill Lynch.[56] This acquisition made Bank of America the largest financial services company in the world.[57]Temasek Holdings, the largest shareholder of Merrill Lynch & Co., Inc., briefly became one of the largest shareholders of Bank of America, with a 3% stake.[58] However, taking a loss Reuters estimated at $3 billion, the Singaporesovereign wealth fund sold its whole stake in Bank of America in the first quarter of 2009.[59]

Shareholders of both companies approved the acquisition on December 5, 2008, and the deal closed January 1, 2009.[60] Bank of America had planned to retain various members of the then Merrill Lynch's CEO, John Thain's management team after the merger.[61] 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, left just one of Thain's hires in place: Tom Montag, head of sales and trading.[62]

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[63] 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, 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, 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[6] that he had some misgivings about the acquisition of Merrill Lynch and that federal official pressured him to proceed with the deal or face losing his job and endangering the bank's relationship with federal regulators.[64]

Lewis' statement is backed up by internal emails subpoenaed by Republican lawmakers on the House Oversight Committee.[65] 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, 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.

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.[66] As the credit crisis eased, losses at Merrill Lynch subsided, 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.[67][68]

On September 28, 2012, Bank of America settled the class action lawsuit over the Merrill Lynch acquisition and will pay $2.43 billion.[69] This was one of the first major securities class action lawsuits stemming from the financial crisis of 2007–2008 to settle. Many major financial institutions had a stake in this lawsuit, including Chicago Clearing Corporation, hedge funds, and bank trusts, due to the belief that Bank of America stock was a sure investment.

Federal Troubled Asset Relief Program[edit]

On January 16, 2009, Bank of America received $20 billion and a guarantee of $118 billion in potential losses from the U.S. government through the Troubled Asset Relief Program (TARP).[70] This was in addition to the $25 billion given to the bank 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 Merrill Lynch.[71] 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.[72] Then CEO Ken Lewis was quoted as claiming "We are still lending, and we are lending far more because of the TARP program." 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.

According to an article in The New York Times published on March 15, 2009, Bank of America received an additional $5.2 billion in government bailout money via the bailout of American International Group.[73]

As a result of its federal bailout and management problems, 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". 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.[74]

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. 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, 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."[75][76]

Bonus settlement[edit]

On August 3, 2009, Bank of America agreed to pay a $33 million fine, without admission or denial of charges, to the U.S. 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. The issue was originally investigated by New York Attorney GeneralAndrew Cuomo, who commented after the suit and announced a 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." 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."[77] A federal judge, Jed Rakoff, in an unusual action, refused to approve the settlement on August 5.[78] A first hearing before the judge on August 10 was at times heated, and he was "sharply critic[al]" 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; at least one person received a more than $33 million bonus.[79]

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, 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," ... "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. And all this is done at the expense, not only of the shareholders but also of the truth."[80]

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". 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, United States District Court for the Southern District of New York.[81]

Investigations also were held on this issue in the United States House Committee on Oversight and Government Reform,[80] under chairman Edolphus Towns (D-NY)[82] and in its investigative Domestic Policy Subcommittee under Kucinich.[83]

Fraud[edit]

In 2010, the U.S. government accused the bank 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, including $25 million to the Internal Revenue Service and $4.5 million to the state attorney general, to the affected organizations to settle the allegations.[84]

Former bank official Douglas Campbell pleaded guilty to antitrust, conspiracy, and wire fraud charges. As of January 2011[update], other bankers and brokers are under indictment or investigation.[85]

On October 24, 2012, the top federal prosecutor in Manhattan filed a lawsuit alleging that Bank of America fraudulently cost American taxpayers more than $1 billion when Countrywide Financial sold toxic mortgages to Fannie Mae and Freddie Mac. The scheme was called 'Hustle', or High Speed Swim Lane.[86][87] On May 23, 2016, the Second U.S. Circuit Court of Appeals ruled that the finding of fact by the jury that low quality mortgages were supplied by Countrywide to Fannie Mae and Freddie Mac in the "Hustle" case supported only "intentional breach of contract," not fraud. The action, for civil fraud, relied on provisions of the Financial Institutions Reform, Recovery and Enforcement Act. The decision turned on lack of intent to defraud at the time the contract to supply mortgages was made.[88]

Downsizing (2011 to 2014)[edit]

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.[89]

In December 2011, Forbes ranked Bank of America's financial wealth 91st out of the nation's largest 100 banks and thrift institutions.[90]

Bank of America cut around 16,000 jobs in a quicker fashion by the end of 2012 as revenue continued to decline because of new regulations and a slow economy. This put a plan one year ahead of time to eliminate 30,000 jobs under a cost-cutting program, called Project New BAC.[91] In the first quarter of 2014, Berkshire bank purchased 20 Bank of America branches in Central and eastern New York for 14.4 million dollars. The branches were from Utica/Rome region and down the Mohawk Valley east to the capital region.

In April and May 2014, Bank of America sold two dozen branches in Michigan to Huntington Bancshares. The locations were converted to Huntington National Bank branches in September.[92]

As part of its new strategy Bank of America is focused on growing its mobile banking platform. As of 2014[update], Bank of America has 31 million active online users and 16 million mobile users. Its retail banking branches have decreased to 4,900 as a result of increased mobile banking use and a decline in customer branch visits. By 2018, the number of mobile users has increased to 25.3 million and the number of locations fell to 4,411 at the end of June.[93]

Sale of stake in China Construction Bank[edit]

In 2005, Bank of America acquired a 9% stake in China Construction Bank, one of the Big Four banks in China, for $3 billion.[94] It represented the company's largest foray into China's growing banking sector. Bank of America 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.[95] In November 2011, Bank of America announced plans to divest most of its stake in the China Construction Bank.[96]

In September 2013, Bank of America sold its remaining stake in the China Construction Bank for as much as $1.5 billion, marking the firm's full exit from the country.[97]

$17 billion settlement with Justice Department[edit]

In August 2014, Bank of America agreed to a near–$17 billion deal to settle claims against it relating to the sale of toxic mortgage-linked securities including subprime home loans, in what was believed to be the largest settlement in U.S. corporate history. The bank agreed with the U.S. Justice Department to pay $9.65 billion in fines, and $7 billion in relief to the victims of the faulty loans which included homeowners, borrowers, pension funds and municipalities.[98] Real estate economist Jed Kolko said the settlement is a "drop in the bucket" compared to the $700 billion in damages done to 11 million homeowners. Since the settlement covered such a substantial portion of the market, he said for most consumers "you're out of luck."[99]

Much of the government's prosecution was based on information provided by three whistleblowers – Shareef Abdou (a senior vice president at the bank), Robert Madsen (a professional appraiser employed by a bank subsidiary), and Edward O'Donnell (a Fannie Mae official). The three men received $170 million in whistleblower awards.[100]

[edit]

Bank of America has formed a partnership with the United States Department of Defense creating a newly chartered bank DOD Community Bank[101] ("Community Bank") providing full banking services to military personnel at 68 branches and ATM locations[102] on U.S. military installations in Guantanamo Bay Naval BaseCuba, Diego Garcia, Germany, Japan, Italy, Kwajalein Atoll, South Korea, the Netherlands, and the United Kingdom. Even though Bank of America operates Community Bank, customer services are not interchangeable between the two financial institutions,[103] meaning that a Community Bank customer cannot go to a Bank of America branch and withdraw from their account and vice versa. Deposits made into checking and savings accounts are insured by the Federal Deposit Insurance Corporation up to $250,000 despite the fact that none of Community's operating branches are located within the jurisdictional borders of the United States.

Decision not to finance makers of military-style guns[edit]

In April 2018, Bank of America announced that it would stop providing financing to makers of military-style weapons such as the AR-15 rifle.[104] In announcing the decision, Bank of America referenced recent mass shootings and said that it wanted to "contribute in any way we can" to reduce them.

Return to expansion (2015–present)[edit]

In 2015, Bank of America began expanding organically, opening branches in cities where it previously did not have a retail presence. They started that year in Denver, followed by Minneapolis–Saint Paul and Indianapolis, in all cases having at least one of its Big Four competitors, with Chase Bank being available in Denver and Indianapolis, while Wells Fargo is available in Denver and the Twin Cities.[105] The Twin Cities market is also the home market of U.S. Bancorp, the largest non-Big Four rival.

In January 2018, Bank of America announced an organic expansion of its retail footprint into Pittsburgh and surrounding areas, to supplement its existing commercial lending and investment businesses in the area. Before the expansion, Pittsburgh had been one of the largest US cities without a retail presence by any of the Big Four, with locally based PNC Financial Services (no. 6 nationally) having a commanding market share in the area;[105][106] this coincided with Chase making a similar expansion into Pittsburgh.[107] By the end of the fiscal year 2020, Bank of America had become Pittsburgh's 16th largest bank by deposits, which considering the dominance of PNC and BNY Mellon in the market is considered relatively impressive.[108] By 2021, Bank of America had moved up to 12th in the market.[109]

In February 2018, Bank of America announced it would expand into Ohio across the state's three biggest cities (Cleveland, Columbus, and Cincinnati), which are strongholds of Chase.[110][111] Columbus serves as the bank's hub in Ohio due to its central location as the state's capital, its overall size and growth, and an existing Bank of America call center for its credit card division in suburban Westerville. Within a year of entering Ohio, Columbus quickly saw the bank become the 5th largest in the market by deposits, behind only banks either based in Ohio (Fifth Third Bank and locally-based Huntington Bancshares) or have a major presence as a result of an acquisition of an Ohio-based institution (Chase and PNC), and ahead of US Bancorp (also with a large presence due to acquiring an Ohio-based bank), Ohio-based KeyBank, and several local institutions.[112] As of 2021, Bank of America is the 9th largest bank by deposits in all of Ohio.[113]

Operations[edit]

Bank of America generates 90% of its revenues in its domestic market. 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.[114]

Consumer Banking[edit]

Consumer Banking, the largest division in the company, provides financial services to consumers and small businesses including, banking, investments, and lending products including business loans, mortgages, and credit cards. It provides stockbroker services via Merrill Edge, an electronic trading platform. The consumer banking division represented 38% of the company's total revenue in 2016.[1] The company earns revenue from interest income, service charges, and fees. The company is also a mortgage servicer. It competes primarily with the retail banking arms of America's three other megabanks: Citigroup, JPMorgan Chase, and Wells Fargo. The Consumer Banking organization includes over 4,600 retail financial centers and approximately 15,900 automated teller machines.

Bank of America is a member of the Global ATM Alliance, a joint venture of several major international banks that provides for reduced fees for consumers using their ATM card or check card at another bank within the Global ATM Alliance when traveling internationally. This feature is restricted to withdrawals using a debit card and users are still subject to foreign currency conversion fees, credit card withdrawals are still subject to cash advance fees and foreign currency conversion fees.

Global Banking[edit]

The Global Banking division provides banking services, including investment banking and lending products to businesses. It includes the businesses of Global Corporate Banking, Global Commercial Banking, Business Banking, and Global Investment Banking. The division represented 22% of the company's revenue in 2016.[1]

Before Bank of America's acquisition of Merrill Lynch, the Global Corporate and Investment Banking (GCIB) business operated as Banc of America Securities LLC. 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. 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[edit]

The Global Wealth and Investment Management (GWIM) division manages investment assets of institutions and individuals. It includes the businesses of Merrill Lynch Global Wealth Management and U.S. Trust and represented 21% of the company's total revenue in 2016.[1] It is among the 10 largest U.S. wealth managers. It has over $2.5 trillion in client balances.[1] 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.

Global Markets[edit]

The Global Markets division offers services to institutional clients, including trading in financial securities. The division provides research and other services such as market maker, and risk management using derivatives. The division represented 19% of the company's total revenues in 2016.[1]

Labor[edit]

On April 9, 2019, the company announced minimum wage will be increased beginning May 1, 2019, to $17.00 an hour until it reaches a goal of $20.00 an hour in 2021.[115]

Offices[edit]

The Bank of America principal executive offices are located in the Bank of America Corporate Center, Charlotte, North Carolina. The skyscraper is located at 100 North Tryon Street, and stands at 871 ft (265 m), having been completed in 1992.

In 2012, Bank of America cut ties to the American Legislative Exchange Council (ALEC).[116]

International offices[edit]

Bank of America's Global Corporate and Investment Banking has its U.S. headquarters in Charlotte, European headquarters in Dublin, and Asian headquarters in Hong Kong and Singapore.[117]

Corporate Governance[edit]

Charitable efforts[edit]

Bank of America volunteers at the Los Angeles LGBT pride parade in 2011

In 2007, the bank offered employees a $3,000 rebate for the purchase of hybrid vehicles. The company also provided a $1,000 rebate or a lower interest rate for customers whose homes qualified as energy efficient.[119] 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.[120] In 2010, the bank completed construction of the 1 Bank of America Center in Charlotte center city. The tower, and accompanying hotel, is a LEED-certified building.[121]

Bank of America has also donated money to help health centers in Massachusetts[122] and made a $1 million donation in 2007 to help homeless shelters in Miami.[123]

In 1998, the bank made a ten-year commitment of $350 billion to provide affordable mortgages, build affordable housing, support small businesses and create jobs in disadvantaged neighborhoods.[124]

In 2004, the bank pledged $750 million over a ten-year period for community development lending and affordable housing programs.[125]

Chief Executive Officer[edit]

List of CEOs[edit]

  1. Hugh McColl (1998–2001)[126]
  2. Ken Lewis (2001–2009)[127]
  3. Brian Moynihan (2010– )[128]

CEO Pay Ratio[edit]

Pursuant to Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, publicly traded companies are required to disclose (1) the median total annual compensation of all employees other than the CEO and (2) the ratio of the CEO's annual total compensation to that of the median employee (CEO Pay Ratio).[129]

Total 2018 compensation for Brian Moynihan, CEO, amounted to $22,765,354, and total compensation of the median employee was determined to be $92,040. The resulting pay ratio is estimated to be 247:1.[130]

Lawsuits[edit]

In August 2011, Bank of America was sued for $10 billion by American International Group. Another lawsuit filed in September 2011 pertained to $57.5 billion in mortgage-backed securities Bank of America sold to Fannie Mae and Freddie Mac.[131] That December, Bank of America agreed to pay $335 million to settle a federal government claim that Countrywide Financial had discriminated against Hispanic and African-American homebuyers from 2004 to 2008, prior to being acquired by BofA.[132] In September 2012, BofA settled out of court for $2.4 billion in a class action lawsuit filed by BofA shareholders who felt they were misled about the purchase of Merrill Lynch.[133]

On February 9, 2012, it was announced that the five largest mortgage servicers (Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo) agreed to a historic settlement with the federal government and 49 states.[134] The settlement, known as the National Mortgage Settlement (NMS), required the servicers to provide about $26 billion in relief to distressed homeowners and in direct payments to the states and the federal government. This settlement amount makes the NMS the second largest civil settlement in U.S. history, only trailing the Tobacco Master Settlement Agreement.[135] The five banks were also required to comply with 305 new mortgage servicing standards. Oklahoma held out and agreed to settle with the banks separately.

On October 24, 2012, American federal prosecutors filed a $1 billion civil lawsuit against Bank of America for mortgage fraud under the False Claims Act, which provides for possible penalties of triple the damages suffered. The government asserted that Countrywide, which was acquired by Bank of America, rubber-stamped mortgage loans to risky borrowers and forced taxpayers to guarantee billions of bad loans through Fannie Mae and Freddie Mac. The suit was filed by Preet Bharara, the United States attorney in Manhattan, the inspector general of FHFA and the special inspector for the Troubled Asset Relief Program.[136] In March 2014, Bank of America settled the suit by agreeing to pay $6.3 billion to Fannie Mae and Freddie Mac and to buy back around $3.2 billion worth of mortgage bonds.[137]

In April 2014, the Consumer Financial Protection Bureau (CFPB) ordered Bank of America to provide an estimated $727 million in relief to consumers harmed by practices related to credit card add-on products. According to the Bureau, roughly 1.4 million customers were affected by deceptive marketing of add-on products, and 1.9 million customers were illegally charged for credit monitoring and reporting services they were not receiving. The deceptive marketing misconduct involved telemarketing scripts containing misstatements and off-script sales pitches made by telemarketers that were misleading and omitted pertinent information. The unfair billing practices involved billing customers for privacy-related products without having the authorization necessary to perform the credit monitoring and credit report retrieval services. As a result, the company billed customers for services they did not receive, unfairly charged consumers for interest and fees, illegally charged approximately 1.9 million accounts, and failed to provide the product benefit.[138]

A $7.5 million settlement was reached in April 2014 with former chief financial officer for Bank of America, Joe L. Price, over allegations that the bank's management withheld material information related to its 2008 merger with Merrill Lynch.[139] In August 2014, the United States Department of Justice and the bank agreed to a $16.65 billion agreement over the sale of risky, mortgage-backed securities before the Great Recession; the loans behind the securities were transferred to the company when it acquired banks such as Merrill Lynch and Countrywide in 2008.[140] As a whole, the three firms provided $965 billion of mortgage-backed securities from 2004 to 2008.[141] The settlement was structured to give $7 billion in consumer relief and $9.65 billion in penalty payments to the federal government and state governments; California, for instance, received $300 million to recompense public pension funds.[140][142] The settlement was the largest in United States history between a single company and the federal government.[143][144]

In 2018, former senior executive Omeed Malik filed a $100 million arbitration case through FINRA against Bank of America after the company investigated him for alleged sexual misconduct.[145] His defamation claim was on the basis of retaliation, breach of contract, and discrimination against his Muslim background.[146] Malik received an eight-figure settlement in July.[147][148]

Controversies[edit]

Parmalat controversy[edit]

Parmalat SpA is a multinational Italian dairy and food corporation. 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.[149][150] 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. In Parma, the banks were still charged with covering up the fraud.[151]

Consumer credit controversies[edit]

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.[152][153] 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.[154][155][156] 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.[157]

Purchasing of 300 Internet Domains in apparent premtive PR campaign.[edit]

In October 2009, Julian Assange of WikiLeaks claimed 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.[158]

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".[159] In response to this announcement, Bank of America stock dropped 3.2%.[160]

In December 2010, Bank of America announced that it would no longer service requests to transfer funds to WikiLeaks,[161] 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."[162]

Later in December, it was announced that Bank of America purchased more than 300 Internet domain names in an attempt to preempt bad publicity that might be forthcoming in the anticipated WikiLeaks release. The domain names included as BrianMoynihanBlows.com, BrianMoynihanSucks.com and similar names for other top executives of the bank.[163][164][165][166]

Sometime before August 2011, WikiLeaks claimed that 5 GB of Bank of America leaks was part of the deletion of over 3500 communications by Daniel Domscheit-Berg, a now ex-WikiLeaks volunteer.

Settled $228 million lawsuit claiming involvement in kickbacks and inflating insurance costs forced on homeowners.[169][edit]

On March 14, 2011, members of hacker group Anonymous began releasing emails said to be from a former Bank of America employee. According to the group, the emails documented alleged "corruption and fraud". The source, identified publicly as Brian Penny,[170] was 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.[171]

On April 7, 2014, Bank of America and QBE settled a class-action lawsuit stemming from the leak for $228 million.[172]

"Repeatedly has deceived" Mortgagors, and Then "impeding" Investigation - said State of Arizona[edit]

In 2010 the state of Arizona launched an investigation into Bank of America for misleading homeowners who sought to modify their mortgage loans. 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 remove some information criticizing the bank online.[173]

Investment in coal mining[edit]

On May 6, 2015, Bank of America announced it would reduce its financial exposure to coal companies. The announcement came following pressure from universities and environmental groups. The new policy was announced as part of the bank's decision to continue to reduce credit exposure over time to the coal mining sector.

Competition[edit]

Bank of America's major competitors are Wells Fargo, Santander, PNC Financial Services, Ally Financial, Capital One, Chase Bank, US Bank, Citizens Financial Group, Citigroup and M&T Bank.

Notable buildings[edit]

Notable buildings which Bank of America currently occupies include:

  • Bank of America Tower in Phoenix, Arizona
  • Bank of America Center in Los Angeles, California
  • Transamerica Pyramid, in San Francisco
  • 555 California Street, formerly the Bank of America Center and world headquarters, in San Francisco, California
  • Bank of America Plaza in Fort Lauderdale, Florida
  • Bank of America Tower in Jacksonville, Florida
  • Bank of America Financial Center (Brickell) and Bank of America Museum Tower (Downtown Miami) in Miami, Florida
  • Bank of America Center in Orlando, Florida
  • Bank of America Tower in St. Petersburg, Florida
  • Bank of America Plaza in Tampa, Florida
  • Bank of America Plaza in Atlanta, Georgia
  • Bank of America Building, formerly the LaSalle Bank Building in Chicago, Illinois
  • One City Center, often called the Bank of America building due to signage rights, in Portland, Maine
  • Bank of America Building in Baltimore, Maryland
  • Bank of America Plaza in St Louis, Missouri
  • Bank of America Tower in Albuquerque, New Mexico
  • Bank of America Tower in New York City
  • Bank of America Corporate Center in Charlotte, North Carolina (the corporate headquarters)
  • Bank of America Plaza in Charlotte, North Carolina
  • Bank of America Tower in Charlotte, North Carolina
  • Hearst Tower in Charlotte, North Carolina
  • Bank of America Plaza in Dallas, Texas
  • Bank of America Tower in Midland, Texas
  • Bank of America Plaza in San Antonio, Texas
  • Bank of America Fifth Avenue Plaza in Seattle, Washington
  • Columbia Center in Seattle, Washington
  • Bank of America Tower in Hong Kong
  • City Place I, also known as United Healthcare Center, in Hartford, Connecticut (the tallest building in Connecticut)
  • 9454 Wilshire Boulevard in Beverly Hills, California

Former buildings[edit]

The Robert B. Atwood Building in Anchorage, Alaska, was at one time named the Bank of America Center, renamed in conjunction with the bank's acquisition of building tenant Security Pacific Bank. This particular branch was later acquired by Alaska-based Northrim Bank and moved across the street to the Linny Pacillo Parking Garage.

The Bank of America Building (Providence) opened in 1928 as the Industrial Trust Building and remains the tallest building in Rhode Island. Through a number of mergers it was later known as the Industrial National Bank building and the Fleet Bank building. The building was leased by Bank of America from 2004 to 2012 and has been vacant since March 2013. The building is commonly known as the Superman Building based on a popular belief that it was the model for the Daily Planet building in the Superman comic books.

The Miami Tower iconic in its appearance in Miami Vice was known as the Bank of America Tower for many years. It is located in Downtown Miami. On April 18, 2012, the AIA's Florida Chapter placed it on its list of Florida Architecture: 100 Years. 100 Places as the Bank of America Tower.[175]

TC Energy Center in Houston, Texas, was previously known as Bank of America Center until Bank of America ended its tenancy in the building in June 2019. Designed in the postmodern architecture style by renowned architect Philip Johnson, the building has been one of the most iconic and recognizable landmarks of the downtown Houston skyline since it was completed in 1983.[176]

See also[edit]

References[edit]

  1. ^ abcdefghijkl"Bank of America Corporation 2020 Annual Report (Form 10-K)"(PDF). sec.gov. U.S. Securities and Exchange Commission. February 2018. Archived from the original on March 3, 2018. Retrieved April 2, 2020.
  2. ^"2020 Proxy Statement – Bank of America Corporation". Bank of America. Retrieved December 21, 2020.
  3. ^"Warren Buffett pumps another $400 million into Bank of America, boosting his stock purchases to $1.2 billion in 8 days. This move by Buffett came right before the Ripple partnership announcement". Markets Insider. Retrieved July 28, 2020.
  4. ^ONeil, Erin (August 2, 2016). "The Biggest Banks in the United States". The Balance.
  5. ^"Who Made America? – Innovators – A.P. Giannini". PBS.org. Archived from the original on January 7, 2010. Retrieved December 17, 2009.
  6. ^ abCohan, William D. (September 2009), "An offer he couldn't refuse", The Atlantic
  7. ^Team, Trefis (June 14, 2018). "Five Largest U.S. Investment Banks Have Over $1.5 Trillion In Securities Trading Assets". Forbes. Archived from the original on August 19, 2018. Retrieved August 17, 2018.
  8. ^Shelby-Green, Michael (June 11, 2018). "The 15 biggest wealth managers in the world". Business Insider. Archived from the original on August 19, 2018. Retrieved August 11, 2018.
  9. ^B of A has operations (for example, Merrill Lynch offices), but no retail branches in Alabama, Alaska, Hawaii, Louisiana, Mississippi, Montana, Nebraska, North Dakota, South Dakota, Vermont, West Virginia, Wisconsin, or Wyoming. Bank of America Branches and ATMsArchived July 1, 2014, at the Wayback Machine. Click "Browse locations by state." © 2014 Bank of America Corporation. Retrieved June 30, 2014.
  10. ^"Bank of America on the Forbes Global 2000 List". Forbes. Archived from the original on July 28, 2018. Retrieved August 11, 2018.
  11. ^"Fortune 500 Companies 2020: Who Made the List". Fortune. Archived from the original on November 10, 2018. Retrieved January 2, 2021.
  12. ^"World's best bank 2018: Bank of America". Euromoney. July 11, 2018. Archived from the original on August 19, 2018. Retrieved August 10, 2018.
  13. ^ ab"Bank of America

    Black-Owned Banks by State

    Ever since the founding of the Bank of North America in 1781, banking has played a critical role in facilitating the American Dream. These institutions provide indispensable monetary services, ranging from accepting deposits to offering loans. Credit is king in the United States, and without high-quality financial institutions, countless Americans would struggle to acquire vehicles, housing, and other essential items.

    However, like pretty much all of the nation’s older institutions, banks have also played a significant part in America’s racist past. Racial discrimination in the banking industry and financial system has targeted African Americans, and challenges ending discrimination persist today. Black-owned banks arose as an alternative to larger institutions to provide greater access to banking services as well as an opportunity to support local communities.

    According to the Federal Deposit Insurance Corporation, a Minority Depository Institution (MDI) is “...a federal insured depository institution for which (1) 51 percent or more of the voting stock is owned by minority individuals; or (2) a majority of the board of directors is minority and the community that the institution serves is predominantly minority. Ownership must be by U.S. citizens or permanent legal U.S. residents to be counted in determining minority ownership.” Of the 22 Black-owned banks featured in this article, two fall into the latter category.

    For the purposes of this article, Black-owned and managed credit unions that serve the Black community have been included to provide the most complete picture of America’s Black financial institutions. The article uses the term “Black-owned” in this broad sense, recognizing that stockholders own for-profit banks and members own credit unions.

    Key Takeaways

    • Today—including credit unions—there are 44 Black-owned financial institutions in the United States. Taken together, they have approximately $6.82 billion in assets in total.
    • Black-owned banks provide customers not just access to the financial resources they need, but the chance to invest in the financial health and well-being of their community.
    • Black-owned banks also play a critical role in fighting modern-day systemic racism in the financial sector.
    • Critics of Black-owned for-profit banks have posited that true financial justice requires institutions, such as not-for-profit credit unions, that are separate from a financial system rooted in racism and exploitation.
    • Of the 44 Black-owned financial institutions in the country, 22 are not-for-profit credit unions.

    Background and History of Black-Owned Banks

    Black-owned banks didn’t exist until more than a century after the Bank of North America first opened its doors. Prior to the chartering of the first Black-owned bank in 1888, Congress and President Lincoln established the Freedman’s Savings Bank in 1865. As part of the Freedman’s Bureau, this institution was designed to help newly freed African Americans navigate the U.S. financial system.

    Despite Congress voting to close the Freedman’s Bureau in 1872, the bank continued to operate. In 1874, Frederick Douglass took over as the bank’s D.C. branch director, and he found the place to be rife with corruption and risky investments. Despite Douglass investing $10,000 of his own money in the bank in an attempt to save it, Freedman’s Savings went bankrupt later that same year. Although the Freedman’s Savings Bank doesn’t fit the modern criteria of a Black-owned bank, it represents a critical first step.

    The first officially chartered Black-owned bank, the True Reformers Bank, was founded on March 2, 1888, by the Rev. William Washington Browne. A former slave and Union Army officer, Browne was founder of the Grand Fountain United Order of True Reformers fraternal organization. The True Reformers Bank came about when Browne and his organization faced financial hardships while trying to establish a new branch in Virginia. Unable to manage the order’s money without arousing suspicion from paranoid and prejudiced locals, Browne founded the True Reformers Bank so that the organization’s finances would be free of scrutiny from white people.

    The bank opened its doors in 1889 and went from a small operation in Browne’s house to an institution strong enough to survive the financial panic of 1893. Although the True Reformers Bank continued to operate after Browne’s death in 1897, problems were beginning to develop by 1900. Under its new president, the Rev. William Lee Taylor, branches were poorly regulated, unsecured loans were made, and an embezzlement scandal cost most account holders their savings. By 1910, the State Corporation Commission had ordered the bank to be closed.

    As the story of the True Reformers Bank was playing out, other Black-owned banks were also getting their start in the U.S. The Capitol Savings Bank of Washington, D.C., opened its doors on Oct. 17, 1888, roughly six months before the True Reformers Bank. Capitol Savings also managed to survive the financial panic of 1893, though it later closed in 1902.

    Between 1888 and 1934, more than 134 Black-owned financial institutions were founded, predominantly located in Southern states. Their numbers dwindled during the Great Depression, leaving nine by 1930. It wasn’t until the civil rights movement that a resurgence took place, raising their numbers to 50 by 1976.

    By 1988, the savings and loan crisis had wiped out 35 Black-owned banks. The start of the most recent decline came in 2001, during the early 2000s recession, which rapidly accelerated once the Great Recession began. There are 44 Black-owned financial institutions, including credit unions, left today.

    “You can’t separate Black history from American history,” says Tyrone Ross, community director of Altruist, a software platform provider for financial advisors. “We’ve always been well adept and versed in financial education and the ability to be entrepreneurs. It’s just been stripped from us. So it’s OK to write these articles—or have panels or whatever—but let’s start with the history first so people go, ‘Oh, crap. It really was stripped from them, and they’re just trying to get it back.’”

    Modern-Day Discrimination

    In 2016, the net worth of a white family was nearly 10 times higher on average than that of a Black family. This is a result of inequality, discrimination, racism, and differences in power and opportunity compounding throughout America’s history. It also is why the diminishing number of Black-owned banks is especially of concern, given the role these institutions play in fighting modern-day systemic racism in the financial sector.

    Consider redlining. This unethical and now illegal practice is used to block off access to important services for residents of certain neighborhoods based on their race or ethnicity. The Civil Rights Act of 1964, which prohibits discrimination on the basis of race, color, religion, sex, and national origin, was a start. And yet, although the Fair Housing Act of 1968 and the Community Reinvestment Act (CRA) of 1977 were both intended to eliminate redlining, this kind of discrimination is still seen today.

    For instance, 68.1% of loans made between 2012 and 2018 for housing purchases in Chicago went to predominantly white areas; 8.1% went to predominantly Black areas. Banks also lent more money to predominantly white neighborhoods than they did to every predominantly Black neighborhood combined. This disparity is even starker when looking at individual lenders, with JPMorgan Chase lending 41 times more money in white neighborhoods than Black ones.

    Chicago is far from the only place where redlining occurs. In 2018, people of color in 61 cities were more likely to be denied home loans than white residents. And if homeowners aren’t moving into—and investing in—a neighborhood, it means capital isn’t flowing into the community, which leads to poverty and crime having an inescapable presence in the area.

    “One in five Black Americans now is unbanked. When you look at our poverty rates, our lack of ownership, lack of home ownership, that all goes back to economic empowerment,” Ross explains. “Economic empowerment starts with banking.”

    The Importance of Black-Owned Banks

    To understand why Black-owned banks matter, it’s critical to recognize the role banks play in financial life. A common service banks provide is access to a checking account, allowing for the safe storage of an individual’s funds, typically in exchange for a minimal fee. In addition to accepting monetary deposits, banks also furnish loans for both individuals and businesses looking to finance crucial purchases. Banks also offer mortgages for real estate purchases. Many banks issue credit cards, which are valuable tools for building the credit history necessary to receive most loans.

    Outside of providing financial services, a number of banks have also launched programs on financial literacy for low- and moderate-income communities. It’s difficult, if not impossible, to imagine thriving in the modern economy without taking advantage of the aid that a bank can provide. And if access to these types of services is constantly denied to certain groups, it’s easy to see how these groups may face more financial difficulties than others.

    Black-owned banks offer an alternative for residents who have been consistently discriminated against by other financial institutions. They have typically provided more money to borrowers living in low- and moderate-income (LMI) census tracts in the last 14 years than other banks. Black-owned banks are also more willing to tolerate higher levels of risk than alternative institutions. Our research found that in 2016, 67% of mortgages made by Black-owned banks were either FHA mortgages—which typically serve riskier borrowers—or mortgages held “in portfolio,” meaning they are liable to the risk of the borrower defaulting.

    Additionally, Black-owned banks tend to focus their lending on small businesses, nonprofits, and Black homebuyers. As of 2018, all Black-owned banks are community banks; these institutions are dedicated to supporting the economies of the communities in which they serve. Even during difficult times, Black-owned banks have stuck by their customers. During the 2007–2008 financial crisis, despite a 69% drop in all mortgage lending to Black borrowers, the number of mortgages that Black-owned banks provided rose 57%.

    “So there’s lack of lending, there’s lack of funding, there’s lack of access to the ability to acquire assets and build wealth,” says Ross. “The Black community has for years been afraid of banking with traditional institutions. A lot of them live in banking deserts where there are no banks, which is also why you have credit unions, check cashing places, and payday loans.”

    Without Black-owned banks, countless vulnerable consumers could be forced to rely on high-interest loans from pawn shops and payday lenders for their financing. What’s more, Black-owned banks provide customers not just access to the financial resources they need, but the chance to invest in the financial health and wellbeing of their community and fellow Americans.

    “I think we have a responsibility now to realize that—if you really want to be grassroots, and you really want to help Black Americans—get that money in Black banks and then have those Black banks fund the people,” Ross says.

    Other Alternatives for Community Funding

    Not everyone sees Black-owned, for-profit banks as the solution. Critics argue that true financial justice requires institutions that are entirely separate from a financial system rooted in racism and exploitation.

    “I’ve been very critical of for-profit Black banks and the capitalist logic that governs them,” says Prof. Guy Mount, assistant professor of African American history at Auburn University. “In my opinion, member-owned credit unions and nonprofit co-ops are the way forward for Black communities hoping to not only survive within capitalism, but build a viable Black economic alternative to it.” In fact, that choice is currently available to consumers. Of the 44 Black-owned financial institutions in the U.S.—all listed below—21 are credit unions.

    Other critics have taken this concept even further. In The Color of Money: Black Banks and the Racial Wealth Gap, Mehrsa Baradaran, professor of law at the University of California Irvine School of Law, posits that those in power have pushed the idea of Black-owned banks as a diversionary tactic whenever the African American community demanded more direct solutions to the racial wealth gap. For instance, although the Freedman’s Bank remains a critical facet of Black history, the Freedman’s Bureau originally proposed providing newly freed slaves with an allotment of land—they received a bank instead.

    More recently, when civil rights leaders began calling for a redistribution of wealth, President Richard Nixon co-opted the rhetoric of that same movement to create a civil rights platform centered around “Black capitalism.” He wasn’t the only president to support the idea of banking over financial support. President Bill Clinton introduced legislation with the aim of promoting “community empowerment” via banking. Across party lines, Presidents George W. Bush and Barack Obama supported and upheld Clinton’s infrastructure. Former President Donald Trump had also made similar promises during his time in office.

    Baradaran further argues that—as it is nearly impossible for a segregated community to keep its wealth entirely self-contained—Black-owned banks may actually facilitate the flow of money out of African American communities and into the white economy.

    Prof. Mount sees it the same way, “By emerging themselves within a white-governed capitalist marketplace, Black banks are facilitating the very extraction of wealth from the communities they purport to serve,” he says.

    Black-Owned Banks: State-by-State Breakdown

    While the number of Black-owned financial institutions may have declined from their peak, they cumulatively have a not-insignificant presence. According to Bank Black USA, historical Black-owned bank assets have totaled over $7.6 billion. As of Feb. 4, 2021, the 41 Black-owned banks and credit unions in the U.S. have approximately $6.82 billion in assets. And although 28 states have no Black-owned financial institutions within their borders, several organizations have a presence across the U.S. because of their partnerships with major ATM networks. Additionally, of the 41 Black-owned financial institutions in the country, half are not-for-profit credit unions.

    The majority of Black-owned institutions offer both traditional brick-and-mortar branches and online/mobile services. Even OneUnited Bank, originally an Internet-only bank, now has multiple physical locations across the U.S. Ensuring online accessibility is a smart move considering that, in 2017, approximately 17.7% of African-American consumers were more likely to use mobile banking as their primary method of accessing their accounts. Currently, Columbia Savings and Loan is the sole institution without any online or mobile banking services.

    Below: a list of Black-owned banks and credit unions in the U.S., in alphabetical order.

    1st Choice Credit Union

    Founded in 1946, the Hospital Authority Credit Union was created to provide financial services to employees of Grady Hospital. In 1991, the organization became known as 1st Choice Credit Union.

    • Branches: Auburn Avenue Administrative Office (Atlanta, Ga.) and Grady Memorial Hospital (Atlanta, Ga.)
    • ATMs: Crestview Health & Rehabilitation Center (Atlanta, Ga.) and Ponce De Leon Center (Atlanta, Ga.)
    • States: Georgia
    • Services: Personal and business checking and savings, in addition to loans (personal, mortgage, etc.)
    • Assets: $30.77 million
    • Availability: Brick-and-mortar and online

    Alamerica Bank

    Alamerica Bank was originally organized by a group of prominent Birmingham, Ala., community leaders on Jan. 28, 2000. Alamerica achieved operational profitability after six months of operation.

    • Branches: The Alamerica Bank Building (Birmingham, Ala.)
    • ATMs: N/A
    • States: Alabama
    • Services: Deposit services (business and personal accounts), loan services (commercial and personal loans), Internet banking, image statements, and MasterMoney debit cards
    • Assets: $15.36 million
    • Availability: Brick-and-mortar and online

    Broadway Federal Bank

    The Broadway Federal Bank is a subsidiary of Broadway Financial Corporation, a bank holding company located in Los Angeles, Calif. Formerly known as the Broadway Federal Savings and Loan Association, founded in 1946, the original building was destroyed by a fire on April 30, 1992. In December 1995, the organization was converted from a federally chartered mutual savings association to a federally chartered stock savings bank, hence the new name.

    • Branches: Mid-Wilshire Branch (Los Angeles, Calif.), Inglewood Branch (Inglewood, Calif.), and Exposition Park Branch (Los Angeles, Calif.)
    • ATMs: Part of the MoneyPass network
    • States: California
    • Services: Personal and business accounts, credit cards, and loan products
    • Assets: $497.03 million
    • Availability: Brick-and-mortar and online

    Brookland Federal Credit Union

    Founded in 1999, the Brookland Federal Credit Union is a not-for-profit financial cooperative that provides financial services to members of Brookland Baptist Church and their immediate family members. If you join Brookland Federal, you and your family have a lifetime membership.

    • Branches: Brookland Federal Credit Union (West Columbia, S.C.)
    • ATMs: N/A
    • States: South Carolina
    • Services: Savings, checking, loans, and other services (financial literacy, guaranteed auto protection, etc.)
    • Assets: $3.40 million
    • Availability: Brick-and-mortar and online

    Carver Federal Savings Bank

    The Carver Federal Savings Bank was founded in 1948 to serve African American communities with limited access to mainstream financial services. The majority of its branches and ATMs are located in low- to moderate-income neighborhoods. Carver Federal Savings Bank is one of the two banks that are considered “Black-operated” instead of Black-owned.

    • Branches: Atlantic Terminal Branch (Brooklyn, N.Y.), Bedford-Stuyvesant — Restoration Plaza Branch (Brooklyn, N.Y.), Crown Heights Branch (Brooklyn, N.Y.), Flatbush Branch (Brooklyn, N.Y.), and St Albans Branch (Jamaica, N.Y.), 125th Street Branch (New York City, N.Y.), and Malcolm X Boulevard Branch (New York City, N.Y.)
    • ATMs: Malcolm X Boulevard Branch (Brooklyn, N.Y.) and 125th Street Branch (New York City, N.Y.)
    • States: New York
    • Services: Personal and business banking, loans, and community cash
    • Assets: $673.05 million
    • Availability: Brick-and-mortar and online

    Carver State Bank

    Established on Feb. 23, 1927, the Georgia Savings and Realty Corporation was a small, private bank as well as a real estate investment and management company. In 1947, the original institution was converted to a state bank and became known as the Carver Savings Bank. By 1962, Carver had become a full-service commercial bank, thus its name was changed once more to the Carver State Bank.

    • Branches: Main Office (Savannah, Ga.) and Skidaway Branch (Savannah, Ga.)
    • ATMs: Main Office (Savannah, Ga.), Skidaway Branch (Savannah, Ga.), and Hilton Head International Airport (Savannah, Ga.)
    • States: Georgia
    • Services: Personal accounts (checking and savings), business accounts, loans, development programs, and other services (cashier’s checks, money orders, etc.)
    • Assets: $48.39 million
    • Availability: Brick-and-mortar and online

    Citizens Bank

    In 1904, the One Cent Savings Bank became the first minority-owned bank in Tennessee. The institution’s name was changed to the Citizens Savings Bank & Trust Co. in 1920. Citizens Bank is the oldest, continuously operating Black-owned bank in the U.S.

    • Branches: Memphis Winchester Road Branch (Memphis, Tenn.) and Main Office (Nashville, Tenn.)
    • ATMs: Main Office (Nashville, Tenn.)
    • States: Tennessee
    • Services: Personal and business banking (checking and savings), credit cards, and loans (personal, business, etc.)
    • Assets: $100 million
    • Availability: Brick-and-mortar and online

    Citizens Trust Bank

    In 1921, the Citizens Trust Bank was created to serve the African American citizens of Atlanta. Today, the bank plays an active role in providing sponsorship support for multiple community organizations.

    • Branches: Birmingham (Birmingham, Ala.), Eutaw Branch (Eutaw, Ala.), Cascade Branch (Atlanta, Ga.), Corporate Headquarters (Atlanta, Ga.), Westside Branch (Atlanta, Ga.), East Point Branch (East Point, Ga.), and Rockbridge Branch (Stone Mountain, Ga.)
    • ATMs: Castleberry Inn ATM (Atlanta, Ga.), Westside ATM (Atlanta, Ga.), South Dekalb Mall ATM (Decatur, Ga.), Lithonia ATM (Lithonia, Ga.), Rockbridge Plaza ATM (Stone Mountain, Ga.), Stone Mountain ATM (Stone Mountain, Ga.), and Panola ATM (Stonecrest, Ga.)
    • States: Alabama and Georgia
    • Services: Banking (savings, checking, etc.) and borrowing (loans, credit cards, etc.) services 
    • Assets: $536.65 million
    • Availability: Online and brick-and-mortar

    Columbia Savings & Loan

    Columbia Savings & Loan has served Milwaukee’s inner city, particularly its minority population, since 1924.

    • Branches: Columbia Savings & Loan Association (Milwaukee, Wis.)
    • ATMs: N/A
    • States: Wisconsin
    • Services: Mortgages, church loans, and CDs/IRAs
    • Assets: $24.41 million
    • Availability: Brick-and-mortar only

    Commonwealth National Bank

    Founded in 1976, the Commonwealth National Bank is a full-service nationally chartered commercial institution. Commonwealth is the sole bank headquartered in Mobile, out of the 45 banks doing business there. In addition to being the only Minority Depository Institution (MDI) in Mobile, it is one of two in Alabama.

    • Branches: Main Office Branch (Mobile, Ala.) and Crichton Branch (Mobile, Ala.)
    • ATMs: Main Office Branch (Mobile, Ala.), Crichton Branch (Mobile, Ala.), any Publix Super Market ATM, and any PNC Bank ATM
    • States: Alabama
    • Services: Consumer and business services, in addition to loans
    • Assets: $55.06 million
    • Availability: Brick-and-mortar and online

    Community Owned Federal Credit Union

    In 1966, the Community Owned Federal Credit Union was founded to provide low-income communities in Johns Island and part of Charleston with financial services typically denied to them by mainstream institutions. Membership has since grown to include the entire Charleston area.

    • Branches: Community Owned Federal Credit Union (Charleston, S.C.)
    • ATMs: N/A
    • States: South Carolina
    • Services: Primary savings account, loans, and other services (direct and payroll deposit, in addition to credit workshops)
    • Assets: $6.54 million
    • Availability: Brick-and-mortar and online

    Credit Union of Atlanta

    Founded in 1928, the Credit Union of Atlanta remained stable and secure throughout the Great Depression. Any profits earned are used to secure better rates for the institution’s members.

    • Branches: Main Office (Atlanta, Ga.) and Pryor Street Lending Center (Atlanta, Ga.)
    • ATMs: Atlanta Detention Center (Atlanta, Ga.), Atlanta Public Safety Annex (Atlanta, Ga.), Credit Union of Atlanta (Atlanta, Ga.), and Pryor Street Lending Center (Atlanta, Ga.), in addition to any ATMs in the MoneyPass and STAR networks
    • States: Georgia
    • Services: Personal savings and checking, business checking, credit builder and personal loans, and payment protection
    • Assets: $77.91 million
    • Availability: Brick-and-mortar and online

    Faith Community United Credit Union

    Originally chartered in 1952 as Second Mount Sinai Baptist Church Credit Union, Faith Community United Credit Union became a Community Development Credit Union (CDCU) in 1991. Faith is one of the largest minority-owned Credit Unions in Ohio, and it is available to anyone who lives, works, worships, or attend school in Cuyahoga County as well as their family, business, and organization. Membership is also possible through a Select Employee Group (SEG).

    • Branches: Faith Community United Credit Union (Cleveland, Ohio)
    • ATMs: N/A
    • States: Ohio
    • Services: Deposit services, loan services, insurance, and other services
    • Assets: $18.01 million
    • Availability: Brick-and-mortar and online

    Faith Cooperative Credit Union

    The story of the Faith Cooperative Credit Union is a tale of two different organizations. St. John Federal Credit Union was founded in 1959. It became known as the Faith Cooperative Credit Union after it was integrated with the Friendship-West Baptist Church’s vision of a microloan bank.

    • Branches: Administrative Offices (Dallas, Texas)
    • ATMs: One located “near the Banquet Hall”
    • States: Texas
    • Services: Savings, loans, and gap protection
    • Assets: $1.67 million
    • Availability: Brick-and-mortar and online

    FAMU Federal Credit Union

    On May 8, 1935, six individuals were convinced to deposit $50 to acquire a federal credit union charter, resulting in the founding of the Florida A&M College Employees Federal Credit Union. By 1953, the organization renamed to Florida A&M University Federal Credit Union due to its location on the FAMU campus.

    • Branches: Office (Tallahassee, Fla.)
    • ATMs: One located in the “first drive-thru lane”as well asany ATMs that are part of the American Express, CULIANCE, The Exchange, Honors, Member Access, Plus, Presto, Publix, Walmart, and “other Credit Unions with the participating listed networks”
    • States: Florida
    • Services: Accounts (checking, savings, IRA), Rattler debit and VISA credit cards, loans, wire transfers, and other services (notary services, bill payments, etc.)
    • Assets: $22.85 million
    • Availability: Brick-and-mortar and online

    First Independence Bank

    In business since May 11, 1970, the First Independence Bank has served the Detroit Metropolitan area for 50 years. First Independence is the sole African American‐owned bank headquartered in Michigan, in addition to being one of two banks headquartered in Detroit.

    • Branches: Clinton Township Branch (Clinton Township, Mich.), Main Office Branch (Detroit, Mich.), and Seven Mile Branch (Detroit, Mich.)
    • ATMs: Garfield Branch (Clinton Township, Mich.), 1st Floor International Building (Detroit, Mich.), City County Building (Detroit, Mich.), Livernois (Detroit, Mich.), and Main Office Branch (Detroit, Mich.), Seven Mile Branch (Detroit, Mich.), in addition to “any nationwide ... Fifth Third, TCF, or Chemical Bank ATM ... in the Metro Detroit area”
    • States: Michigan
    • Services: Consumer and business services, in addition to loans
    • Assets: $290.57 million
    • Availability: Brick-and-mortar and online

    First Legacy Community Credit Union

    The School Workers Federal Credit Union was founded by a group of educators in Feb. 14, 1941. On Jan. 1, 2020, First Legacy Community Credit Union merged with the Self-Help Federal Credit Union and now operates as a division of Self-Help.

    • Branches: First Legacy Community Credit Union (Charlotte, N.C.)
    • ATMs: Part of the CO-OP/Covera ATM network
    • States: North Carolina
    • Services: Checking, savings, loans, and other services
    • Assets: $29.33 million
    • Availability: Brick-and-mortar and online

    First Security Bank

    The Security Trust and Savings Bank first opened for business in 1903. Twenty-six years later, it merged with the First National Bank of Charles City, creating the First Security Bank & Trust.

    • Branches: Aredale (Aredale, Iowa), Charles City Branch (Charles City, Iowa), Dumont Branch (Dumont, Iowa), Hampton Branch (Hampton, Iowa), Ionia Branch (Ionia, Iowa), Manly Branch (Manly, Iowa), Marble Rock Branch (Marble Rock, Iowa), Nora Springs Branch (Nora Springs, Iowa), Riceville Branch (Riceville, Iowa), Rockford Branch (Rockford, Iowa), Rockwell Branch (Rockwell, Iowa), Rudd Branch (Rudd, Iowa), and Thornton Branch (Thornton, Iowa)
    • ATMs: Charles City Branch (Charles City, Iowa), Manly Branch (Manly, Iowa), Marble Rock Branch (Marble Rock, Iowa), Nora Springs Branch (Nora Springs, Iowa), Riceville Branch (Riceville, Iowa), Rockford Branch (Rockford, Iowa), Rockwell Branch (Rockwell, Iowa), and Thornton Branch (Thornton, Iowa)
    • States: Iowa
    • Services: Personal (checking, savings, etc.), business (checking, savings, etc.), and lending (personal and auto loans, mortgage and home equity, etc.)
    • Assets: $564.98 million
    • Availability: Brick-and-mortar and online

    GN Bank

    In 1934—after working closely with the Federal Home Loan Bank of Chicago—13 African American men founded Illinois Service Federal to provide a savings and loan association for Black Chicagoans. The institution was acquired by Groupe Ndoum in 2016, which led to its name change to GN Bank in 2018.

    • Branches: Main Branch (Chicago, Ill.) and Chatham Office (Chicago, Ill.)
    • ATMs: Main Branch (Chicago, Ill.) and Chatham Office (Chicago, Ill.), in addition to any ATMs in the STAR network
    • States: Illinois
    • Services: Personal (checking, savings, and credit cards) and small business services (checking, lending, credit cards)
    • Assets: $133 million
    • Availability: Brick-and-mortar and online

    Greater Kinston Credit Union

    The Greater Kinston Credit Union was founded in 1952 and provides a variety of loans and deposit accounts. People who live, work, worship, or attend functions in Lenoir, Greene, Jones, Craven, and Pitt counties are eligible for membership.

    • Branches: Branch Office (Kinston, N.C.)
    • ATMs: Part of the CashPoints network
    • States: North Carolina
    • Services: Debit and credit cards; deposit (checking, savings, etc.), nonprofit, and youth accounts; mortgage and personal lending; and other services (automated services, branch services, etc.)
    • Assets: $12.91 million
    • Availability: Brick-and-mortar and online

    Hill District Federal Credit Union

    The Hill District Federal Credit Union got its start in 1970 and has provided financial services to its members for 50 years. People who live, work, or worship in the Hill District—as well as members of an organization that provides economic assistance in the same area—are eligible to join this institution.

    • Branches: Hill District Federal Credit Union (Pittsburgh, Pa.)
    • ATMs: N/A
    • States: Pennsylvania
    • Services: Debit and gift cards, savings, checking, loans, other services (money orders, financial literacy classes, etc.)
    • Assets: $7.79 million
    • Availability: Brick-and-mortar and online

    Hope Credit Union

    In 1995, members of the Anderson United Methodist Church organized the Hope Federal Credit Union to help low-income Jackson, Miss., residents with asset development, cooperation, and self-empowerment. Hope has since spread across the Deep South through its sponsors and by merging with other financial organizations, with the most recent being the Tri-Rivers Federal Credit Union in 2007. In June 2020, Netflix invested $10 million into Hope as part of its $100 million initiative to support economic opportunities for Black communities.

    • Branches: ArbaStreet Branch (Montgomery, Ala.), McGehee Road Branch (Montgomery, Ala.), College Station Branch (College Station, Ark.), Little Rock Branch (Little Rock, Ark.), Pine Bluff Branch (Pine Bluff, Ark.), West Memphis Branch (West Memphis, Ark.), Central City Branch (New Orleans, La.), Elysian Fields Branch (New Orleans, La.), Michoud Assembly Facility Branch (New Orleans, La.), Mississippi Coast Branch (Biloxi, Miss.), Drew Branch (Drew, Miss.), Greenville Branch (Greenville, Miss.), Itta Bena Branch (Itta Bena, Miss.), Medical Mall Branch (Jackson, Miss.), University Boulevard Branch (Jackson, Miss.), Louisville Branch (Louisville, Miss.), Macon Branch (Macon, Miss.), Moorhead Branch (Moorhead, Miss.), Robinsonville Branch (Robinsonville, Miss.), Shaw Branch (Shaw, Miss.), Terry MS Branch (Terry, Miss.), Utica Branch (Utica, Miss.), West Point Branch (West Point, Miss.), Jackson Branch (Jackson, Tenn.), Crosstown Branch (Memphis, Tenn.), Harvester Lane Branch (Memphis, Tenn.), Madison Avenue Branch (Memphis, Tenn.), and Ridgeway Branch (Memphis, Tenn.), in addition to any credit unions in the Shared Branching network.
    • ATMs: Pine Bluff Branch (Pine Bluff, Ark.), West Memphis Branch (West Memphis, Ark.), Central City Branch (New Orleans, La.), Elysian Fields Branch (New Orleans, La.), Mississippi Coast Branch (Biloxi, Miss.), Drew Branch (Drew, Miss.), Greenville Branch (Greenville, Miss.), Medical Mall Branch (Jackson, Miss.), University Boulevard Branch (Jackson, Miss.), Robinsonville Branch (Robinsonville, Miss.), Shaw Branch (Shaw, Miss.), Terry MS Branch (Terry, Miss.), Jackson Branch (Jackson, Tenn.), Harvester Lane Branch (Memphis, Tenn.), Madison Avenue Branch (Memphis, Tenn.), and Ridgeway Branch (Memphis, Tenn.)
    • States: Alabama, Arkansas, Louisiana, Mississippi, and Tennessee
    • Services: Personal (checking and wealth-building accounts, personal loans, credit cards, etc.) and business (checking and loans) banking, in addition to transformational deposits
    • Assets: $361.29 million
    • Availability: Brick-and-mortar and online

    Howard University Employees Federal Credit Union

    Originally chartered on Oct. 11, 1935, the Howard University Employees Federal Credit Union provides financial services to employees of Howard University and their family members. Those who join Howard University Employees FCU have a lifetime membership.

    • Branches: C B Powell Building (Washington, D.C.)
    • ATMs: Part of the CO-OP and CU Here networks
    • Locations: Washington, D.C.
    • Services: Accounts (savings, checking, etc.) and loans
    • Assets: $10 million
    • Availability: Brick-and-mortar and online (home loans only)

    Industrial Bank

    Industrial Bank first opened on Aug. 20, 1934, and is one of the larger Black-owned banks in the U.S. In addition to a wide variety of financial services, Industrial Bank also offers free financial education programs.

    • Branches: Harlem Banking Center (New York City, N.Y.), Bergen Street Banking Center (Newark, N.J.), Halsey Street Banking Center (Newark, N.J.), Anacostia Gateway Banking Center (Washington, D.C.), F Street Banking Center (Washington, D.C.), Forestville Banking Center (Washington, D.C.), Georgia Avenue Banking Center (Washington, D.C.), J.H. Mitchell Banking Center (Washington, D.C.), Oxon Hill Banking Center (Washington, D.C.), and U Street Banking Center (Washington, D.C.)
    • ATMs: Harlem Office (New York City, N.Y.), Bergen Street Office (Newark, N.J.), Halsey Street Office (Newark, N.J.), Anacostia Gateway Office (Washington, D.C.), Ben’s Chili Bowl (Washington, D.C.), DC Court of Appeals (Washington, D.C.), DC Superior Court (2) (Washington, D.C.), F Street Office (Washington, D.C.), Forestville Office (Washington, D.C.), Georgia Avenue Office (Washington, D.C.), J.H. Mitchell Office (Washington, D.C.), Nationals Park (Washington, D.C.), Oxon Hill Office (Washington, D.C.), and U Street Office (Washington, D.C.), in addition to any ATMs in the Allpoint network
    • States: New Jersey, New York, and Washington, D.C.
    • Services: Personal (loans, checking, etc.) and business (services, loans, etc.) services
    • Assets: $432 million
    • Availability: Brick-and-mortar and online 

    Liberty Bank

    Liberty Bank was originally chartered in New Orleans in 1972. After acquiring the United Bank and Trust Company in 2009, its service grew across the Greater New Orleans area. Liberty Bank is the second-largest Black-owned bank in physical footprint, with branches in eight states.

    • Branches: Montgomery Liberty Bank (Montgomery, Ala.), Tuskegee Liberty Bank (Tuskegee, Ala.), Liberty Bank Forest Park (Forest Park, Ill.), Kansas City Liberty Bank (Kansas City, Kan.), Louisville Liberty Bank (Louisville, Ky.), Southdowns Liberty Bank (Baton Rouge, La.), Southern Heights Liberty Bank (Baton Rouge, La.), Canal Street Liberty Bank (New Orleans, La.), Crowder Blvd Liberty Bank (New Orleans, La.), Franklin Ave Liberty Bank (New Orleans, La.), General DeGaulle Liberty Bank (New Orleans, La.), Gentilly Blvd Liberty Bank (New Orleans, La.), Woodward Ave Liberty Bank (Detroit, Mich.), Jackson Liberty Bank (Jackson, Miss.), and Kansas City Liberty Bank (Kansas City, Mo.)
    • ATMs: Montgomery Liberty Bank (Montgomery, Ala.), Tuskegee Liberty Bank (Tuskegee, Ala.), Liberty Bank Forest Park (Forest Park, Ill.), 4850 State Street (Kansas City, Kan.), Southdowns Liberty Bank (Baton Rouge, La.), Southern Heights Liberty Bank (Baton Rouge, La.), 910-B Decatur Street (New Orleans, La.), 2800 Gravier Street (New Orleans, La.), American Can (New Orleans, La.), Canal Street Liberty Bank (New Orleans, La.), City Hall (New Orleans, La.), Crowder Blvd Liberty Bank (New Orleans, La.), Dillard — Rosenwald Hall (New Orleans, La.), Franklin Rouses (New Orleans, La.), French Market (New Orleans, La.), General DeGaulle Liberty Bank (New Orleans, La.), Gentilly Blvd Liberty Bank (New Orleans, La.), Lafon Nursing Facility (New Orleans, La.), Lockheed Martin Buildings 102 & 350 (New Orleans, La.), Orleans Sheriff (New Orleans, La.), Xavier University (2) (New Orleans, La.), Jackson Evers International Airport (Jackson, Miss.), Jackson Liberty Bank (Jackson, Miss.), Student Center (Jackson, Miss.), Tougaloo College (Jackson, Miss.), and Union Station (Jackson, Miss.)
    • States: Alabama, Illinois, Kansas, Kentucky, Louisiana, Michigan, Mississippi, and Missouri
    • Services: Personal (checking, savings, etc.), business (checking, savings, etc.), and institutional (cash management, corporate financing, etc.) services
    • Assets: $756.77 million
    • Availability: Brick-and-mortar and online

    Mechanics & Farmers Bank

    Founded in 1907 by nine businessmen, the Mechanics & Farmers Bank is a state-chartered commercial bank. By 1935, M&F Bank became the first lending institution in North Carolina to receive FHA certification. Mechanics & Farmers merged with Fraternal Bank & Trust in 1921 and acquired Mutual Community Savings Bank in 2008.

    • Branches: Charlotte (Charlotte, N.C.), Corporate Headquarters (Durham, N.C.), Durham Branch — Durham-Chapel Hill Boulevard (Durham, N.C.), Greensboro (Greensboro, N.C.), Raleigh Branch — Rock Quarry Road (Raleigh, N.C.), Winston-Salem (Winston-Salem, N.C.)
    • ATMs: Durham Branch (Durham, N.C.) and Raleigh Branch — East Hargett Street (Raleigh, N.C.)
    • States: North Carolina
    • Services: Personal (checking and savings accounts, loans, etc.) and business (commercial checking and savings, loans, etc.) services, in addition to wealth management
    • Assets: $316.45 million
    • Availability: Brick-and-mortar and online

    Mount Olive Baptist Church Federal Credit Union

    It received its Federal Charter on Oct. 21, 1997. The Mount Olive Baptist Church Federal Credit Union is a faith-based, not-for-profit financial institution. Mount Olive Baptist Church members and their immediate families are eligible to join this organization.

    • Branches: Mount Olive Baptist Church FCU (Dallas, Texas)
    • ATMs: N/A
    • States: Texas
    • Services: Loans (auto, unsecured, etc.), savings accounts, direct deposits, and wire transfers
    • Assets: $8.36 million
    • Availability: Brick-and-mortar and online

    Oak Cliff Christian Federal Credit Union

    Officially chartered on Sept. 22, 2008, the Oak Cliff Christian Federal Credit Union is a Christian-based financial institution sponsored by the Oak Cliff Bible Fellowship. Members, employees, students, or family of the Oak Cliff Bible Fellowship (and its subsidiaries) are eligible to join the organization.

    • Branches: Oak Cliff Christian FCU (Dallas, Texas)
    • ATMs: N/A
    • States: Texas
    • Services: Loans, financial products (IRAs, money market, etc.), direct deposit, money orders, and credit reports
    • Assets: $7.34 million
    • Availability: Brick-and-mortar and online

    Omega Psi Phi Fraternity Federal Credit Union

    Founded in 1986, the Omega Psi Phi Fraternity Federal Credit Union is open to members of the fraternity, including its chapters, districts, and other related organizations, and their families, in addition to employees of both the fraternity and credit union itself.

    • Branches: Omega Psi Phi Fraternity Federal Credit Union c/o CAMO (Toccoa, Ga.)
    • ATMs: N/A
    • States: Georgia
    • Services: Accounts (single, joint, etc.), share draft checking, loans, and credit cards
    • Assets: $2.35 million
    • Availability: Brick-and-mortar and online

    OneUnited Bank

    OneUnited Bank was the first online-only Black-owned bank and is the largest Black-owned bank in the U.S. Originally founded in 1968 as Unity Bank and Trust Company, OneUnited has financed more than $100 million in loans thus far, predominantly in low- to moderate-income communities.

    “Everyone is talking about OneUnited Bank now, but what they’re not focusing on with OneUnited Bank is they’re heavily engaged in financial education and financial literacy in the cities that need it most,” Tyrone Ross, community director of Altruist, explains. “So I feel like right now, when you support OneUnited, again you get those end roads into their programs they already have instituted to provide access to financial education and financial literacy.”

    • Branches: Compton Branch (Coming Soon) (Compton, Calif.), Corporate Office and Crenshaw Branch (Los Angeles, Calif.), Miami Branch (Miami, Fla.), Corporate Headquarters (Boston, Mass.), and Roxbury Branch (Roxbury, Mass.)
    • ATMs: Part of the MoneyPass network
    • States: California, Florida, and Massachusetts
    • Services: Checking, savings, and secured VISA credit card
    • Assets: $650 million
    • Availability: Brick-and-mortar and online

    OPTUS Bank

    The story of OPTUS began in 1921, with the founding of the Victory Savings Bank by a group of African American leaders. OPTUS is committed to helping anyone, regardless of background or situation, build their wealth and improve their lives.

    • Branches: Main Branch (Columbia, S.C.)
    • ATMs: Beltline Branch (Columbia, S.C.), Corporate Office (Columbia, S.C.), and Main Branch (Columbia, S.C.)
    • States: South Carolina
    • Services: Personal (IRAs, consumer loans, etc.) and business (transaction accounts, merchant services, etc.) banking
    • Assets: $161.53 million
    • Availability: Brick-and-mortar and online

    South Side Community Federal Credit Union

    Since 2004, the South Side Community Federal Credit Union has offered access to credit and savings services for its members, in addition to financial education. Individuals are eligible for membership if they live, work, worship, attend school, or belong to an organization that is within Chicago’s South Side.

    • Branches: South Side Community Federal Credit Union (Chicago, Ill.)
    • ATMs: N/A
    • States: Illinois
    • Services: Accounts (savings, checking, etc.), loans (payroll advance, payday alternative, etc.), financial education classes, and other services (transfer sweeps, money orders, etc.)
    • Assets: $5.08 million
    • Availability: Brick-and-mortar and online

    Southern Teachers & Parents Federal Credit Union

    With more than 80 years of service, Southern Teachers & Parents Federal Credit Union provides personalized financial services to its members. Those eligible for membership include alumni, employees, parents, and students of Southern University; employees in Assumption, East Baton Rouge, Lafourche, and West Feliciana parishes; employees in Thibodaux and the Lafourche Parish Juvenile Justice Facility; and their family members.

    • Branches: Main Office (Baton Rouge, La.) and Lafeda Branch (Thibodaux, La.)
    • ATMs: Part of the CU Alliance network
    • States: Louisiana
    • Services: Accounts (checking, savings, and youth), loans, other services (VISA debit and credit cards, financial counseling, etc.)
    • Assets: $30.34 million
    • Availability: Brick-and-mortar and online

    St. Louis Community Credit Union

    Originally chartered in 1942 as the Teachers Credit Union, St. Louis Community Credit Union offers both financial services and several programs to support consumers in the local community. Individuals who live or work in St. Louis City, Franklin, and St. Louis county in Missouri—as well as in St. Clair, Madison, Monroe, and Jersey counties in Illinois—are eligible for membership, in addition to their families.

    • Branches: Ferguson Branch (Ferguson, Mo.), Florissant Branch (Florissant, Mo.), Flower Valley Branch (Florissant, Mo.), Pagedale Branch (Pagedale, Mo.), Richmond Heights (Richmond Heights, Mo.), St. John Branch (St. John), Benton Park Branch (St. Louis, Mo.), Gateway Branch (St. Louis, Mo.), Grace Hill (St. Louis, Mo.), Jennings Branch (St. Louis, Mo.), LifeWise STL (St. Louis, Mo.), Midtown Branch (St. Louis, Mo.), South City (St. Louis, Mo.), Southtown Branch (St. Louis, Mo.), Sullivan Branch (St. Louis, Mo.), University City (University City, Mo.), MET Center (Wellston, Mo.)
    • ATMs: Part of the CO-OP network
    • States: Missouri
    • Services: Loans (auto, personal, etc.), accounts (savings and checking), business development, advocacy, and insurance (life, AD&D, etc.)
    • Assets: $285 million
    • Availability: Brick-and-mortar and online

    The Harbor Bank of Maryland

    Originally opening its doors in September 1982, The Harbor Bank of Maryland offers banking and other financial services, primarily in the Baltimore metropolitan area. Harbor Bank was also the first community bank in the U.S. to have an investment subsidiary and the first to receive funding from Fannie Mae via the Community Development Financial Institution (CDFI) program. Harbor Bank is one of the two banks that are considered “Black-operated” instead of Black-owned.

    • Branches: Inner Harbor East Office (Baltimore, Md.), Main Office (Baltimore, Md.), Pimlico Office (Baltimore, Md.), Research Park Office (Baltimore, Md.), The Harbor Science & Technology Park East Branch (Baltimore, Md.),Randallstown Office (Randallstown, Md.), and Silver Spring (Silver Spring, Md.)
    • ATMs: Inner Harbor East Office (Baltimore, Md.), Main Office (Baltimore, Md.), Pimlico Office (Baltimore, Md.), Research Park Office (Baltimore, Md.), The Harbor Science & Technology Park East Branch (Baltimore, Md.),Randallstown Office (Randallstown, Md.), and Silver Spring (Silver Spring, Md.), in addition to any ATMS in the AllPoint network
    • States: Maryland
    • Services: Personal (checking, mortgages, etc.) and business (checking, savings, etc.) banking, in addition to loans (personal, mortgage, and business)
    • Assets: $327.45 million
    • Availability: Brick-and-mortar and online

    Toledo Urban Federal Credit Union

    Toledo Urban Federal Credit Union originally opened its doors on July 21, 1996, to help its members achieve economic empowerment. Membership in Toledo’s first community development credit union is available to individuals who live, work, worship, perform volunteer services, or participate in associations headquartered in the central city community, in addition to their families.

    • Branches: Nexus Building (Toledo, Ohio) and Toledo Urban Federal Credit Union (Toledo, Ohio)
    • ATMs: N/A
    • States: Ohio
    • Services: Checking and share accounts, loans (personal, tuition, etc.), credit and ATM/debit cards, credit counseling, and other services (notary service, overdraft protection, etc.)
    • Assets: $10 million
    • Availability: Brick-and-mortar and online

    Tri-State Bank

    In the first 10 years after its founding in 1946, Tri-State Bank of Memphis made more than $10 million in first mortgage loans on homes, representing home ownership for more than 2,000 African American families. Tri-State has also played a critical part in the civil rights movement, including hosting local sit-ins in the bank’s boardroom, providing bail money for protesters, and providing $60,000 in loans to help save the Lorraine Motel, the site of Dr. Martin Luther King’s assassination, from foreclosure in 1982.

    • Branches: Whitehaven (Memphis, Tenn.)
    • ATMs: Whitehaven (Memphis, Tenn.) and any ATMs in the Money Tower network
    • States: Tennessee
    • Services: Personal (checking, savings, etc.), business (checking, savings, etc.), loans (auto, mortgage, etc.), and other services (financial education, Fraud Center, etc.)
    • Assets: $111 million
    • Availability: Brick-and-mortar and online

    United Bank of Philadelphia

    Originally founded in 1992, United Bank of Philadelphia offers personalized banking services in the Greater Philadelphia area to both individuals and businesses. By providing financing to small businesses in urban areas, United Bank supports their growth and allows them to create jobs with livable wages, thus improving the economic condition of those working in the local community.

    • Branches: Center City (Philadelphia, Pa.) and Progress Plaza (Philadelphia, Pa.)
    • ATMs: C-Town Supermarket (Philadelphia, Pa.), City Hall (Philadelphia, Pa.), Criminal Justice Center (Philadelphia, Pa.), Masjidullah Inc. (Philadelphia, Pa.), Philadelphia Traffic Court (Philadelphia, Pa.), Police Districts (Philadelphia, Pa.), Revolutions at Penn Treaty (Philadelphia, Pa.), The Fillmore-Philadelphia (Philadelphia, Pa.), and West Philadelphia (Philadelphia, Pa.)
    • States: Pennsylvania
    • Services: Personal and business banking (checking, savings, etc.), in addition to loans (SBA and commercial loans)
    • Assets: $54.64 million
    • Availability: Brick-and-mortar and online

    Unity National Bank

    The bank was founded in 1963 and chartered in 1985. “In February 1989, through a series of transactions and diligent efforts, it was acquired from Bay Bancshares by local minority leaders,” the bank’s history reports. Unity focuses on helping to rebuild the community with an emphasis on commercial loans and mortgages. It also works closely with civic organizations and agencies, such as the NAACP and the Third Ward Redevelopment Council.

    • Branches: Atlanta (Atlanta, Ga.) Blodgett (Houston, Texas), and Fort Bend (Missouri City, Texas)
    • ATMs: Atlanta (Atlanta, Ga.) Blodgett (Houston, Texas), and Fort Bend (Missouri City, Texas), in addition to any ATMs in the Select network
    • States: Georgia and Texas
    • Services: Business and personal services (loans, checking and savings accounts, etc.)
    • Assets: $133.61 million
    • Availability: Brick-and-mortar and online

    Urban Upbound Federal Credit Union

    Urban Upbound was founded in 2004, to provide five integrated programs to individuals living in public housing and and other low- and moderate-income neighborhoods. The Urban Upbound Federal Credit Union offers affordable financial services to its members.

    • Branches: Urban Upbound Federal Credit Union (Long Island City, N.Y.)
    • ATMs: N/A
    • States: New York
    • Services: Savings, share certificates, as well as personal and small business loans
    • Assets: $1.35 million
    • Availability: Brick-and-mortar and online

    Virginia State University Federal Credit Union

    Authority to establish the Virginia State College Federal Credit Union was granted on Oct. 19, 1938. On May 22, 1979, the organization’s board of directors voted to change the name to the Virginia State University Federal Credit Union.

    • Branches: Virginia State University Federal Credit Union (South Chesterfield, Va.)
    • ATMs: Virginia State University Federal Credit Union (South Chesterfield, Va.)
    • States: Virginia
    • Services: Loans, accounts (checking, savings, etc.), insurance, and other services (wire transfer, direct deposit, etc.)
    • Assets: $10.17 million
    • Availability: Brick-and-mortar and online
    Источник: https://www.investopedia.com/black-owned-banks-by-state-5024944

    Wells fargo atm locations

    wells fargo atm locations Wells Fargo ATM serves Columbus, GA and is located in the 31909 ZIP code. Locations. Surcharge-Free ATMs and Branch Locations. Find 18 listings related to Wells Fargo Bank in Hagerstown on YP. - Jeppesen Terminal, and A, B and C Gates. Visa Global ATM Locator 2050 W. BECU members can access accounts and conduct transactions across the country by visiting CO-OP ATMs and partner credit union branch locations. Find 28 listings related to Wells Fargo Atms in Whitewater on YP. Print Mastercard ATM Locator guides you to the nearest ATM location with just a click. The assigned Fed RSSD ID of Wells Fargo Bank is 451965. E. As of today, Wells Fargo Bank is the 1st largest There are no Wells Fargo ATM's located on the Vegas Strip but there are 2 locations between the Strip and Downtown. wellsfargo. Digital wallet access is available at Wells Fargo ATMs for Wells Fargo Debit Cards and Wells Fargo EasyPay ® Cards in Wells Fargo-supported digital wallets. Availability may be affected by your mobile carrier Find 457 listings related to Atm Locations Wells Fargo in Oklahoma City on YP. It also has a filter if you’re interested only in Plus Alliance ATMs. ; Saturday from 9 a. Wells Fargo charges a flat $5 fee for withdrawing cash from international ATMs; however, this fee is waived for Portfolio by Wells Fargo® checking account holders with unlimited non-network ATM withdrawals. (New and existing customers) 24 hours a day, 7 days a week. Learn about daily withdrawal limits, resetting PIN numbers, reporting lost or stolen cards, and more at FAQ about ATM Cards. Discover ATM locator: Discover has 415,000 ATMs, so chances are good you’ll find one near you. Find ATMs from across the world quickly, easily & securely. D. Your mobile carrier’s message and data rates may apply. Wells Fargo card-free ATMs Locations (NFC-Enabled) 530 Las Vegas Blvd S, Las Vegas, NV 89101 Tel: 800-869-3557. You can find nationwide locations by selecting the Surcharge Free ATMs and Partner Credit Union filters before you search. Set up is easy - just add your Bank of America debit card to your digital wallet. May 08, 2015 · And to keep up with its 250 to 1,000 residents’ monetary needs, Wells Fargo established the ATM around 2000. Credit card is subject to credit qualification. Start Address: End Address: Print; Download To GPS; there are no locations within the map area. Main Hall of Terminal 2: open daily from 7:00 a. Currency Exchange at Lindbergh Terminal 1: Travelex (612-713-7483) at ticketing lobby, between doors 5 & 6 and a currency exchange office & ATM is at entrance to Concourse G entrance. Unfortunately, there is no free mobile app option. googletagmanager. Use any of the 85,000 conveniently located ATMs at your favorite retailer like Target, CVS, Kroger, Walgreens, Safeway, Circle K, Speedway, Winn Dixie, 7-Eleven as well as many of the convenient PenFed ATMs and branch locations. Availability may be affected by your mobile carrier’s coverage area. ATM/Cash Machines. 1)Have your Card out and ready to use as you approach an ATM. With over 55,000+ ATM locations, you can find one virtually anywhere by searching on the Allpoint location app. Level 2, Terminal A, Ticketing Lobby Level 2, near Gate A7 Level 2, near Gate A17 Level 2, Terminal B, Ticketing Lobby Level 2, Terminal B, Post-security Level 2, near Gate B1 Pre-Security, Houston Airport Marriott Level 2, Terminal C-D Walkway Level 2, near Gate C3 Level 2, near Gate C6 Level 2, near To locate the nearest MasterCard ® ATM Click on the MasterCard ® logo and you will be linked to their worldwide network of ATMs. 1. Learn more about digital wallets . 8. - Open Monday through Friday from 9 a. There are no Wells Fargo ATM's located on the Vegas Strip but there are 2 locations between the Strip and Downtown. +. Apple Pay uses near-field communication (NFC) for cardless ATM access. 5. Bank customer, you also have access to transact at MoneyPass Network ATMs without a surcharge fee. See reviews, photos, directions, phone numbers and more for Wells Fargo Bank locations in Lockport, NY. Eligibility for introductory rate(s), fees, and bonus rewards offers. html?id=GTM-W2GD88" height="0" width="0" style="display:none;visibility:hidden"></iframe> Visa Global ATM Locator Now it is easy to find an ATM thanks to Mastercard ATM locator. Use your MoneyPass ATM card at any of the ATMs listed on this site without paying a surcharge. F. 3 As a U. C. Because…” more. Use your smartphone to withdraw cash, make deposits, check balances and more at our Cardless ATM. AllPoint ATMs & Money Network Check Cashing. WELLS FARGO ATM - St. 4. US Bank ATMs are located in the Gateway Center, level 3 of the terminal, in Concourse A and Concourse B, and serve members in the following networks: FSV, Fastbank, Plus EBT, StarP, NyceP, Star, Nyce, Pulse, Euronet Cirrus Intl, CirrusP, Plus, Cirrus, Shazam. To locate the nearest MasterCard ® ATM Click on the MasterCard ® logo and you will be linked to their worldwide network of ATMs. To comply with requirements and recommendations from health officials and local governments, every person entering a Golden 1 branch must wear a face mask/covering. WELLS FARGO ATM. Mastercard ® ATM Alliance Location Search Instruction. com/ns. Louis. All cities Show all cities. Wells Fargo Bank currently operates with 5317 branches located in 37 states. Important information: As community reopening plans are subject to change, we recommend contacting your local branch prior to your visit to confirm their hours of operation and availability. See reviews, photos, directions, phone numbers and more for Wells Fargo Bank locations in Hagerstown, MD. We used to visit this location on our Vegas trips to avoid the finance charges at the casino ATMs. ATM & Branch Locator. In July 2018, California changed the network of surcharge-free ATMs for EBT cards. When at the ATM: Select your Bank of America debit card in your digital wallet. Use the Capital One Location Finder to find nearby Capital One locations, as well as online solutions to help you accomplish common banking tasks. com. The bank has most branches in California, Texas, Florida, North Carolina and New Jersey. WELLS FARGO ATM - Chesterfield - Missouri 17107 Chesterfield Airport Rd, #120 WELLS FARGO ATM - Gainesville - Missouri Us-160 & Mo-5 (800) 869-3557 WELLS FARGO ATM - Imperial - Missouri 1269 Main St Wells Fargo Bank ATMs Near Me Wells Fargo Bank Branches Near Me Hide Partner Locations Nearby Wells Fargo Bank ATMs and branches with location addresses, opening hours, phone numbers, and more information including directions and maps. In our ever-changing world, STAR is positioned to meet the needs of consumers and businesses today, and in the future. * Select locations only. There is a $500 ATM limit on debit cards. U. 1-800-869-3557. A. Here are a few tips on how you can help protect yourself when using an ATM. Hours of Operation in St. More detailed information can be found on a branch by selecting one of the options displayed. Louis, MO. Located - Downtown Aug 08, 2021 · Allpoint ATMs are surcharge-free with locations worldwide. Re: Banks and ATM's. Lower Level of Terminal 5: open daily from 8:00 a. 2 Locations in St. Get location hours, directions, customer service numbers and available banking services. With over 55,000 participating ATMs, your cash is never far away. You can find Allpoint ATMs virtually anywhere your travels may take you, throughout the United States and around the globe. Downtown. We’ll help you find the ATM machine nearest to you. 1% cash back on up to $3,000 in debit card purchases each month. Find a Chase branch and ATM in Michigan. Skip to main content. Just type your ZIP code in the box and check if you’d like to see surcharge-free Oct 21, 2021 · ATM ATMs are located in all terminals. Seaway Bank offers full banking services including foreign currency exchange services from two locations within O'Hare International Airport. Oct 21, 2021 · Banking/ATM Services at Chicago OHare ORD Airport. 1 That's fine if you've got sufficient funds in your account, but it can cause overdrafts, fees, and other problems if you don't. If you have requested a set of Money Network ® Checks 1, you can also use this Locator to find locations near you where you can cash them at no cost. Finding an ATM that won’t charge you an ATM surcharge fee (aka foreign ATM fee or out-of-network fee) is easy if you know where to look. Bank ATMs or partner ATMs. Browse all First Citizens Bank branch and ATM locations. 2 It's easy to find MoneyPass ATMs in your area. Wells Fargo offers more than 12,000 ATMs and approximately 4,900 retail banking branches coast to coast. Louis - Missouri 2801 Market St. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC,Member SIPC has popup , a registered broker-dealer and non-bank affiliate of Wells Fargo & Company. MoneyPass offers a surcharge-free ATM experience for qualified cardholders at a variety of convenient locations throughout the United States. Wells Fargo Locations Near Me Hide Partner Locations Wells Fargo Bank ATMs and branches in Cape May, United States with nearby location addresses, opening hours, phone numbers, and more information including directions and maps. Availability may be affected by your mobile carrier Find the best Wells Fargo Atm near you on Yelp - see all Wells Fargo Atm open now. Surcharge-Free ATMs. All banks have them, some even two! Many of the ones you find out and about are owned by independents, so if your need is more than one or two hundred dollars, use the bank ones, as the independents only give one or two hundred. 31 reviews. If an address has more than one ATM, please look for the MoneyPass logo on a sign at the ATM or displayed on the ATM screen to avoid paying a surcharge. 612-727-1725) located at ticketing lobby, between doors 5 & 6 MoneyPass offers a surcharge-free ATM experience for qualified cardholders at a variety of convenient locations throughout the United States. A note about social media: Opinions, comments and actions taken on Social Media are those of the third party and do not necessarily reflect the views of the creator Find Chase branch and ATM locations - Grays Harbor - Atm. Seaway Bank. 15 helpful votes. Directions. FAQ for ATM Cards. Regions Bank ATM – The Regions Deposit Smart ATMs allow you to cash your checks at any time of the day. Call 1-888-SITE-CO-OP (888-748-3266) to find a location by telephone. Universal City Studios Credit Union. Find 222 listings related to Wells Fargo Atm in The Strip on YP. Find one near you. View credit cardholder agreements. 1121 Las Vegas Blvd S. <iframe src="//www. Bank of America financial centers and ATMs in Delaware are conveniently located near you. 2)Avoid ATMs that are poorly lit, hidden, or obstructed from view. 2 days ago · Automated teller machines (ATMs) are located throughout the following terminals: - 2nd level of Terminal D - 1st level of Terminals E and J. Louis - Missouri 1401 S Brentwood Blvd, #625. Find the nearest location to open a CD, deposit funds and more. Save. to 5:00 p. We're taking precautions to help keep you, our employees, and other members safe. html?id=GTM-W2GD88" height="0" width="0" style="display:none;visibility:hidden"></iframe> About Wells Fargo Bank: Loan Broker . If you observe or sense suspicious persons or circumstances, do not use the ATM at that time. ATM Card Limits. Opens modal dialog. Directions . Even though I've traveled to PV periodically for 26 years, this last trip was the first one where I depended on my ATM card (through Wells Fargo --- 40 year customer). “This Wells Fargo is way down the strip next to the 7-eleven and Walgreens. “Our ATMs at McMurdo Station are the southernmost ATMs in the world, according to FIS uses cookies to improve your experience on our websites. Bank, 119th Street Branch Full Service Brick and Mortar Office 10100 West 119th Street Overland Park, KS 66213 ATM Access Code . The best way to get to them is by riding the Deuce Bus or the Centennial Express(CX). Xceed Financial Credit Union. 6 trillion in assets. Bank also offers currency exchange (tel. Founded in 1852, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, more than 12,500 ATMs, online (wellsfargo. We use your browsing data on fisglobal. See reviews, photos, directions, phone numbers and more for Wells Fargo Atm locations in The Strip, Las Vegas, NV. ATMs are a convenient way to access your money. All you need to do is insert your check into the Regions Deposit Smart ATM and you will be walked through the transaction. Fees may apply, depending on your bank’s policy. com), and mobile devices. Tip: Always keep your ATM card in a safe location. ATMs / Cash Machines. - 3rd Level of the meeter/greeter lobby J. to 6 p. Otherwise, out-of-network ATM withdrawal fees may apply. com to gather analytics to help provide personalized content and an overall better user experience. 18. ² Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Spending Account each month. −. Apr 26, 2021 · 14) Wells Fargo. Use the Wells Fargo Mobile® app to request an ATM Access Code to access your accounts without your debit card at any Wells Fargo ATM. 9 years ago. . Get location hours, directions, and available banking services. May 06, 2021 · Apple Pay is accepted at most cardless ATMs including Wells Fargo, Chase and Bank of America. S. Travelex ATM Locations: – Terminal C, near Gate Nos. name address phone. www. See reviews, photos, directions, phone numbers and more for Wells Fargo Atms locations in Whitewater, CO. Important information ATM Access Codes are available for use at all Wells Fargo ATMs for Wells Fargo Debit and ATM Cards, and Wells Fargo EasyPay® Cards using the Wells Fargo Mobile® app. to 1 p. You can withdraw up to $300 per day using your ATM card. 5 based on 96 votes. Find the location that offers the product or service you need and come visit us. See reviews, photos, directions, phone numbers and more for Atm Locations Wells Fargo locations in Oklahoma City, OK. Follow the web page instructions to narrow your search or simply enter your zip code and press enter. There are now 7,400 free ATMs in California across 42 different banks and financial institutions. Wells Fargo Bank. If you use a deposit ATM from another bank (within the network), your funds might not show up in your account as quickly as they would if you had used your bank. Input city, State, and Zipcode in field box. AllPoint gives you freedom to get cash surcharge-free 1 at more than 55,000 locations. If your bank is part of the over 1000 card providers, including RoarMoney, that participate in Allpoint, you can find locations in popular places such as Target, Walgreens You can find Allpoint ATMs virtually anywhere your travels may take you, throughout the United States and around the globe. 2. Print Jan 18, 2013 · Banks typically charge nonaccount holders $3 a pop to withdraw money from their ATMs, vastly more than it costs to actually perform the transactions, so more nonaccount holder ATM customers means Enter a city, state, or zip code above for a list of nearby ATMs and locations. Popular Cities. Located - Downtown ATMs/Cash Machines: - ATMS provided by Public Service Credit Union. Use our online branch locator to find your nearest Wells Fargo Bank ATM or branch in Baton Rouge and get branch and ATM hours, directions and customer service phone numbers. You may not be eligible for introductory annual percentage rates, fees, and/or bonus rewards offers if you opened a Wells Fargo Credit Card within the last 15 months from the date of this application and you received introductory APR(s), fees Once there, enter your location and select the ATM checkbox filter for a list of nearby U. Mar 31, 2011 · Wells Fargo Bank is a FDIC-insured bank with certificate number of 3511. Find a MoneyPass® ATM. Bank/Credit Union: - Public Service Credit Union located in Jeppesen Terminal, Level 6, West. Currency Exchange at Minneapolis-St Paul MSP Airport. ATMs/Cash Machines: - ATMS provided by Public Service Credit Union. The Locator API is now part of CO-OPs Developer Portal. May 10, 2021 · Try using one of these: Visa ATM locator: The Visa ATM locator lets you search by keyword. Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified financial services company with $1. B. Hours Guide WELLS FARGO ATM Missouri St. Sam Houston Parkway South, Suite 1300 Houston, Texas 77042 United States of America Tel: (832) 308-4000 The Wells Fargo ATM allows you to cash up to 30 checks at once. Final Thought. Banks & Credit Unions. Mastercard ATM Locator guides you to the nearest ATM location with just a click. Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit cards. Members can perform a search on your credit union website or mobile application for ATM locations, Shared Branching locations, or both and the results are displayed directly to your preferred channel. Search below to confirm the hours of operation for your nearest branch. To verify that an ATM is NFC-enabled, look for the contactless symbol. Please, select below a state to find an ATM or Wells Fargo branch location near you. Results. FIS uses cookies to improve your experience on our websites. Wells Fargo Bank offers Personal in West Wendover, nv - Elko County and is a business specialized in Apartments. As a full-service debit payments network, STAR provides anytime, anywhere access to enable purchases and payments through any channel. To get started, search for your branch in the locator below then select "Make An Appointment". You can get this list as a printable PDF document here. ), but I did not do the research to find out which banks are associated with Wells Fargo, thus "no fee. - Past security in all the concourses. Wells Fargo offers more than 12,000 ATMs and nearly 6,200 retail banking stores coast to coast. With thousands of ATMs or banking locations, it’s easy to find one near you, online or using your Wells Fargo Mobile ® app. Availability may be affected by your mobile carrier Find 28 listings related to Wells Fargo Atms in Whitewater on YP. Availability may be affected by your mobile carrier Use our online branch locator to find your nearest Wells Fargo Bank ATM or branch in Baton Rouge and get branch and ATM hours, directions and customer service phone numbers. Banking locations With approximately 4,900 banking locations around the country, you can make business deposits, get cash, purchase money orders and much more with our helpful customer service. 80, 105, 120 and 132; and – Terminal C, on the arrivals lvl near Starbucks Enter a city, state, or zip code above for a list of nearby ATMs and locations. Select “Show MoneyPass ATM Network locations” in the dropdown ATM Access Code . Wells Fargo Bank is listed in the categories Banks, Loans Personal, Mortgage Contracts & Services, Mortgage Companies, Commercial Banks, Consumer Lending, Real Estate Loans & Contracts, Financial Services, Personal Credit Institutions and Banks Surcharge-Free ATMs and Branch Locations. ATM Access Code . ¹ Get fee-free transactions at any Moneypass ATM in a 7-Eleven location or at any Allpoint or Visa Plus Alliance ATM. Explore other popular Financial Services near you from over 7 million businesses with over 142 million reviews and opinions from Yelpers. Everything worked fine (safe, etc. Find 16 listings related to Wells Fargo Bank in Lockport on YP. ; closed on Sundays. Cardless ATM. to 8:00 p. m. ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), and loan payments or account funding made with your debit card are not eligible for cash back rewards. To find a Plus Alliance ATM near you, simply use the online locator tool. wells fargo atm locations

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    Источник: https://online.citi.com/US/login.do?locale=en_US

    Bank ATM Fees: How Much Do Banks Charge and How Can I Avoid Them?

    Bank ATM fees can vary from as low as $2.50 per transaction to as high as $5 or more, depending on whether the ATM you use is out-of-network or even international. When you use an ATM that isn't operated by your own bank to make withdrawals, deposits or even simple balance inquiries, you can run into a bundle of extra fees. Sometimes these fees are charged by both your bank and by the company that operates the ATM you use.

    • The ATM operator's fee: When using an ATM that isn't part of your bank's network of machines, the machine usually notifies you about a fee charged by the bank or company that operates the ATM. Banks charge non-customers $1.50 to $3.50 at their ATMs, but non-bank ATM operators often charge more, up to $10 per transaction. Casinos in Las Vegas, for instance, are notorious for setting high fees on ATM cash withdrawals.
    • Your bank's non-network fee: Your own bank may also charge you a "non-network" ATM fee for using an ATM operated by another bank or institution. These charges will typically cost between $2.00 and $3.50, depending on your bank and the tier of service you're enrolled in. Note that you won't be told about such fees at any time during your ATM transaction.
    • International transaction fee: For international transactions you usually pay higher fees on cash withdrawals. These fees combine a flat charge of around $2.00 to $7.00 with a conversion rate that is calculated as a percentage of the amount withdrawn, typically 3 percent.

    ATM Fees By Bank

    The following are the standard ATM withdrawal fees charged by each bank. Non-network ATM fees apply to domestic transactions at any machine that doesn't belong to your bank.

    Bank of America$2.50$5.00 and 3%$3.00
    BB&T$2.50$5.00 and 3%$2.50
    BBVA Compass$2.50$2.50 and 3%-
    BMO Harris$2.50$2.50 and 3%$2.50
    Capital One$2.00$2.00 and 3%$3.00
    Chase$2.50$5.00 and 3%$3.00
    Citibank$2.50$2.50 and 3%$3.00
    Citizens Bank$3.00 and 3%$3.00
    Comerica Bank$2.50$5.00 and 3%$3.00
    Fifth Third Bank$2.75$5.00 and 3%$1.50–$3.50
    HSBC Bank$2.50$2.50 and 3%-
    Keybank$2.50$5.00 and 1%$2.50

    While all of the 22 banks we examined offer free use of their own ATMs, all of them charge customers for transactions at other companies' machines, which are considered non-network ATMs. Most banks will waive the non-network ATM fee for customers who keep large balances in higher-tier checking or savings accounts. Bank of America is one of the few banks that don’t offer this ATM fee waiver on any account, but the bank stressed that it may offer a refund on a case-by-case basis depending on your account history.

    To its credit, Bank of America is a part of the Global ATM Alliance, which directs its customers to use specific ATMs when travelling abroad. For example, when Bank of America customers withdraw British pounds from Barclays Bank ATMs, they won’t have to pay either bank for the transaction, although a 3 percent fee still applies to cover the currency exchange.

    How to Avoid High ATM Fees

    If you're paying too much in ATM fees, you have several immediate ways of reducing your costs. These methods each involve planning ahead and thinking about your ATM habits.

    • Use your bank's app to find branches and free ATMs near you
    • Choose the cash-back option when paying at grocery stores and other merchants
    • Withdraw cash less frequently but in greater amounts

    You can stick to using free ATMs by keeping track of where your bank operates ATMs and branches. The same goes for knowing which local stores offer the cash-back option. Withdrawing larger amounts of money will reduce the number of ATM withdrawals you make, but carrying more cash comes with greater risk of loss. If these practices seem impractical or unsuitable for you, you can also avoid ATM fees by switching banks.

    Find Free Checking Accounts With No ATM Fees

    Several banks offer free checking accounts with no non-network ATM fees at all, regardless of which ATMs you decide to use. A few banks take this policy even further by offering rebates on any ATM fees you pay to other companies. Here are a few of the best examples:

    Ally Bank: Ally is a major online-only bank, which means that it doesn't operate any physical branches of its own. However, this bank offers free nationwide ATM access through a partnership with Allpoint, a company with over 55,000 ATMs in the United States. In addition, Ally account holders pay no non-network ATM fees and receive up to $10.00 in reimbursement each month for any ATM operator fees they pay to other companies.

    Aspiration: The Aspiration Summit Account is an online checking option that offers no-fee access to any ATM in the world. In addition to offering free access to all ATMs in the SUM network, the company reimburses all ATM fees you pay to other banks or operators on a monthly basis. This account also costs no monthly fee, making it a fairly cost-effective option.

    Capital One 360: Capital One does charge some ATM fees—but anyone with the Capital One 360 Checking Account gets a free pass on those costs. While its status as an online checking account means that Capital One 360 Checking offers limited brick-and-mortar service, you won't need to pay any monthly fee or non-network ATM fees. However, Capital One won't reimburse you for any operator fees charged by other companies when you use their ATMs. Like Ally, Capital One is a partner in the Allpoint ATM network.

    Schwab Bank: Another online option, the Schwab Bank High Yield Investor Checking Account offers unlimited rebates for all ATM fees, worldwide. This checking account has no monthly fee or minimum balance, but you will be required to open a Schwab One brokerage account—also fee-free. Schwab is a good fit if you're looking for a simple investment option in addition to eliminating your ATM costs.

    Upgrade to a High-Yield Checking Account

    One way to reduce domestic ATM fees is to upgrade your standard checking account to a high-yield account. Certain banks may waive their non-network ATM fees or reimburse you for operator fees charged by other ATM owners. However, high-yield accounts often come with monthly service charges that can't be avoided unless you meet a high minimum account balance. Here's how upgrading to high-yield checking affects your ATM costs at some major banks:

    Chase Bank: Chase Premier Plus Checking refunds account holders four times per statement period, while its Premier Platinum Checking account provides unlimited free access to non-Chase ATMs. The Premier Plus account comes with a $25 monthly charge unless you have an average daily balance of at least $15,000 spanning connected accounts or have an automatic payments linked to a Chase mortgage. The Platinum level account costs $35 month unless you have $75,000 or more in qualifying accounts.

    Citibank: has the benefit of partnering with 7-Eleven and free ATM-finder MoneyPass to outfit its customers with 34,000 ATMs in the country. Plus, Citigold cardholders have the bank’s fee for using unaffiliated ATMs waived altogether. Citigold members need to maintain $50,000+ in their Citibank accounts or $100,000 in accounts including investment portfolio.

    Citizens Bank: higher-level checking accounts like the Citizens Bank Platinum and Platinum Plus accounts let you waive ATM fees up to four times per month. However, you'll need at least $25,000 in order to avoid the $25.00 monthly fees on these premium accounts.

    Fifth Third Bank: the Preferred Checking account waives Fifth Third's non-network charges as well as other banks' operator fees, which are "rebated back to you on the same day—up to 10 times per month." There is a $25.00 monthly service charge for this account unless there is at least $100,000 across your deposit and investment accounts.

    KeyBank: the Key Privilege Select Checking Account covers bank of america las vegas near me unlimited number of non-KeyBank ATM charges, while two lower-tier accounts reimburse you for $6 per month for the same costs. The Privilege account has a $50.00 monthly fee, which can be avoided by keeping your total balances equal to or over $100,000.

    PNC Bank: Virtual Wallet with Performance Select waives all PNC fees and reimburses an unlimited amount of the fees charged by other banks. The standard Virtual Wallet account may have similar benefits depending on where you live. There is no monthly service fee for PNC Performance Select if your combined average monthly balance reaches $5,000. Otherwise, you’ll be billed $25.00 each statement cycle.

    Consider Brokerage Accounts

    A number of brokerage services also issue bank cards that allow you to access cash at ATMs. Companies like E*Trade, Charles Schwab and Fidelity—our top commission-free ETF brokers online—generally do not have brick-and-mortar branches but instead will refund the fees associated with using an unaffiliated ATM for cash withdrawals. Charles Schwab will even refund all fees for international transactions while E*Trade and Fidelity charge only a 1 percent fee.

    Источник: https://www.valuepenguin.com/banking/bank-atm-fees

    Bank of America

    American multinational banking and financial services corporation

    This article is about a commercial bank unaffiliated with any government. For the central bank of the United States, see Federal Reserve System.

    "BofA" redirects here. For the French illustrator, see Gus Bofa.

    Bank of America logo.svg
    Bank of America Corporate Center.jpg

    The Bank of America Corporate Center, headquarters of Bank of America in Charlotte, North Carolina

    TypePublic company

    Traded as

    ISINUS0605051046
    IndustryFinancial services
    PredecessorBank America
    NationsBank
    Founded1998 (via the merger of BankAmerica & NationsBank)
    1956 (as BankAmerica)
    1784 (as its predecessor, the Massachusetts Bank, through the merger with FleetBoston in 1999)
    FounderAmadeo Giannini (BankAmerica)
    Hugh McColl
    (NationsBank)
    HeadquartersCharlotte, North Carolina, U.S. (Corporate)
    New York, NY (Investment banking)

    Number of locations

    4,600 retail financial centers & approximately 16,200 ATMs[1]

    Area served

    Worldwide

    Key people

    ProductsAsset management, banking, commodities, credit cards, equities trading, insurance, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management
    RevenueDecreaseUS$85.52 billion (2020)[1]

    Operating income

    DecreaseUS$18.99 billion (2020)[1]

    Net income

    DecreaseUS$17.89 billion (2020)[1]
    Total assetsIncreaseUS$2.819 trillion (2020)[1]
    Total equityDecreaseUS$272.92 billion (2020)[1]
    OwnersBerkshire Hathaway (11.9%) The Vanguard Group (7.1%) BlackRock (6.2%)[2][3]

    Number of employees

    200,000 (2020)[1]
    DivisionsBofA Securities
    Merrill
    Bank of America Private Bank
    Websitebankofamerica.com

    The Bank of America Corporation (simply referred to as Bank of America, often abbreviated as BofA or BoA) is an American multinational investment bank and financial servicesholding company headquartered in Charlotte, North Carolina. The bank was founded in San Francisco, and took its present form when NationsBank of Charlotte acquired it in 1998. It is the second largest banking institution in the United States, after JPMorgan Chase, and the eighth largest bank in the world. Bank of America is one of the Big Four banking institutions of the United States.[4] It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking.

    One branch of its history stretches back to Bank of Italy, founded by Amadeo Pietro Giannini in 1904, which provided various banking options to Italian immigrants who faced service discrimination.[5] Originally headquartered in San Francisco, California, Giannini acquired Banca d'America e d'Italia (Bank of America and Italy) in 1922. The passage of landmark federal banking legislation facilitated a rapid growth in the 1950s, quickly establishing a prominent market share. After suffering a significant loss after the 1998 Russian bond default, BankAmerica, as it was then known, was acquired by the Charlotte-based NationsBank for US$62 billion. Following what was then the largest bank acquisition in history, the Bank of America Corporation was founded. Through a series of mergers and acquisitions, it built upon its commercial banking business by establishing Merrill Lynch for wealth management and Bank of America Merrill Lynch for investment banking in 2008 and 2009, respectively (since renamed BofA Securities).[6]

    Both Bank of America and Merrill Lynch Wealth Management retain large market shares in their respective offerings. The investment bank is considered within the "Bulge Bracket" as the third largest investment bank in the world, as of 2018[update].[7] Its wealth management side manages US$1.081 trillion in assets under management (AUM) as the second largest wealth bank of america las vegas near me in the world, after UBS.[8] In commercial banking, Bank of America operates—but does not necessarily maintain retail branches—in all 50 states of the United States, the District of Columbia and more than 40 other countries.[9] Its commercial banking footprint encapsulates 46 million consumer and small business relationships at 4,600 banking centers and 15,900 automated teller machines (ATMs).

    The bank's large market share, business activities, and economic impact has led to numerous lawsuits and investigations regarding both mortgages and financial disclosures dating back to the 2008 financial crisis. Its corporate practices of servicing the middle class and wider banking community has yielded a substantial market share since the early 20th century. As of August 2018[update], Bank of America has a $313.5 billion market capitalization, making it the 13th largest company in the world. As the sixth largest American public company, it garnered $102.98 billion in sales as of June 2018[update].[10] Bank of America was ranked #25 on the 2020 Fortune 500 rankings of the largest US corporations by total revenue.[11] Likewise, Bank of America was also ranked #8 on the 2020 Global 2000 rankings done by Forbes. Bank of America was named the "World's Best Bank" by the Euromoney Institutional Investor in their 2018 Awards for Excellence.[12]

    History[edit]

    The Bank of America name first appeared in 1923, with the formation of Bank of America, Los Angeles. In 1928, it was acquired by Bank of Italy of San Francisco, which took the Bank of America name two years later.[13]

    The eastern portion of the Bank of America franchise can be traced to 1784, when Massachusetts Bank was chartered, the first federally chartered joint-stock owned bank in the United States and only the second bank to receive a charter in the United States. This bank became FleetBoston, with which Bank of America merged in 2004. In 1874, Commercial National Bank was founded in Charlotte. That bank merged with American Trust Company in 1958 to form American Commercial Bank.[14] Two years later it became North Carolina National Bank when it merged with Security National Bank of Greensboro. In 1991, it merged with C&S/Sovran Corporation of Atlanta and Norfolk to form NationsBank.

    The central portion of the franchise dates to 1910, when Commercial National Bank and Continental National Bank of Chicago merged in 1910 to form Continental & Commercial National Bank, which evolved into Continental Illinois National Bank & Trust.

    Bank of Italy[edit]

    Main article: Bank of Italy (United States)

    From a naming perspective, the history of Bank of America dates back to October 17, 1904, when Amadeo Pietro Giannini founded the Bank of Italy in San Francisco.[13] In 1922, Bank of America, Los Angeles was established with Giannini as a minority investor. The two banks merged in 1928 and consolidated with other bank holdings to create what would become the largest banking institution in the country.[15] In 1986, Deutsche Bank AG acquired 100% of Banca d'America e d'Italia, a bank established in Naples, Italy, in 1917 following the name-change of Banca dell'Italia Meridionale with the latter established in 1918.[citation needed] In 1918, another corporation, Bancitaly Corporation, was organized by A. P. Giannini, the largest stockholder of which was Stockholders Auxiliary Corporation.[15] This company acquired the stocks of various banks located in New York City and certain foreign countries.[15][16] In 1918, the Bank opened a Delegation in New York in order to follow American political, economic and financial affairs more closely.[15] In 1928, Giannini merged his bank with Bank of America, Los Angeles, headed by Orra E. Monnette. Bank of Italy was renamed on November 3, 1930, to Bank of America National Trust and Savings Association,[17] which was the only such designated bank in the United States at that time. Giannini and Monnette headed the resulting company, serving as co-chairs.[18]

    Expansion in California[edit]

    Giannini introduced branch banking shortly after 1909 legislation in California allowed for branch banking in the state, establishing the bank's first branch outside San Francisco in 1909 in San Jose. By 1929 the bank had 453 banking offices in California with aggregate resources of over US$1.4 billion.[19] There is a replica of the 1909 Bank of Italy branch bank in History Park in San Jose, and the 1925 Bank of Italy Building is an important downtown landmark. Giannini sought to build a national bank, expanding into bbva compass credit card rewards login 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.[20] 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 sector. 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. Only in the 1980s, with a change in federal banking legislation and regulation, could Bank of America again expand its domestic consumer banking activity outside California.

    New technologies also allowed the direct linking of credit cards with individual bank accounts. In 1958, the bank introduced the BankAmericard, which changed its name to Visa in 1977.[21] A coalition of regional bankcard associations introduced Interbank in 1966 to compete with BankAmericard. Interbank became Master Charge in 1966 and then MasterCard in 1979.[22]

    [edit]

    Following the passage of the Bank Holding Company Act of 1956 by the US Congress,[23] BankAmerica Corporation was established for the purpose of owning and operating Bank of America and its subsidiaries.

    Bank of America expanded outside California in 1983, with its acquisition, orchestrated in part by Stephen McLin, of Seafirst Corporation of Seattle, Washington, and its wholly owned banking subsidiary, Seattle-First National Bank.[24] Seafirst was at risk of seizure by the federal government after becoming insolvent due to a series of bad loans to the oil industry. BankAmerica continued to operate its new subsidiary as Seafirst rather than Bank of America until the 1998 merger with NationsBank.[24]

    BankAmerica experienced huge losses in 1986 and 1987 due to the placement of a series of bad loans in the Third World, particularly in Latin America.[citation needed] The company fired its CEO, Sam Armacost in 1986. Though Armacost blamed the problems on his predecessor, A.W. (Tom) Clausen, Clausen was appointed to replace Armacost.[citation needed] 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, does us bank check credit for checking account BankAmerica rebuffed it, mostly by selling operations.[25] 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.[citation needed]

    BankAmerica's next big acquisition came in 1992. The company acquired 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. This represented, at the time, the largest bank acquisition in history.[26] 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. The Washington branches were divided and sold to West One Bancorp (now U.S. Bancorp) and KeyBank.[27] Later that year, BankAmerica expanded into Nevada by acquiring Valley Bank of Nevada.[28]

    In 1994 BankAmerica acquired the Continental Illinois National Bank and Trust Co. of Chicago. At the time, no bank possessed the resources to bail out Continental, so the federal government operated the bank for nearly a decade.[29]Illinois then 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.[30]

    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 North Carolina's fast-growing NationsBank Corporation, and to third in 1998 behind First Union Corp.[citation needed]

    Bank of America logo used from 1998 to 2018

    On the capital markets side, the acquisition of Continental Illinois helped BankAmerica to build a leveraged finance origination- and distribution business, which allowed the firm's existing broker-dealer, BancAmerica Securities (originally named BA Securities), to become a full-service franchise.[31] In addition, in 1997, BankAmerica acquired Robertson Stephens, a San Francisco–based investment bank specializing in high technology for $540 million.[32] Robertson Stephens was integrated into BancAmerica Securities, and the combined subsidiary was renamed "BancAmerica Robertson Stephens".[33]

    Merger of NationsBank and BankAmerica[edit]

    Logo of the former Bank of America (BA), 1969–1998

    In 1997, BankAmerica lent hedge fundD. E. Shaw & Co. $1.4 billion in order fidelity bank and trust anamosa iowa run various businesses for the bank.[34] However, D.E. Shaw suffered significant loss after the 1998 Russia bond default.[35][36]NationsBank of Charlotte acquired BankAmerica in October 1998 in what was the largest bank acquisition in history at that time.[37]

    While NationsBank was the nominal survivor, the merged bank took the better-known name of Bank of America. Hence, the holding company was renamed Bank of America Corporation, while NationsBank, N.A. merged with Bank of America NT&SA to form Bank of America, N.A. as the remaining legal bank entity.[38] The combined bank operates under Federal Charter 13044, which was granted to Giannini's Bank of Italy on March 1, 1927. However, the merged company was and still is headquartered in Charlotte, and retains NationsBank's pre-1998 stock price history. All U.S. Securities and Exchange Commission (SEC) filings before 1998 are listed under NationsBank, not Bank of America. NationsBank president, chairman, and CEO Hugh McColl, took on the same roles with the merged company.[citation needed]

    In 1998, Bank of America possessed combined assets of $570 billion, as well as 4,800 branches in 22 states.[citation needed] Despite the 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.[39] The broker-dealer, NationsBanc Montgomery Securities, was named Banc of America Securities in 1998.[citation needed]

    2001 to present[edit]

    Typical Bank of America branch in Los Angeles

    In 2001, 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.[40] 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.[40] 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. The Federal 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, 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.

    Bank of America operated under the name BankBoston in many other Latin American countries, including Brazil. In May 2006, Bank of America and Banco Itaú (Investimentos Itaú S.A.) 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, in exchange for Itaú shares. The deal was signed in August 2006.

    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 bank of america las vegas near me 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. 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, 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 fcf online 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.

    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.[41]

    On September 14, 2007, Bank of America won approval from the Federal Reserve to acquire LaSalle Bank Corporation from 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. 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 acquisition also included the Chicago Marathon event, which ABN AMRO acquired in 1996. Bank of America took over the event starting with the 2007 race.

    The deal increased Bank of America's presence in Illinois, Michigan, 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.[42]

    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, 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.[43][44]

    Acquisition of Countrywide Financial[edit]

    On August 23, 2007, the company announced a $2 billion repurchase agreement for Countrywide Financial. 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.[45]

    On January 11, 2008, Bank of America announced that it would buy Countrywide Financial for $4.1 billion.[46] In March 2008, it was reported that the Federal Bureau of Investigation (FBI) was investigating Countrywide for possible fraud relating to home loans and mortgages.[47] This news did not hinder the acquisition, which was completed in July 2008,[48] giving the bank a substantial market share of the mortgage business, and access to Countrywide's resources for servicing mortgages.[49] 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.[50]

    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.[51] 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.[52] Countrywide Financial has changed its name to Bank of America Home Loans.

    Chart showing the trajectory of BOA share value and transaction volume during the 2007–2009 financial crisis

    In December 2011, the Justice Department announced a $335 million settlement with Bank of America over discriminatory lending practice at Countrywide Financial. Attorney GeneralEric 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.[53]

    Acquisition of Merrill Lynch[edit]

    On September 14, 2008, Bank of America announced its intention to purchase Merrill Lynch & Co., Inc. in an first central savings bank 30th ave deal worth approximately $50 billion. Merrill Lynch was at the time within days of collapse, and the acquisition effectively saved Merrill from bankruptcy.[54] 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.[55] Lehman Brothers filed for bankruptcy the same day Bank of America announced its plans to acquire Merrill Lynch.[56] This acquisition made Bank of America the largest financial services company in the world.[57]Temasek Holdings, the largest shareholder of Merrill Lynch & Co., Inc., briefly became one of the largest shareholders of Bank of America, with a 3% stake.[58] However, taking a loss Reuters estimated at $3 billion, the Singaporesovereign wealth fund sold its whole stake in Bank of America in the first quarter of 2009.[59]

    Shareholders of both companies approved the acquisition on December 5, 2008, and the deal closed January 1, 2009.[60] Bank of America had planned to retain various members of the then Merrill Lynch's CEO, John Thain's management team after the merger.[61] 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, left just one of Thain's hires in place: Tom Montag, head of sales and trading.[62]

    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[63] 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, 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, 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[6] that he best bb cream for combination skin 2018 some misgivings about the acquisition of Merrill Lynch and that federal official pressured him to proceed with the deal or face losing his job and endangering the bank's relationship with federal regulators.[64]

    Lewis' statement is backed up by internal emails subpoenaed by Republican lawmakers on the House Oversight Committee.[65] 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, 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.

    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.[66] As the credit crisis eased, losses at Merrill Lynch subsided, 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.[67][68]

    On September 28, 2012, Bank of America settled the class action lawsuit over the Merrill Lynch acquisition and will pay $2.43 billion.[69] This was one of the first major securities class action lawsuits stemming from the financial crisis of 2007–2008 to settle. Many major financial institutions had a stake in this lawsuit, including Chicago Clearing Corporation, hedge funds, and bank trusts, due to the belief that Bank of America stock was a sure investment.

    Federal Troubled Asset Relief Program[edit]

    On January 16, 2009, Bank of America received $20 billion and a guarantee of $118 billion in potential losses from the U.S. government through the Troubled Asset Relief Program (TARP).[70] This was in addition to the $25 billion given to the bank 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 Merrill Lynch.[71] 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.[72] Then CEO Ken Lewis was quoted as claiming "We are still lending, and we are lending far more because of the TARP program." 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.

    According to an article in The New York Times published on March 15, 2009, Bank of America received an additional $5.2 billion in government bailout money via the bailout of American International Group.[73]

    As a result of its federal bailout and management problems, 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". 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.[74]

    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. 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, 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."[75][76]

    Bonus settlement[edit]

    On August 3, 2009, Bank of America agreed to pay a $33 million fine, without admission or denial of charges, to the U.S. 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. The issue was originally investigated by New York Attorney GeneralAndrew Cuomo, who commented after the suit and announced a 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." 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."[77] A federal judge, Jed Rakoff, in an unusual action, refused to approve the settlement on August 5.[78] A first hearing before the judge on August 10 was at times heated, and he was "sharply critic[al]" 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; at least one person received a more than $33 million bonus.[79]

    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, 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," . "The idaho food bank hours 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. And all this is done at the expense, not only of the shareholders but also of the truth."[80]

    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". 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, United States District Court for the Southern District of New York.[81]

    Investigations also were held on this issue in the United States House Committee on Oversight and Government Reform,[80] under chairman Edolphus Towns (D-NY)[82] and in its investigative Domestic Policy Subcommittee under Kucinich.[83]

    Fraud[edit]

    In 2010, the U.S. government accused the bank 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, including $25 million to the Internal Revenue Service and $4.5 million to the state attorney general, to the affected organizations to settle the allegations.[84]

    Former bank official Douglas Campbell pleaded guilty to antitrust, conspiracy, and wire fraud charges. As of January 2011[update], other bankers and brokers are under indictment or investigation.[85]

    On October 24, 2012, the top federal prosecutor in Manhattan filed a lawsuit alleging that Bank of America fraudulently cost American taxpayers more than $1 billion when Countrywide Financial sold toxic mortgages to Fannie Mae and Freddie Mac. The scheme was called 'Hustle', or High Speed Swim Lane.[86][87] On May 23, 2016, the Second U.S. Circuit Court of Appeals ruled that the finding of fact by the jury that low quality mortgages were supplied by Countrywide to Fannie Mae and Freddie Mac in the "Hustle" case supported only "intentional breach of contract," not fraud. The action, for civil fraud, relied on provisions of the Financial Institutions Reform, Recovery and Enforcement Act. The decision turned on lack of intent to defraud at the time the contract to supply mortgages was made.[88]

    Downsizing (2011 to 2014)[edit]

    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.[89]

    In December 2011, Forbes ranked Bank of America's financial wealth 91st out of the nation's largest 100 banks and thrift institutions.[90]

    Bank of America cut around 16,000 jobs in a quicker fashion by the end of 2012 as revenue continued to decline because of new regulations and a slow economy. This put a plan one year ahead of time to eliminate 30,000 jobs under a cost-cutting program, called Project New BAC.[91] In the first quarter of 2014, Berkshire bank purchased 20 Bank of America branches in Central and eastern New York for 14.4 million dollars. The branches were from Utica/Rome region and down the Mohawk Valley east to the capital region.

    In April and May 2014, Bank of America sold two dozen branches in Michigan to Huntington Bancshares. The locations were converted to Huntington National Bank branches in September.[92]

    As part of its new strategy Bank of America is focused on growing its mobile banking platform. As of 2014[update], Bank of America has 31 million active online users and 16 million mobile users. Its retail banking branches have decreased to 4,900 as a result of increased mobile banking use and a decline in customer branch visits. By 2018, the number of mobile users has increased to 25.3 million and the number of locations fell to 4,411 at the end of June.[93]

    Sale of stake in China Construction Bank[edit]

    In 2005, Bank of America acquired a 9% stake in China Construction Bank, one of the Big Four banks in China, for $3 billion.[94] It represented the company's largest foray into China's growing banking sector. Bank of America 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.[95] In November 2011, Bank of America announced plans to divest most of its stake in the China Construction Bank.[96]

    In September 2013, Bank of America sold its remaining stake in the China Construction Bank for as much as $1.5 billion, marking the firm's full exit from the country.[97]

    $17 billion settlement with Justice Department[edit]

    In August 2014, Bank of America agreed to a near–$17 billion deal to settle claims against it relating to the sale of toxic mortgage-linked securities including subprime home loans, in what was believed to be the largest settlement in U.S. corporate history. The bank agreed with the U.S. Justice Department to pay $9.65 billion in fines, and $7 billion in relief to the victims of the faulty loans which included homeowners, borrowers, pension funds and municipalities.[98] Real estate economist Jed Kolko said the settlement is a "drop in the bucket" compared to the $700 billion in damages done to 11 million homeowners. Since the settlement covered such a substantial portion of the market, he said for most consumers "you're out of luck."[99]

    Much of the government's prosecution was based on information provided by three whistleblowers – Shareef Abdou (a senior vice president at the bank), Robert Madsen (a professional appraiser employed by a bank subsidiary), and Edward O'Donnell (a Fannie Mae official). The three men received $170 million in whistleblower awards.[100]

    [edit]

    Bank of America has formed a partnership with the United States Department of Defense creating a newly chartered bank DOD Community Bank[101] ("Community Bank") providing full banking services to military personnel at 68 branches and ATM locations[102] on U.S. military installations in Guantanamo Bay Naval BaseCuba, Diego Garcia, Germany, Japan, Italy, Kwajalein Atoll, South Korea, the Netherlands, and the United Kingdom. Even though Bank of America operates Community Bank, customer services are not interchangeable between the two financial institutions,[103] meaning that a Community Bank customer cannot go to a Bank of America branch and withdraw from their account and vice versa. Deposits made into checking and savings accounts are insured by the Federal Deposit Insurance Corporation up to $250,000 despite the fact that none of Community's operating branches are located within the jurisdictional borders of the United States.

    Decision not to finance makers of military-style guns[edit]

    In April 2018, Bank of America announced that it would stop providing financing to makers of military-style weapons such as the AR-15 rifle.[104] In announcing the decision, Bank of America referenced recent mass shootings and said that it wanted to "contribute in any way we can" to reduce them.

    Return to expansion (2015–present)[edit]

    In 2015, Bank of America began expanding organically, opening branches in cities where it previously did not have a retail presence. They started that year in Denver, followed by Minneapolis–Saint Paul and Indianapolis, in all cases having at least one of its Big Four competitors, with Chase Bank being available in Denver and Indianapolis, while Wells Fargo is available in Denver and the Twin Cities.[105] The Twin Cities market is also the home market of U.S. Bancorp, the largest non-Big Four rival.

    In January 2018, Bank of America announced an organic expansion of its retail footprint into Pittsburgh and surrounding areas, to supplement its existing commercial lending and investment businesses in the area. Before the expansion, Pittsburgh had been one of the largest US cities without a retail presence by any of the Big Four, with locally based PNC Financial Services (no. 6 nationally) having a commanding market share in the area;[105][106] this coincided with Chase making a similar expansion into Pittsburgh.[107] By the end of the fiscal year 2020, Bank of America had become Pittsburgh's 16th largest bank by deposits, which considering the dominance of PNC and BNY Mellon in the market is considered relatively impressive.[108] By 2021, Bank of America had moved up to 12th in the market.[109]

    In February 2018, Bank of America announced it would expand into Ohio across the state's three biggest cities (Cleveland, Columbus, and Cincinnati), which are strongholds of Chase.[110][111] Columbus serves as the bank's hub in Ohio due to its central location as the state's capital, its overall size and growth, and an existing Bank of America call center for its credit card division in suburban Westerville. Within a year of entering Ohio, Columbus quickly saw the bank become the 5th largest in the market by deposits, behind only banks either based in Ohio (Fifth Third Bank and locally-based Huntington Bancshares) or have a major presence as a result of an acquisition of an Ohio-based institution (Chase and PNC), and ahead of US Bancorp (also with a large presence due to acquiring an Ohio-based bank), Ohio-based KeyBank, and several local institutions.[112] As of 2021, Bank of America is the 9th largest bank by deposits in all of Ohio.[113]

    Operations[edit]

    Bank of America generates 90% of its revenues in its domestic market. 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.[114]

    Consumer Banking[edit]

    Consumer Banking, the largest division in the company, provides financial services to consumers and small businesses including, banking, investments, and lending products including business loans, mortgages, and credit cards. It provides stockbroker services via Merrill Edge, an electronic trading platform. The consumer banking division represented 38% of the company's total revenue in 2016.[1] The company earns revenue from interest income, service charges, and fees. The company is also a mortgage servicer. It competes primarily with the retail banking arms of America's three other megabanks: Citigroup, JPMorgan Chase, and Wells Fargo. The Consumer Banking organization includes over 4,600 retail financial centers and approximately 15,900 automated teller machines.

    Bank of America is a member of the Global ATM Alliance, a joint venture of several major international banks that provides for reduced fees for consumers using their ATM card or check card at another bank within the Global ATM Alliance when traveling internationally. This feature is restricted to withdrawals using a debit card and users are still subject to foreign currency conversion fees, credit card withdrawals are still subject to cash advance fees and foreign currency conversion fees.

    Global Banking[edit]

    The Global Banking division provides banking services, including investment banking and lending products to businesses. It includes the businesses of Global Corporate Banking, Global Commercial Banking, Business Banking, and Global Investment Banking. The division represented 22% of the company's revenue in 2016.[1]

    Before Bank of America's acquisition of Merrill Lynch, the Global Corporate and Investment Banking (GCIB) business operated as Banc of America Securities LLC. 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. 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[edit]

    The Global Wealth and Investment Management (GWIM) division manages investment assets of institutions and individuals. It includes the businesses of Merrill Lynch Global Wealth Management and U.S. Trust and represented 21% of the company's total revenue in 2016.[1] It is among the 10 largest U.S. wealth managers. It has over $2.5 trillion in client balances.[1] 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.

    Global Markets[edit]

    The Global Markets division offers services to institutional clients, including trading in financial securities. The division provides research and other services such as market maker, and risk management using derivatives. The division represented 19% of the company's total revenues in 2016.[1]

    Labor[edit]

    On April 9, 2019, the company announced minimum wage will be increased beginning May 1, 2019, to $17.00 an hour until it reaches a goal of $20.00 an hour in 2021.[115]

    Offices[edit]

    The Bank of America principal executive offices are located in the Bank of America Corporate Center, Charlotte, North Carolina. The skyscraper is located at 100 North Tryon Street, and stands at 871 ft (265 m), having been completed in 1992.

    In 2012, Bank of America cut ties to the American Legislative Exchange Council (ALEC).[116]

    International offices[edit]

    Bank of America's Global Corporate and Investment Banking has its U.S. headquarters in Charlotte, European headquarters in Dublin, and Asian headquarters in Hong Kong and Singapore.[117]

    Corporate Governance[edit]

    Charitable efforts[edit]

    Bank of America volunteers at the Los Angeles LGBT pride parade in 2011

    In 2007, the bank offered employees a $3,000 rebate for the purchase of hybrid vehicles. The company also provided a $1,000 rebate or a lower interest rate for customers whose homes qualified as energy efficient.[119] 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.[120] In 2010, the bank completed construction of the 1 Bank of America Center in Charlotte center city. The tower, and accompanying hotel, is a LEED-certified building.[121]

    Bank of America has also donated money to help health centers in Massachusetts[122] and made a $1 million donation in 2007 to help homeless shelters in Miami.[123]

    In 1998, the bank made a ten-year commitment of $350 billion to provide affordable mortgages, build affordable housing, support small businesses and create jobs in disadvantaged neighborhoods.[124]

    In 2004, the bank pledged $750 million over a ten-year period for community development lending and affordable housing programs.[125]

    Chief Executive Officer[edit]

    List of CEOs[edit]

    1. Hugh McColl (1998–2001)[126]
    2. Ken Lewis (2001–2009)[127]
    3. Brian Moynihan (2010– )[128]

    CEO Pay Ratio[edit]

    Pursuant to Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, publicly traded companies are required to disclose (1) the median total annual compensation of all employees other than the CEO and (2) the ratio of the CEO's annual total compensation to that of the median employee (CEO Pay Ratio).[129]

    Total 2018 compensation for Brian Moynihan, CEO, amounted to $22,765,354, and total compensation of the median employee was determined to be $92,040. The resulting pay ratio is estimated to be 247:1.[130]

    Lawsuits[edit]

    In August 2011, Bank of America was sued for $10 billion by American International Group. Another lawsuit filed in September 2011 pertained to $57.5 billion in mortgage-backed securities Bank of America sold to Fannie Mae and Freddie Mac.[131] That December, Bank of America agreed to pay $335 million to settle a federal government claim that Countrywide Financial had discriminated against Hispanic and African-American homebuyers from 2004 to 2008, prior to being acquired by BofA.[132] In September 2012, BofA settled out of court for $2.4 billion in a class action lawsuit filed by BofA shareholders who felt they were misled about the purchase of Merrill Lynch.[133]

    On February 9, 2012, it was announced that the five largest mortgage servicers (Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo) agreed to a historic settlement with the federal government and 49 states.[134] The settlement, known as the National Mortgage Settlement (NMS), required the servicers to provide about $26 billion in relief to distressed homeowners and in direct payments to the states and the federal government. This settlement amount makes the NMS the second largest civil settlement in U.S. history, only trailing the Tobacco Master Settlement Agreement.[135] The five banks were also required to comply with 305 new mortgage servicing standards. Oklahoma held out and agreed to settle with the banks separately.

    On October 24, 2012, American federal prosecutors filed a $1 billion civil lawsuit against Bank of America for mortgage fraud under the False Claims Act, which provides for possible penalties of triple the damages suffered. The government asserted that Countrywide, which was acquired by Bank of America, rubber-stamped mortgage loans to risky borrowers and forced taxpayers to guarantee billions of bad loans through Fannie Mae and Freddie Mac. The suit was filed by Preet Bharara, the United States attorney in Manhattan, the inspector general of FHFA and the special inspector for the Troubled Asset Relief Program.[136] In March 2014, Bank of America settled the suit by agreeing to pay $6.3 billion to Fannie Mae and Freddie Mac and to buy back around $3.2 billion worth of mortgage bonds.[137]

    In April 2014, the Consumer Financial Protection Bureau (CFPB) ordered Bank of America to provide an estimated $727 million in relief to consumers harmed by practices related to credit card add-on products. According to the Bureau, roughly 1.4 million customers were affected by deceptive marketing of add-on products, and 1.9 million customers were illegally charged for credit monitoring and reporting services they were not receiving. The deceptive marketing misconduct involved telemarketing scripts containing misstatements and off-script sales pitches made by telemarketers that were misleading and omitted pertinent information. The unfair billing practices involved billing customers for privacy-related products without having the authorization necessary to perform the credit monitoring and credit report retrieval services. As a result, the company billed customers for services they did not receive, unfairly charged consumers for interest and fees, illegally charged approximately 1.9 million accounts, and failed to provide the product benefit.[138]

    A $7.5 million settlement was reached in April 2014 with former chief financial officer for Bank of America, Joe L. Price, over allegations that the bank's management withheld material information related to its 2008 merger with Merrill Lynch.[139] In August 2014, the United States Department of Justice and the bank agreed to a $16.65 billion agreement over the sale of risky, mortgage-backed securities before the Great Recession; the loans behind the securities were transferred to the company when it acquired banks such as Merrill Lynch and Countrywide in 2008.[140] As a whole, the three firms provided $965 billion of mortgage-backed securities from 2004 to 2008.[141] The settlement was structured to give $7 billion in consumer relief and $9.65 billion in penalty payments to the federal government and state governments; California, for instance, received $300 million to recompense public pension funds.[140][142] The settlement was the largest in United States history between a single company and the federal government.[143][144]

    In 2018, former senior executive Omeed Malik filed bank of america las vegas near me $100 million arbitration case through FINRA against Bank of America after the company investigated him for alleged sexual misconduct.[145] His defamation claim was on the basis of retaliation, breach of contract, and discrimination against his Muslim background.[146] Malik received an eight-figure settlement in July.[147][148]

    Controversies[edit]

    Parmalat controversy[edit]

    Parmalat SpA is a multinational Italian dairy and food corporation. 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.[149][150] 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. In Parma, the banks were still charged with covering up the fraud.[151]

    Consumer credit controversies[edit]

    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.[152][153] 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.[154][155][156] 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.[157]

    Purchasing of 300 Internet Domains in apparent premtive PR campaign.[edit]

    In October 2009, Julian Assange of WikiLeaks claimed 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.[158]

    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".[159] In response to this announcement, Bank of America stock dropped 3.2%.[160]

    In December 2010, Bank of America announced that it would no longer service requests to transfer funds to WikiLeaks,[161] 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."[162]

    Later in December, it was announced that Bank of America purchased more than 300 Internet domain names in an attempt to preempt bad publicity that might be forthcoming in the anticipated WikiLeaks release. The domain names included as BrianMoynihanBlows.com, BrianMoynihanSucks.com and similar names for other top executives of the bank.[163][164][165][166]

    Sometime before August 2011, WikiLeaks claimed that 5 GB of Bank of America leaks was part of the deletion of over 3500 communications by Daniel Domscheit-Berg, a now ex-WikiLeaks volunteer.

    Settled $228 million lawsuit claiming involvement in kickbacks and inflating insurance costs forced on homeowners.[169][edit]

    On March 14, 2011, members of hacker group Anonymous began releasing emails said to be from a former Bank of America employee. According to the group, the emails documented alleged "corruption and fraud". The source, identified publicly as Brian Penny,[170] was 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.[171]

    On April 7, 2014, Bank of America and QBE settled a class-action lawsuit stemming from the leak for $228 million.[172]

    "Repeatedly has deceived" Mortgagors, and Then "impeding" Investigation - said State of Arizona[edit]

    In 2010 the state of Arizona launched an investigation into Bank of America for misleading homeowners who sought to modify their mortgage loans. 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 remove some information criticizing the bank online.[173]

    Investment in coal mining[edit]

    On May 6, 2015, Bank of America announced it would reduce its financial exposure to coal companies. The announcement came following pressure from universities and environmental groups. The new policy was announced as part of the bank's decision to continue to reduce credit exposure over time to the coal mining sector.

    Competition[edit]

    Bank of America's major competitors are Wells Fargo, Santander, PNC Financial Services, Ally Financial, Capital One, Chase Bank, US Bank, Citizens Financial Group, Citigroup and M&T Bank.

    Notable buildings[edit]

    Notable buildings which Bank of America currently occupies include:

    • Bank of America Tower in Phoenix, Arizona
    • Bank of America Center in Los Angeles, California
    • Transamerica Pyramid, in San Francisco
    • 555 California Street, formerly the Bank of America Center and world headquarters, in San Francisco, California
    • Bank of America Plaza in Fort Lauderdale, Florida
    • Bank of America Tower in Jacksonville, Florida
    • Bank of America Financial Center (Brickell) and Bank of America Museum Tower (Downtown Miami) in Miami, Florida
    • Bank of America Center in Orlando, Florida
    • Bank of America Tower in St. Petersburg, Florida
    • Bank of America Plaza in Tampa, Florida
    • Bank of America Plaza in Atlanta, Georgia
    • Bank of America Building, formerly the LaSalle Bank Building in Chicago, Illinois
    • One City Center, often called the Bank of America building due to signage rights, in Portland, Maine
    • Bank of America Building in Baltimore, Maryland
    • Bank of America Plaza in St Louis, Missouri
    • Bank of America Tower in Albuquerque, New Mexico
    • Bank of America Tower in New York City
    • Bank of America Corporate Center in Charlotte, North Carolina (the corporate headquarters)
    • Bank of America Plaza in Charlotte, North Carolina
    • Bank of America Tower in Charlotte, North Carolina
    • Hearst Tower in Charlotte, North Carolina
    • Bank of America Plaza in Dallas, Texas
    • Bank of America Tower in Midland, Texas
    • Bank of America Plaza in San Antonio, Texas
    • Bank of America Fifth Avenue Plaza in Seattle, Washington
    • Columbia Center air fryer oven walmart Seattle, Washington
    • Bank of America Tower in 5 3 bank hours friday Kong
    • City Place I, also known as United Healthcare Center, in Hartford, Connecticut (the tallest building in Connecticut)
    • 9454 Wilshire Boulevard in Beverly Hills, California

    Former buildings[edit]

    The Robert B. Atwood Building in Anchorage, Alaska, was at one time named the Bank of America Center, renamed in conjunction with the bank's acquisition of building tenant Security Pacific Bank. This particular branch was later acquired by Alaska-based Northrim Bank and moved across the street to the Linny Pacillo Parking Garage.

    The Bank of America Building (Providence) opened in 1928 as the Industrial Trust Building and remains the tallest building in Rhode Island. Through a number of mergers it was later known as the Industrial National Bank building and the Fleet Bank building. The building was leased by Bank of America from 2004 to 2012 and has been vacant since March 2013. The building is commonly known as the Superman Building based on a popular belief that it was the model for the Daily Planet building in the Superman comic books.

    The Miami Tower iconic in its appearance in Miami Vice was known as the Bank of America Tower for many years. It is located in Downtown Miami. On April 18, 2012, the AIA's Florida Chapter placed it on its list of Florida Architecture: 100 Years. 100 Places as the Bank of America Tower.[175]

    TC Energy Center in Houston, Texas, was previously known as Bank of America Center until Bank of America ended its tenancy in the building in June 2019. Designed in the postmodern architecture style by renowned architect Philip Johnson, the building has been one of the most iconic and recognizable landmarks of the downtown Houston skyline since it was completed in 1983.[176]

    See also[edit]

    References[edit]

    1. ^ abcdefghijkl"Bank of America Corporation 2020 Annual Report (Form 10-K)"(PDF). sec.gov. U.S. Securities and Exchange Commission. February 2018. Archived from the original on March 3, 2018. Retrieved April 2, 2020.
    2. ^"2020 Proxy Statement – Bank of America Corporation". Bank of America. Retrieved December 21, 2020.
    3. ^"Warren Buffett pumps another $400 million into Bank of America, boosting his stock purchases to $1.2 billion in 8 days. This move by Buffett came right before the Ripple partnership announcement". Markets Insider. Retrieved July 28, 2020.
    4. ^ONeil, Erin (August 2, 2016). "The Biggest Banks in the United States". The Balance.
    5. ^"Who Made America? – Innovators – A.P. Giannini". PBS.org. Archived from the original on January 7, 2010. Retrieved December 17, 2009.
    6. ^ abCohan, William D. (September 2009), "An offer he couldn't refuse", The Atlantic
    7. ^Team, Trefis (June 14, 2018). "Five Largest U.S. Investment Banks Have Over $1.5 Trillion In Securities Trading Assets". Forbes. Archived from the original on August 19, 2018. Retrieved August 17, 2018.
    8. ^Shelby-Green, Michael (June 11, 2018). "The 15 biggest wealth managers in the world". Business Insider. Archived from the original on August 19, 2018. Retrieved August 11, 2018.
    9. ^B of A has operations (for example, Merrill Lynch offices), but no retail branches in Alabama, Alaska, Hawaii, Louisiana, Mississippi, Montana, Nebraska, North Dakota, South Dakota, Vermont, West Virginia, Wisconsin, or Wyoming. Bank of America Branches and ATMsArchived July 1, 2014, at the Wayback Machine. Click "Browse first financial bank hopkinsville ky routing number by state." © 2014 Bank of America Corporation. Retrieved June 30, 2014.
    10. ^"Bank of America on the Forbes Global 2000 List". Forbes. Archived from the original on July 28, 2018. Retrieved August 11, 2018.
    11. ^"Fortune 500 Companies 2020: Who Made the List". Fortune. Archived from the original on November 10, 2018. Retrieved January 2, 2021.
    12. ^"World's best bank 2018: Bank of America". Euromoney. July 11, 2018. Archived from the original on August 19, 2018. Retrieved August 10, jose miguel carrera 298 santiago centro.
    13. ^ ab"Bank of America

      Las Vegas Bank ATM Locations

      Las Vegas Deals

      Avoiding ATM's at Las Vegas casinos is always a smart way to save money. However there are times when you just have to make that withdrawal. Losing money on the casino floor is one thing but losing it to an ATM machine in the form of ATM fees can sometimes be more irritating.

      Finding an ATM Machine on a casino floor is not a problem because they are everywhere. However, you need to know that Las Vegas ATM fees are high. Fees average $3 - $5 per transaction and you will quickly realize why it doesn't make sense to withdraw $20 or $40 for dinner.

      There are however ways you can avoid or reduce the high ATM fees in Las Vegas. The main thing you should do is avoid the ATM's located on the casino floor because they will charge you the highest fee.

      Although there are no banks on the Vegas strip, there are a few non-casino owned ATMs on the strip. Knowing their location can save you a lot of money. These are bank ATMs which are free to bank customers and their fees are usually lower even for non-bank customers.

      Below is a list of bank ATM locations on or within a short walk from the Las Vegas strip

      Bank of America

      Bank of America is one of the few banks with an ATM located on the Strip

      M&M World - 4th Floor
      3785 Las Vegas Blvd S
      Las Vegas, NV 89109
      ATM Only Location: ATM Open 24 hours. Location: On the Strip
      T-Mobile Arena (Three Bank of America ATMs)
      3780 Las Vegas Blvd. South
      Las Vegas, NV 89158
      Located between Park MGM Las Vegas and New York-New York Hotel & Casino

      T-Mobile Arena provides two Bank of America Automated Teller Machines (ATM's) inside the buildling, both are located on the Main Concourse by Section 13 near the Main Guest Service Center and in Section 7 near the Jack Daniels Lounge. An additional ATM is located on the exterior of the venue next to the Box Office.


      Las Vegas City Hall
      495 S Main St
      Las Vegas NV 89101
      ATM hours vary at this location
      Financial Center & ATM
      Bank of America Spring Mountain/Wynn
      4080 Spring Mountain Rd
      Las Vegas, NV 89102
      Financial Center Open 9:00 a.m. - 5:00 p.m.
      ATM Open 24 hours
      Bank of America Plaza
      300 S 4th St
      Las Vegas NV 89101
      Financial Center Open 9:00 a.m. - 5:00 p.m.
      ATM Open 24 hours
      Location: Downtown
      702-654-7900
      Wells Fargo Bank

      There are no Wells Fargo ATM's located on the Vegas Strip but there are 2 locations between the Strip and Downtown. The best way to get to them is by riding the Deuce Bus or the Centennial Express(CX).

      Wells Fargo card-free ATMs Locations (NFC-Enabled)
      530 Las Vegas Blvd S, Las Vegas, NV 89101
      Tel: 800-869-3557

      Located - Downtown


      Well Fargo Bank + ATMLas Vegas Blvd S and Charleston 1121 Las Vegas Blvd S, Las Vegas, NV 89104
      Tel: 702-464-3138

      Located - Downtown


      Well Fargo Bank + ATMUNLV Center 4626 S Maryland Pkwy STE B, Las Vegas, Bank of america las vegas near me 89119
      Tel: 702-739-5843

      Located - UNLV Campus

      Wells Fargo Bank

      There are lots of Wells Fargo ATM locations at Las Vegas McCarran International Airport. You might consider making a withdrawal at the airport before heading into town.

      Las Vegas McCarran International Airport
      5757 Wayne Newton Blvd
      Las Vegas, NV 89119
      Tel: 800-869-3557

      All Locations are ATM Withdrawals only - no deposits and open 24 hours

      Terminal 1 B GatesTerminal C Ext.
      Baggage Claim 2Airport Esplanade
      Terminal D1Terminal D2
      Terminal D3Terminal 3 Intl. Baggage Claim
      Terminal 3 West SideTerminal 3 East Side
      Terminal 3 Baggage ClaimT3 Intl. Ticket Counters

      McCarran Rent-A-Car Center
      7135 Gilespie
      Las Vegas, NV 89119
      Phone: 800-869-3557 Well Fargo Bank + ATM
      Las Vegas Airport
      5757 Wayne Newton Blvd.
      Las Vegas, NV, 89111
      Phone: 702-765-1551
      No-Fee Allpoint ATM

      Canadian bankers on the Interac and Plus ATM Networks can find the no-fee U.S. ATM in Las Vegas with the Allpoint green logo at the following locations.

      CVS
      3300 S Las Vegas Blvd
      Las Vegas, NV, 89109
      Walgreens
      3339 S Las Vegas Blvd
      Las Vegas, NV, 89109
      Walgreens
      3025 S Las Vegas Blvd
      Las Vegas, NV, 89109
      Walgreens
      3397 S Las Vegas Blvd Ste 1
      Las Vegas, NV, 89109
      Monorail Harrah's & The LINQ Station
      3511 Las Vegas Blvd S Las Vegas, NV, 89109
      Monorail Flamingo & Caesars Palace Station
      3577 Las Vegas Blvd S
      Las Vegas, NV, 89109
      Las Vegas Convention Center Station
      3300 Paradise Rd
      Las Vegas, NV, 89109
      **No-Fee Allpoint® ATM
      Maestro CardFind all Maestro ATM Card locations with the Las Vegas Strip
      Click on this linkand search for ATMs within the "89109" Zip Code.
      STAR®

      Find STAR surcharge free ATM locations and point-of-sale terminals around the Las Vegas Strip

      WALGREENS
      3339 S Las Vegas Blvd
      Las Vegas, NV 89109
      Surcharge Free ATM
      CVS
      3300 S Las Vegas Blvd
      Las Vegas, NV 89109
      Surcharge Free ATM
      7-ELEVEN
      3001 Las Vegas Blvd S
      Las Vegas, NV 89109
      Surcharge Free ATM
      LV MONORAIL - BALLYS / PARIS Station
      3651 Las Vegas Blvd S
      Las Vegas, NV 89109
      Surcharge Free ATM
      Citibank Bank Of Nevada
      3785 S. Las Vegas Blvd
      Las Vegas, NV 89109
      Money Pass ATM Island Bar and Grill
      2660 Maryland Parkway #26
      Las Vegas, NV 89109
      ATM- 0 miles
      7 Eleven ATM 7ELEVEN, INC.
      3001 Las Vegas Blvd.
      Las Vegas, NV 89109
      ATM- 0.55 miles
      Money Pass ATM Sands Convention Center
      201 E. Sands Ave
      Las Vegas, NV 89109
      ATM- 0.56 miles
      Money Pass ATM Bank Of Nevada
      8505 W. CENTENNIAL PW
      Las Vegas, NV 89149
      ATM- 0.96 miles
      7 Eleven ATM 7ELEVEN, INC.
      3716 South Paradise Rd
      Las Vegas, NV 89109
      ATM- 1.04 miles
      7 Elevendewey beach delaware house rentals ATM 7ELEVEN, INC.
      2502 Teddy Dr.
      Las Vegas, NV 89102
      ATM- 1.1 miles
      7 Eleven 7-Eleven
      3716 South Paradise Rd
      Las Vegas, NV 89109
      Money PassATM U.S. Bank Nevada Financial Center
      2300 W. SAHARA Ave
      Las Vegas, NV 89102
      ATM- 1.11 miles

      Las Vegas Strip Map

      Las Vegas Strip Map

      Related Content

      Источник: https://www.lasvegashowto.com/las-vegas-atm-machines

      Wells fargo atm locations

      wells fargo atm locations Wells Fargo ATM serves Columbus, GA and is located in the 31909 ZIP code. Locations. Surcharge-Free ATMs and Branch Locations. Find 18 listings related to Wells Fargo Bank in Hagerstown on YP. - Jeppesen Terminal, and A, B and C Gates. Visa Global ATM Locator 2050 W. BECU members can access accounts and conduct transactions across the country by visiting CO-OP ATMs and partner credit union branch locations. Find 28 listings related to Wells Fargo Atms in Whitewater on YP. Print Mastercard ATM Locator guides you to the nearest ATM location with just a click. The assigned Fed RSSD ID of Wells Fargo Bank is 451965. E. As of today, Wells Fargo Bank is the 1st largest There are no Wells Fargo ATM's located on the Vegas Strip but there are 2 locations between the Strip and Downtown. wellsfargo. Digital wallet access is available at Wells Fargo ATMs for Wells Fargo Debit Cards and Wells Fargo EasyPay ® Cards in Wells Fargo-supported digital wallets. Availability may be affected by your mobile carrier Find 457 listings related to Atm Locations Wells Fargo in Oklahoma City on YP. It also has a filter if you’re interested only in Plus Alliance ATMs. ; Saturday from 9 a. Wells Fargo charges a flat $5 fee for withdrawing cash from international ATMs; however, this fee is waived for Portfolio by Wells Fargo® checking account holders with unlimited non-network ATM withdrawals. (New and existing customers) 24 hours a day, 7 days a week. Learn about daily withdrawal limits, resetting PIN numbers, reporting lost or stolen cards, and more at FAQ about ATM Cards. Discover ATM locator: Discover has 415,000 ATMs, so chances are good you’ll find one near you. Find ATMs from across the world quickly, easily & securely. D. Your mobile carrier’s message and data rates may apply. Wells Fargo card-free ATMs Locations (NFC-Enabled) 530 Las Vegas Blvd S, Las Vegas, NV 89101 Tel: 800-869-3557. You can find nationwide locations by selecting the Surcharge Free ATMs and Partner Credit Union filters before you search. Set up is easy - just add your Bank of America debit card to your digital wallet. May 08, 2015 · And to keep up with its 250 to 1,000 residents’ monetary needs, Wells Fargo established the ATM around 2000. Credit card is subject to credit qualification. Start Address: End Address: Print; Download To GPS; there are no locations within the map area. Main Hall of Terminal 2: open daily from 7:00 a. Currency Exchange at Lindbergh Terminal 1: Travelex (612-713-7483) at ticketing lobby, between doors 5 & 6 and a currency exchange office & ATM is at entrance to Concourse G entrance. Unfortunately, there is no free mobile app option. googletagmanager. Use any of the 85,000 conveniently located ATMs at your favorite retailer like Target, CVS, Kroger, Walgreens, Safeway, Circle K, Speedway, Winn Dixie, 7-Eleven as well as many of the convenient PenFed ATMs and branch locations. Availability may be affected by your mobile carrier’s coverage area. ATM/Cash Machines. 1)Have your Card out and ready to use as you approach an ATM. With over 55,000+ ATM locations, you can find one virtually anywhere by searching on the Allpoint location app. Level 2, Terminal A, Ticketing Lobby Level 2, near Gate A7 Level 2, near Gate A17 Level 2, Terminal B, Ticketing Lobby Level 2, Terminal B, Post-security Level 2, near Gate B1 Pre-Security, Houston Airport Marriott Level 2, Terminal C-D Walkway Level 2, near Gate C3 Level 2, near Gate C6 Level 2, near To locate the nearest MasterCard ® ATM Click on the MasterCard ® logo and you will be linked to their worldwide capital 1 account login of ATMs. 1. Learn more about digital wallets. 8. - Open Monday through Friday from 9 a. There are no Wells Fargo ATM's located on the Vegas Strip but there are 2 locations between the Strip and Downtown. +. Apple Pay uses near-field communication (NFC) for cardless ATM access. 5. Bank customer, you also have access to transact at MoneyPass Network ATMs without a surcharge fee. See reviews, photos, directions, phone numbers and more for Wells Fargo Bank locations in Lockport, NY. Eligibility for introductory rate(s), fees, and bonus rewards offers. html?id=GTM-W2GD88" height="0" width="0" style="display:none;visibility:hidden"></iframe> Visa Global ATM Locator Now it is easy to find an ATM thanks to Mastercard ATM locator. Use your MoneyPass ATM card at any of the ATMs listed on this site without paying a surcharge. F. 3 As a U. C. Because…” more. Use your smartphone to withdraw cash, make deposits, check balances and more at our Cardless ATM. AllPoint ATMs & Money Network Check Cashing. WELLS FARGO ATM - St. 4. US Bank ATMs are located in the Gateway Center, level 3 of the terminal, in Concourse A and Concourse B, and serve members in the following networks: FSV, Fastbank, Plus EBT, StarP, NyceP, Star, Nyce, Pulse, Euronet Cirrus Intl, CirrusP, Plus, Cirrus, Shazam. To locate the nearest MasterCard ® ATM Click on the MasterCard ® logo and you will be linked to their worldwide network of ATMs. To comply with requirements and recommendations from health officials and local governments, every person entering a Golden 1 branch must wear a face mask/covering. WELLS FARGO ATM. Mastercard ® ATM Alliance Location Search Instruction. com/ns. Louis. All cities Show all cities. Wells Fargo Bank currently operates with 5317 branches located in 37 states. Important information: As community reopening plans are subject to change, we recommend contacting your local branch prior to your visit to confirm their hours of operation and availability. See reviews, photos, directions, phone numbers and more for Wells Fargo Bank locations in Hagerstown, MD. We used to visit this location on our Vegas trips to avoid the finance charges at the casino ATMs. ATM & Branch Locator. In July 2018, California changed the network of surcharge-free ATMs for EBT cards. When at the ATM: Select your Bank of America debit card in your digital wallet. Use the Capital One Location Finder to find nearby Capital One locations, as well as online solutions to help you accomplish common banking tasks. com. The bank has most branches in California, Texas, Florida, North Carolina and New Jersey. WELLS FARGO ATM - Chesterfield - Missouri 17107 Chesterfield Airport Rd, #120 WELLS FARGO ATM - Gainesville - Missouri Us-160 & Mo-5 (800) 869-3557 WELLS FARGO ATM - Imperial - Missouri 1269 Main St Wells Fargo Bank ATMs Near Me Wells Fargo Bank Branches Near Me Hide Partner Locations Nearby Wells Fargo Bank ATMs and branches with location addresses, opening hours, phone numbers, and more information including directions and maps. In our ever-changing world, STAR is positioned to meet the needs of consumers and businesses today, and in the future. * Select locations only. There is a $500 ATM limit on debit cards. U. 1-800-869-3557. Fidelity bank and trust anamosa iowa. Here are a few tips on how you can help protect yourself when using an ATM. Hours of Operation in St. More detailed information can be found on a branch by selecting one of the options displayed. Louis, MO. Located - Downtown Aug 08, 2021 · Allpoint ATMs are surcharge-free with locations worldwide. Re: Banks and ATM's. Lower Level of Terminal 5: open daily from 8:00 a. 2 Locations in St. Get location hours, directions, customer service numbers and available banking services. With over 55,000 participating ATMs, your cash is never far away. You can find Allpoint ATMs virtually anywhere your travels may take you, throughout the United States and around the globe. Downtown. We’ll help you find the ATM machine nearest to you. 1% cash back on up to $3,000 in debit card purchases each month. Find a Chase branch and ATM in Michigan. Skip to main content. Just type your ZIP code in the box and check if you’d like to see surcharge-free Oct 21, 2021 · ATM ATMs are located in all terminals. Seaway Bank offers full banking services including foreign currency exchange services from two locations within O'Hare International Airport. Oct 21, 2021 · Banking/ATM Services at Chicago OHare ORD Airport. 1 That's fine if you've got sufficient funds in your account, but it can cause overdrafts, fees, and other problems if you don't. If you have requested a set of Money Network ® Checks 1, you can also use this Locator to find locations near you where you can cash them at no cost. Finding an ATM that won’t charge you an ATM surcharge fee (aka foreign ATM fee or out-of-network fee) is easy if you know where to look. Bank ATMs or partner ATMs. Browse all First Citizens Bank branch and ATM locations. 2 It's easy to find MoneyPass ATMs in your area. Wells Fargo offers more than 12,000 ATMs and approximately 4,900 retail banking branches coast to coast. Louis - Missouri 2801 Market St. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC,Member SIPC has popupa registered broker-dealer and non-bank affiliate of Wells Fargo & Company. MoneyPass offers a surcharge-free ATM experience for qualified cardholders at a variety of convenient locations throughout the United States. Wells Fargo Locations Near Me Hide Partner Locations Wells Fargo Bank ATMs and branches in Cape May, United States with nearby location addresses, opening hours, phone numbers, and more information including directions and maps. Availability may be affected by your mobile carrier Find the best Wells Fargo Atm near you on Yelp - see all Wells Fargo Atm open now. Surcharge-Free ATMs. All banks have them, some even two! Many of the ones you find out and about are owned by independents, so if your need is more than one or two hundred dollars, use the bank ones, as the independents only give one or two hundred. 31 reviews. If an address has more than one ATM, please look for the MoneyPass logo on a sign at the ATM or displayed on the ATM screen to avoid paying a surcharge. 612-727-1725) located at ticketing lobby, between doors 5 & 6 MoneyPass offers a surcharge-free ATM experience for qualified cardholders at a variety of convenient locations throughout the United States. A note about social media: Opinions, comments and actions taken on Social Media are those of the third party and do not necessarily reflect the views of the creator Find Chase branch and ATM locations - Grays Harbor - Atm. Seaway Bank. 15 helpful votes. Directions. FAQ for ATM Cards. Regions Bank ATM – The Regions Deposit Smart ATMs allow you to cash your checks at any time of the day. Call 1-888-SITE-CO-OP (888-748-3266) to find a location by telephone. Universal City Studios Credit Union. Find 222 listings related to Wells Fargo Atm in The Strip on YP. Find one near you. View credit cardholder agreements. 1121 Las Vegas Blvd S. <iframe src="//www. Bank of America financial centers and ATMs in Delaware are conveniently located near you. 2)Avoid ATMs that are poorly lit, hidden, or obstructed from view. 2 days ago · Automated teller machines (ATMs) are located throughout the following terminals: - 2nd level of Terminal D - 1st level of Terminals E and J. Louis - Missouri 1401 S Brentwood Blvd, #625. Find the nearest location to open a CD, deposit funds and more. Save. to 5:00 p. We're taking precautions to help keep you, our employees, and other members safe. html?id=GTM-W2GD88" height="0" width="0" style="display:none;visibility:hidden"></iframe> About Wells Fargo Bank: Loan Broker. If you observe or sense suspicious persons or circumstances, do not use the ATM at that time. ATM Card Limits. Opens modal dialog. Directions. Even though I've traveled to PV periodically for 26 years, this last trip was the first one where I depended on my ATM card (through Wells Fargo --- 40 year customer). “This Wells Fargo is way down the strip next to the 7-eleven and Walgreens. “Our ATMs at McMurdo Station are the southernmost ATMs in the world, according to FIS uses cookies to improve your experience on our websites. Bank, 119th Street Branch Full Service Brick and Mortar Office 10100 West 119th Street Overland Park, KS 66213 ATM Access Code. The best way to get to them is by riding the Deuce Bus or the Centennial Express(CX). Xceed Financial Credit Union. 6 trillion in assets. Bank also offers currency exchange (tel. Founded in 1852, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, more than 12,500 ATMs, online (wellsfargo. We use your browsing data on fisglobal. See reviews, photos, directions, phone numbers and more for Wells Fargo Atm locations in The Strip, Las Vegas, NV. ATMs are a convenient way to access your money. All you need to do is insert your check into the Regions Deposit Smart ATM and you will be walked through the transaction. Fees may apply, depending on your bank’s policy. com), and mobile devices. Tip: Always keep your ATM card in a safe location. ATMs / Cash Machines. - 3rd Level of the meeter/greeter lobby J. to 6 p. Otherwise, out-of-network ATM withdrawal fees may apply. com to gather analytics to help provide personalized content and an overall better user experience. 18. ² Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Spending Account each month. −. Apr 26, 2021 · 14) Wells Fargo. Use the Wells Fargo Mobile® app to request an ATM Access Code to access your accounts without your debit card at any Wells Fargo ATM. 9 years ago. . Get location hours, directions, and available banking services. May 06, 2021 · Apple Pay is accepted at most cardless ATMs including Wells Fargo, Chase and Bank of America. S. Travelex ATM Locations: – Terminal C, near Gate Nos. name address phone. www. See reviews, photos, directions, phone numbers and more for Wells Fargo Atms locations in Whitewater, CO. Important information ATM Access Codes are available for use at all Wells Fargo ATMs for Wells Fargo Debit and ATM Cards, and Wells Fargo EasyPay® Cards using the Wells Fargo Mobile® app. to 1 p. You can withdraw up to $300 per day using your ATM card. 5 based on 96 votes. Find the location that offers the product or service you need and come visit us. See reviews, photos, directions, phone numbers and more for Atm Locations Wells Fargo locations in Oklahoma City, OK. Follow the web page instructions to narrow your search or simply enter your zip code and press enter. There are now 7,400 free ATMs in California across 42 different banks and financial institutions. Wells Fargo Bank. If you use a deposit ATM from another bank (within the network), your funds might not show up in your account as quickly as they would if you had used your bank. Input city, State, and Zipcode in field box. AllPoint gives you freedom to get cash surcharge-free 1 at more than 55,000 locations. If your bank is part of the over 1000 card providers, including RoarMoney, that participate in Allpoint, you can find locations in popular places such as Target, Walgreens You can find Allpoint ATMs virtually anywhere your travels may take you, throughout the United States and around the globe. 2. Print Jan 18, 2013 · Banks typically charge nonaccount holders $3 a pop to withdraw money from their ATMs, vastly more than it costs to actually perform the transactions, so more nonaccount holder ATM customers means Enter a city, state, or zip code above for a list of nearby ATMs and locations. Popular Cities. Located - Downtown ATMs/Cash Machines: - ATMS provided by Public Service Credit Union. Use our online branch locator to find your nearest Wells Fargo Bank ATM or branch in Baton Rouge and get branch and ATM hours, directions and customer service phone numbers. You may not be eligible for introductory annual percentage rates, fees, and/or bonus rewards offers if you opened a Wells Fargo Credit Card within the last 15 months from the date of this application and you received introductory APR(s), fees Once there, enter your location and select the ATM checkbox filter for a list of nearby U. Mar 31, 2011 · Wells Fargo Bank is a FDIC-insured bank with certificate number of 3511. Find a MoneyPass® ATM. Bank/Credit Union: - Public Service Credit Union located in Jeppesen Terminal, Level 6, West. Currency Exchange at Minneapolis-St Paul MSP Airport. ATMs/Cash Machines: - ATMS provided by Public Service Credit Union. The Locator API is now part of CO-OPs Developer Portal. May 10, 2021 · Try using one of these: Visa ATM locator: The Visa ATM locator lets you search by keyword. Wells Fargo & Company bank of america las vegas near me WFC) is a nationwide, diversified financial services company with $1. B. Hours Guide WELLS FARGO ATM Missouri St. Sam Houston Parkway South, Suite 1300 Houston, Texas 77042 United States of America Tel: (832) 308-4000 The Wells Fargo ATM allows you to cash up to 30 checks at once. Final Thought. Banks & Credit Unions. Mastercard ATM Locator guides you to the nearest ATM location with just a click. Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit cards. Members can perform a search on your credit union website or mobile application for ATM locations, Shared Branching locations, or both and the results are displayed directly to your preferred channel. Search below to confirm the hours of operation for your nearest branch. To verify that an ATM is NFC-enabled, look for the contactless symbol. Please, select below a state to find an ATM or Wells Fargo branch location near you. Results. FIS uses cookies to improve your experience on our websites. Wells Fargo Bank offers Personal in West Wendover, nv state bank of india near me branch Elko County and is a business specialized in Apartments. As a full-service debit payments network, STAR provides anytime, anywhere access to enable purchases and payments through any channel. To get started, search for your branch in the locator below then select "Make An Appointment". You can get this list as a printable PDF document here. ), but I did not do the research to find out which banks are associated with Wells Fargo, thus "no fee. - Past security in all the concourses. Wells Fargo offers more than 12,000 ATMs and nearly 6,200 retail banking stores coast to coast. With thousands of ATMs or banking locations, it’s easy to find one near you, online or using your Wells Fargo Mobile ® app. Availability may be affected by your mobile carrier Find 28 listings related to Wells Fargo Atms in Whitewater on YP. Availability may be affected by your mobile carrier Use our online branch locator to find your nearest Wells Fargo Bank ATM or branch in Baton Rouge and get branch and ATM hours, directions and customer service phone numbers. Banking locations With approximately 4,900 banking locations around the country, you can make business deposits, get cash, purchase money orders and much more with our helpful customer service. 80, 105, 120 and 132; and – Terminal C, on the arrivals lvl near Starbucks Enter a city, state, or zip code above for a list of nearby ATMs and locations. Select “Show MoneyPass ATM Network locations” in the dropdown ATM Access Code. Wells Fargo Bank is listed in the categories Banks, Loans Personal, Mortgage Contracts & Services, Mortgage Companies, Commercial Banks, Consumer Lending, Real Estate Loans & Contracts, Financial Services, Personal Credit Institutions and Banks Surcharge-Free ATMs and Branch Locations. ATM Access Code. ¹ Get fee-free transactions at any Moneypass ATM in a 7-Eleven location or at any Allpoint or Visa Plus Alliance ATM. Explore other popular Financial Services near you from over 7 million businesses with over 142 million reviews and opinions from Yelpers. Everything worked fine (safe, etc. Find 16 listings related to Wells Fargo Bank in Lockport on YP. ; closed on Sundays. Cardless ATM. to 8:00 p. m. ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), and loan payments or account funding made with your debit card are not eligible for cash back rewards. To find a Plus Alliance ATM near you, simply use the online locator tool. wells fargo atm locations

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      Black-Owned Banks by State

      Ever since the founding of the Bank of North America in 1781, banking has played a critical role in facilitating the American Dream. These institutions provide indispensable monetary services, ranging from accepting deposits to offering loans. Credit is king in the United States, and without high-quality financial institutions, countless Americans would struggle to acquire vehicles, housing, and other essential items.

      However, like pretty much all of the nation’s older institutions, banks have also played a significant part in America’s racist past. Racial discrimination in the banking industry and financial system has targeted African Americans, and challenges ending discrimination persist today. Black-owned banks arose as an alternative to larger institutions to provide greater access to banking services as well as an opportunity to support local communities.

      According to the Federal Deposit Insurance Corporation, a Minority Depository Institution (MDI) is “.a federal insured depository institution for which (1) 51 percent or more of the voting stock is owned by minority individuals; or (2) a majority of the board of directors is minority and the community that the institution serves is predominantly minority. Ownership must be by U.S. citizens or permanent legal U.S. residents to be counted in determining minority ownership.” Of the 22 Black-owned banks featured in this article, two fall into the latter category.

      For the purposes of this article, Black-owned and managed credit unions that serve the Black community have been included to provide the most complete picture of America’s Black financial institutions. The article uses the term “Black-owned” in this broad sense, recognizing that stockholders own for-profit banks and members own credit unions.

      Key Takeaways

      • Today—including credit unions—there are 44 Black-owned financial institutions in the United States. Taken together, they have approximately $6.82 billion in assets in total.
      • Black-owned banks provide customers not just access to the financial resources they need, but the chance fidelity bank and trust anamosa iowa invest in the financial health and well-being of their community.
      • Black-owned banks also play a critical role in fighting modern-day systemic racism in the financial sector.
      • Critics of Black-owned for-profit banks have posited that true financial justice requires institutions, such as not-for-profit credit unions, that are separate from a financial system rooted in racism and exploitation.
      • Of the 44 Black-owned financial institutions in the country, 22 are not-for-profit credit unions.

      Background and History of Black-Owned Banks

      Black-owned banks didn’t exist until more than a century after the Bank of North America first opened its doors. Prior to the chartering of the first Black-owned bank in 1888, Congress and President Lincoln established the Freedman’s Savings Bank in 1865. As part of the Freedman’s Bureau, this institution was designed to help newly freed African Americans navigate the U.S. financial system.

      Despite Congress voting to close the Freedman’s Bureau in 1872, the bank continued to operate. In 1874, Frederick Douglass took over as the bank’s D.C. branch director, and he found the place to be rife with corruption and risky investments. Despite Douglass investing $10,000 of his own money in the bank in an attempt to save it, Freedman’s Savings went bankrupt later that same year. Although the Freedman’s Savings Bank doesn’t fit the modern criteria of a Black-owned bank, it represents a critical first step.

      The first officially chartered Black-owned bank, the True Reformers Bank, was founded on March 2, 1888, by the Rev. William Washington Browne. A former slave and Union Army officer, Browne was founder of the Grand Fountain United Order of True Reformers fraternal organization. The True Reformers Bank came about when Browne and his organization faced financial hardships while trying to establish a new branch in Virginia. Unable to manage the order’s money without arousing suspicion from paranoid and prejudiced locals, Browne founded the True Reformers Bank so that the organization’s finances would be free of scrutiny from white people.

      The bank opened its doors in 1889 and went from a small operation in Browne’s house to an institution strong enough to survive the financial panic of 1893. Although the True Reformers Bank continued to operate after Browne’s death in 1897, problems were beginning to develop by 1900. Under its new president, the Rev. William Lee Taylor, branches were poorly regulated, unsecured loans were made, and an embezzlement scandal cost most account holders their savings. By 1910, the State Corporation Commission had ordered the bank to be closed.

      As the story of the True Reformers Bank was playing out, other Black-owned banks were also getting their start in the U.S. The Capitol Savings Bank of Washington, D.C., opened its doors on Oct. 17, 1888, roughly six months before the True Reformers Bank. Capitol Savings also managed to survive the financial panic of 1893, though it later closed in 1902.

      Between 1888 and 1934, more than 134 Black-owned financial institutions were founded, predominantly located in Southern states. Their numbers dwindled during the Great Depression, leaving nine by 1930. It wasn’t until the civil rights movement that a resurgence took place, raising their numbers to 50 by 1976.

      By 1988, the savings and loan crisis had wiped out 35 Black-owned banks. The start of the most recent decline came in 2001, during the early 2000s recession, which rapidly accelerated once the Great Recession began. There are 44 Black-owned financial institutions, including credit unions, left today.

      “You can’t separate Black history from American history,” says Tyrone Ross, community director of Altruist, a software platform provider for financial advisors. “We’ve always been well adept and versed in financial education and the ability to be entrepreneurs. It’s just been stripped from us. So it’s OK to write these articles—or have panels or whatever—but let’s start with the history first so people go, ‘Oh, crap. It really was stripped from them, and they’re just trying to get it back.’”

      Modern-Day Discrimination

      In 2016, the net worth of a white family was nearly 10 times higher on average than that of a Black family. This is a result of inequality, discrimination, racism, and differences in power and opportunity compounding throughout America’s history. It also is why the diminishing number of Black-owned banks is especially of concern, given the role these institutions play in fighting modern-day systemic racism in the financial sector.

      Consider redlining. This unethical and now illegal practice is used to block off access to important services for residents of certain neighborhoods based on their race or ethnicity. The Civil Rights Act of 1964, which prohibits discrimination on the basis of race, color, religion, sex, and national origin, was a start. And yet, although the Fair Housing Act of 1968 and the Community Reinvestment Act (CRA) of 1977 were both intended to eliminate redlining, this kind of discrimination is still seen today.

      For instance, 68.1% of loans made between 2012 and 2018 for housing purchases in Chicago went to predominantly white areas; 8.1% went to predominantly Black areas. Banks also lent more money to predominantly white neighborhoods than they did to every predominantly Black neighborhood combined. This disparity is even starker when looking at individual lenders, with JPMorgan Chase lending 41 times more money in white neighborhoods than Black ones.

      Chicago is far from the only place where redlining occurs. In 2018, people of color in 61 cities were more likely to be denied home loans than white residents. And if homeowners aren’t moving into—and investing in—a neighborhood, it means capital isn’t flowing into the community, which leads to poverty and crime having an inescapable presence in the area.

      “One in five Black Americans now is unbanked. When you look at our poverty rates, our lack of ownership, lack of home ownership, that all goes back to economic empowerment,” Ross explains. “Economic empowerment starts with banking.”

      The Importance of Black-Owned Banks

      To understand why Black-owned banks matter, it’s critical to recognize the role banks play in financial life. A common service banks provide is access to a checking account, allowing for the safe storage of an individual’s funds, typically in exchange for a minimal fee. In addition to accepting monetary deposits, banks also furnish loans for both individuals and businesses looking to finance crucial purchases. Banks also offer mortgages for real estate purchases. Many banks issue credit cards, which are valuable tools for building the credit history necessary to receive most loans.

      Outside of providing financial services, a number of banks have also launched programs on financial literacy for low- and moderate-income communities. It’s difficult, if not impossible, to imagine thriving in the modern economy without taking advantage of the aid that a bank can provide. And if access to these types of services is constantly denied to certain groups, it’s easy to see how these groups may face more financial difficulties than others.

      Black-owned banks offer an alternative for residents who have been consistently discriminated against by other financial institutions. They have typically provided more money to borrowers living in low- and moderate-income (LMI) census tracts in the last 14 years than other banks. Black-owned banks are also more willing to tolerate higher levels of risk than alternative institutions. Our research found that in 2016, 67% of mortgages made by Black-owned banks were either FHA mortgages—which typically serve riskier borrowers—or mortgages held “in portfolio,” meaning they are liable to the risk of the borrower defaulting.

      Additionally, Black-owned banks tend to focus their lending on small businesses, nonprofits, and Black homebuyers. As of 2018, all Black-owned banks are community banks; these institutions are dedicated to supporting the economies of the communities in which they serve. Even during difficult times, Black-owned banks have stuck by their customers. During the 2007–2008 financial crisis, despite a 69% drop in all mortgage lending to Black borrowers, the number of mortgages that Black-owned banks provided rose 57%.

      “So there’s lack of lending, there’s lack of funding, there’s lack of access to the ability to acquire assets and build wealth,” says Ross. “The Black community has for years been afraid of banking with traditional institutions. A lot of them live in banking deserts where there are no banks, which is also why you have credit unions, check cashing places, and payday loans.”

      Without Black-owned banks, countless vulnerable consumers could be forced to rely on high-interest loans from pawn shops and payday lenders for their financing. What’s more, Black-owned banks provide customers not just access to the financial resources they need, but the chance to invest in the financial health and wellbeing of their community and fellow Americans.

      “I think we have a responsibility now to realize that—if you really want to be grassroots, and you really want to help Black Americans—get that money in Black banks and then have those Black banks fund the people,” Ross says.

      Other Alternatives for Community Funding

      Not everyone sees Black-owned, for-profit banks as the solution. Critics argue that true financial justice requires institutions that are entirely separate from a financial system rooted in racism and exploitation.

      “I’ve been very critical of for-profit Black banks and the capitalist logic that governs them,” says Prof. Guy Mount, assistant professor of African American history at Auburn University. “In my opinion, member-owned credit unions and nonprofit co-ops are the way forward for Black communities hoping to not only survive within capitalism, but build a viable Black economic alternative to it.” In fact, that choice is currently available to consumers. Of the 44 Black-owned financial institutions in the U.S.—all listed below—21 are credit unions.

      Other critics have taken this concept even further. In The Color of Money: Black Banks and the Racial Wealth Gap, Mehrsa Baradaran, professor of law at the University of California Irvine School of Law, posits that those in power have pushed the idea of Black-owned banks as a diversionary tactic whenever the African American community demanded more direct solutions to the racial wealth gap. For instance, although the Freedman’s Bank remains a critical facet of Black history, the Freedman’s Bureau originally proposed providing newly freed slaves with an allotment of land—they received a bank instead.

      More recently, when civil rights leaders began calling for a redistribution of wealth, President Richard Nixon co-opted the rhetoric of that same movement to create a civil rights platform centered around “Black capitalism.” He wasn’t the only president to support the idea of banking over financial support. President Bill Clinton introduced legislation with the aim of promoting “community empowerment” via banking. Across party lines, Presidents George W. Bush and Barack Obama supported and upheld Clinton’s infrastructure. Former President Donald Trump had also made similar promises during his time in office.

      Baradaran further argues that—as it is nearly impossible for a segregated community to keep its wealth entirely self-contained—Black-owned banks may actually facilitate the flow of money out of African American communities and into the white economy.

      Prof. Mount sees it the same way, “By emerging themselves within a white-governed capitalist marketplace, Black banks are facilitating the very extraction of wealth from the communities they purport to serve,” he says.

      Black-Owned Banks: State-by-State Breakdown

      While the number of Black-owned financial institutions may have declined from their peak, they cumulatively have a not-insignificant presence. According to Bank Black USA, historical Black-owned bank assets have totaled over $7.6 billion. As of Feb. 4, 2021, the 41 Black-owned banks and credit unions in the U.S. have approximately $6.82 billion in assets. And although 28 states have no Black-owned financial institutions within their borders, several organizations have a presence across the U.S. because of their partnerships with major ATM networks. Additionally, of the 41 Black-owned financial institutions in the country, half are not-for-profit credit unions.

      The majority of Black-owned institutions offer both traditional brick-and-mortar branches and online/mobile services. Even OneUnited Bank, originally an Internet-only bank, now has multiple physical locations across the U.S. Ensuring online accessibility is a smart move considering that, in 2017, approximately 17.7% of African-American consumers were more likely to use mobile banking as their primary method of accessing their accounts. Currently, Columbia Savings and Loan is the sole institution without any online or mobile banking services.

      Below: a list of Black-owned banks and credit unions in the U.S., in alphabetical order.

      1st Choice Credit Union

      Founded in 1946, the Hospital Authority Credit Union was created to provide financial services to employees of Grady Hospital. In 1991, the organization became known as 1st Choice Credit Union.

      • Branches: Auburn Avenue Administrative Office (Atlanta, Ga.) and Grady Memorial Hospital (Atlanta, Ga.)
      • ATMs: Crestview Health & Rehabilitation Center (Atlanta, Ga.) and Ponce De Leon Center (Atlanta, Ga.)
      • States: Georgia
      • Services: Personal and business checking and savings, in addition to loans (personal, mortgage, etc.)
      • Assets: $30.77 million
      • Availability: Brick-and-mortar and online

      Alamerica Bank

      Alamerica Bank was originally organized by a group of prominent Birmingham, Ala., community leaders on Jan. 28, 2000. Alamerica achieved operational profitability after six months of operation.

      • Branches: The Alamerica Bank Building (Birmingham, Ala.)
      • ATMs: N/A
      • States: Alabama
      • Services: Deposit services (business and personal accounts), loan services (commercial and personal loans), Internet banking, image statements, and MasterMoney debit cards
      • Assets: $15.36 million
      • Availability: Brick-and-mortar and online

      Broadway Federal Bank

      The Broadway Federal Bank is a subsidiary of Broadway Financial Corporation, a bank holding company located in Los Angeles, Calif. Formerly known as the Broadway Federal Savings and Loan Association, founded in 1946, the original building was destroyed by a how to say i m hungry in korean on April 30, 1992. In December 1995, the organization was converted from a federally chartered mutual savings association to a federally chartered stock savings bank, hence the new name.

      • Branches: Mid-Wilshire Branch (Los Angeles, Calif.), Inglewood Branch (Inglewood, Calif.), and Exposition Park Branch (Los Angeles, Calif.)
      • ATMs: Part of the MoneyPass network
      • States: California
      • Services: Personal and business accounts, credit cards, and loan products
      • Assets: $497.03 million
      • Availability: Brick-and-mortar and online

      Brookland Federal Credit Union

      Founded in 1999, the Brookland Federal Credit Union is a not-for-profit financial cooperative that provides financial services to members of Brookland Baptist Church and their immediate family members. If you join Brookland Federal, you and your family have a lifetime membership.

      • Branches: Brookland Federal Credit Union (West Columbia, S.C.)
      • ATMs: N/A
      • States: South Carolina
      • Services: Savings, checking, loans, and other services (financial bank of america las vegas near me, guaranteed auto protection, etc.)
      • Assets: $3.40 million
      • Availability: Brick-and-mortar and online

      Carver Federal Savings Bank

      The Carver Federal Savings Bank was founded in 1948 to serve African American communities with limited access to mainstream financial services. The majority of its branches and ATMs are located in low- to moderate-income neighborhoods. Carver Federal Savings Bank is one of the two banks that are considered “Black-operated” instead of Black-owned.

      • Branches: Atlantic Terminal Branch (Brooklyn, N.Y.), Bedford-Stuyvesant — Restoration Plaza Branch (Brooklyn, N.Y.), Crown Heights Branch (Brooklyn, N.Y.), Flatbush Branch (Brooklyn, N.Y.), and St Albans Branch (Jamaica, N.Y.), 125th Street Branch (New York City, N.Y.), and Malcolm X Boulevard Branch (New York City, N.Y.)
      • ATMs: Malcolm X Boulevard Branch (Brooklyn, N.Y.) and 125th Street Branch (New York City, N.Y.)
      • States: New York
      • Services: Personal and business banking, loans, and community cash
      • Assets: $673.05 million
      • Availability: Brick-and-mortar and online

      Carver State Bank

      Established on Feb. 23, 1927, the Georgia Savings and Realty Corporation was a small, private bank as well as a real estate investment and management company. In 1947, the original institution was converted to a state bank and became known as the Carver Savings Bank. By 1962, Carver had become a full-service commercial bank, thus its name was changed once more to the Carver State Bank.

      • Branches: Main Office (Savannah, Ga.) and Skidaway Branch (Savannah, Ga.)
      • ATMs: Main Office (Savannah, Ga.), Skidaway Branch (Savannah, Ga.), and Hilton Head International Airport (Savannah, Ga.)
      • States: Georgia
      • Services: Personal accounts (checking and savings), business accounts, loans, development programs, and other services (cashier’s checks, money orders, etc.)
      • Assets: $48.39 million
      • Availability: Brick-and-mortar and online

      Citizens Bank

      In 1904, the One Cent Savings Bank became the first minority-owned bank in Tennessee. The institution’s name was changed to the Citizens Savings Bank & Trust Co. in 1920. Citizens Bank is the oldest, continuously operating Black-owned bank in the U.S.

      • Branches: Memphis Winchester Road Branch (Memphis, Tenn.) and Main Office (Nashville, Tenn.)
      • ATMs: Main Office (Nashville, Tenn.)
      • States: Tennessee
      • Services: Personal and business banking (checking and savings), credit cards, and loans (personal, business, etc.)
      • Assets: $100 million
      • Availability: Brick-and-mortar and online

      Citizens Trust Bank

      In 1921, the Citizens Trust Bank was created to serve the African American citizens of Atlanta. Today, the bank plays an active role in providing sponsorship support for multiple community organizations.

      • Branches: Birmingham (Birmingham, Ala.), Eutaw Branch (Eutaw, Ala.), Cascade Branch (Atlanta, Ga.), Corporate Headquarters (Atlanta, Ga.), Westside Branch (Atlanta, Ga.), East Point Branch (East Point, Ga.), and Rockbridge Branch (Stone Mountain, Ga.)
      • ATMs: Castleberry Inn ATM (Atlanta, Ga.), Westside ATM (Atlanta, Ga.), South Dekalb Mall ATM (Decatur, Ga.), Lithonia ATM (Lithonia, Ga.), Rockbridge Plaza ATM (Stone Mountain, Ga.), Stone Mountain ATM (Stone Mountain, Ga.), and Panola ATM (Stonecrest, Ga.)
      • States: Alabama and Georgia
      • Services: Banking (savings, checking, etc.) and borrowing (loans, credit cards, etc.) services 
      • Assets: $536.65 million
      • Availability: Online and brick-and-mortar

      Columbia Savings & Loan

      Columbia Savings & Loan has served Milwaukee’s inner city, particularly its minority population, since 1924.

      • Branches: Columbia Savings & Loan Association (Milwaukee, Wis.)
      • ATMs: N/A
      • States: Wisconsin
      • Services: Mortgages, church loans, and CDs/IRAs
      • Assets: $24.41 million
      • Availability: Brick-and-mortar only

      Commonwealth National Bank

      Founded in 1976, the Commonwealth National Bank is a full-service nationally chartered commercial institution. Commonwealth is the sole bank headquartered in Mobile, out of the 45 banks doing business there. In addition to being the only Minority Depository Institution (MDI) in Mobile, it is one of two in Alabama.

      • Branches: Main Office Branch (Mobile, Ala.) and Crichton Branch (Mobile, Ala.)
      • ATMs: Main Office Branch (Mobile, Ala.), Crichton Branch (Mobile, Ala.), any Publix Super Market ATM, and any PNC Bank ATM
      • States: Alabama
      • Services: Consumer and business services, in addition to loans
      • Assets: $55.06 million
      • Availability: Brick-and-mortar and online

      Community Owned Federal Credit Union

      In 1966, the Community Owned Federal Credit Union was founded to provide low-income communities in Johns Island and part of Charleston with financial services typically denied to them by mainstream institutions. Membership has since grown to include the entire Charleston area.

      • Branches: Community Owned Federal Credit Union (Charleston, S.C.)
      • ATMs: N/A
      • States: South Carolina
      • Services: Primary savings account, loans, and other services (direct and payroll deposit, in addition to credit workshops)
      • Assets: $6.54 million
      • Availability: Brick-and-mortar and online

      Credit Union of Atlanta

      Founded in 1928, the Credit Union of Atlanta remained stable and secure throughout the Great Depression. Any profits earned are used to secure better rates for the institution’s members.

      • Branches: Main Office (Atlanta, Ga.) and Pryor Street Lending Center (Atlanta, Ga.)
      • ATMs: Atlanta Detention Center (Atlanta, Ga.), Atlanta Public Safety Annex (Atlanta, Ga.), Credit Union of Atlanta (Atlanta, Ga.), and Pryor Street Lending Center (Atlanta, Ga.), in addition to any ATMs in the MoneyPass and STAR networks
      • States: Georgia
      • Services: Personal savings and checking, betrayal at house on the hill reddit checking, credit builder and personal loans, and payment protection
      • Assets: $77.91 million
      • Availability: Brick-and-mortar and online

      Faith Community United Credit Union

      Originally chartered in 1952 as Second Mount Sinai Baptist Church Credit Union, Faith Community United Credit Union became a Community Development Credit Union (CDCU) in 1991. Faith is one of the largest minority-owned Credit Unions in Ohio, and it is available to anyone who lives, works, worships, or attend school in Cuyahoga County as well as their family, business, and organization. Membership is also possible through a Select Employee Group (SEG).

      • Branches: Faith Community United Credit Union (Cleveland, Ohio)
      • ATMs: N/A
      • States: Ohio
      • Services: Deposit services, loan services, insurance, and other services
      • Assets: $18.01 million
      • Availability: Brick-and-mortar and online

      Faith Cooperative Credit Union

      The story of the Faith Cooperative Credit Union is a tale of two different organizations. St. John Federal Credit Union was founded in 1959. It became known as the Faith Cooperative Credit Union after it was integrated with the Friendship-West Baptist Church’s vision of a microloan bank.

      • Branches: Administrative Offices (Dallas, Texas)
      • ATMs: One located “near the Banquet Hall”
      • States: Texas
      • Services: Savings, loans, and gap protection
      • Assets: $1.67 million
      • Availability: Brick-and-mortar and online

      FAMU Federal Credit Union

      On May 8, 1935, six individuals were convinced to deposit $50 to acquire a federal credit union charter, resulting in the founding of the Florida A&M College Employees Federal Credit Union. By 1953, the organization renamed to Florida A&M University Federal Credit Union due to its location on the FAMU campus.

      • Branches: Office (Tallahassee, Fla.)
      • ATMs: One located in the “first drive-thru lane”as well asany ATMs that are part of the American Express, CULIANCE, The Exchange, Honors, Member Access, Plus, Presto, Publix, Walmart, and “other Credit Unions with the participating listed networks”
      • States: Florida
      • Services: Accounts (checking, savings, IRA), Rattler debit and VISA credit cards, loans, wire transfers, and other services (notary services, bill payments, etc.)
      • Assets: $22.85 million
      • Availability: Brick-and-mortar and online

      First Independence Bank

      In business since May 11, 1970, the First Independence Bank has served the Detroit Metropolitan area for 50 years. First Independence is the sole African American‐owned bank headquartered in Michigan, in addition to being one of two banks headquartered in Detroit.

      • Branches: Clinton Township Branch (Clinton Township, Mich.), Main Office Branch (Detroit, Mich.), and Seven Mile Branch (Detroit, Mich.)
      • ATMs: Garfield Branch (Clinton Township, Mich.), 1st Floor International Building (Detroit, Mich.), City County Building (Detroit, Mich.), Livernois (Detroit, Mich.), and Main Office Branch (Detroit, Mich.), Seven Mile Branch (Detroit, Mich.), in addition to “any nationwide . Fifth Third, TCF, or Chemical Bank ATM . in the Metro Detroit area”
      • States: Michigan
      • Services: Consumer and business services, in addition to loans
      • Assets: $290.57 million
      • Availability: Brick-and-mortar and online

      First Legacy Community Credit Union

      The School Workers Federal Credit Union was founded by a group of educators in Feb. 14, 1941. On Jan. 1, 2020, First Legacy Community Credit Union merged with the Self-Help Federal Credit Union and now operates as a division of Self-Help.

      • Branches: First Legacy Community Credit Union (Charlotte, N.C.)
      • ATMs: Part of the CO-OP/Covera ATM network
      • States: North Carolina
      • Services: Checking, savings, loans, and other services
      • Assets: $29.33 million
      • Availability: Brick-and-mortar and online

      First Security Bank

      The Security Trust and Savings Bank first opened for business in 1903. Twenty-six years later, it merged with the First National Bank of Charles City, creating the First Security Bank & Trust.

      • Branches: Aredale 1st national bank of eastern arkansas, Iowa), Charles City Branch (Charles City, Iowa), Dumont Branch (Dumont, Iowa), Hampton Branch (Hampton, Iowa), Ionia Branch (Ionia, Iowa), Manly Branch (Manly, Iowa), Marble Rock Branch (Marble Rock, Iowa), Nora Springs Branch (Nora Springs, Iowa), Riceville Branch (Riceville, Iowa), Rockford Branch (Rockford, Iowa), Rockwell Branch (Rockwell, Iowa), Rudd Branch (Rudd, Iowa), and Thornton Branch (Thornton, Iowa)
      • ATMs: Charles City Branch (Charles City, Iowa), Manly Branch (Manly, Iowa), Marble Rock Branch (Marble Rock, Iowa), Nora Springs Branch (Nora Springs, Iowa), Riceville Branch (Riceville, Iowa), Rockford Branch (Rockford, Iowa), Rockwell Branch (Rockwell, Iowa), and Thornton Branch (Thornton, Iowa)
      • States: Iowa
      • Services: Personal (checking, savings, etc.), business (checking, savings, etc.), and lending (personal and auto loans, mortgage and home equity, etc.)
      • Assets: $564.98 million
      • Availability: Brick-and-mortar and online

      GN Bank

      In 1934—after working closely with the Federal Home Loan Bank of Chicago—13 African American men founded Illinois Service Federal to provide a savings and loan association for Black Chicagoans. The institution was acquired by Groupe Ndoum in 2016, which led to its name change to GN Bank in 2018.

      • Branches: Main Branch (Chicago, Ill.) and Chatham Office (Chicago, Ill.)
      • ATMs: Main Branch (Chicago, Ill.) and Chatham Office (Chicago, Ill.), in addition to any ATMs in the STAR network
      • States: Illinois
      • Services: Personal (checking, savings, and credit cards) and small business services (checking, lending, credit cards)
      • Assets: $133 million
      • Availability: Brick-and-mortar and online

      Greater Kinston Credit Union

      The Greater Kinston Credit Union was founded in 1952 and provides a variety of loans and deposit accounts. People who live, work, worship, or attend functions in Lenoir, Greene, Jones, Craven, and Pitt counties are eligible for membership.

      • Branches: Branch Office (Kinston, N.C.)
      • ATMs: Part of the CashPoints network
      • States: North Carolina
      • Services: Debit and credit cards; deposit (checking, savings, etc.), nonprofit, and youth accounts; mortgage and personal lending; and other services (automated services, branch services, etc.)
      • Assets: $12.91 million
      • Availability: Brick-and-mortar and online

      Hill District Federal Credit Union

      The Hill District Federal Credit Union got its start in 1970 and has provided financial services to its members for 50 years. People who live, work, or worship in the Hill District—as well as members of an organization that provides economic assistance in the same area—are eligible to join this institution.

      • Branches: Hill District Federal Credit Union (Pittsburgh, Pa.)
      • ATMs: N/A
      • States: Pennsylvania
      • Services: Debit and gift cards, savings, checking, loans, other services (money orders, financial literacy classes, etc.)
      • Assets: $7.79 million
      • Availability: Brick-and-mortar and online

      Hope Credit Union

      In 1995, members of the Anderson United Methodist Church organized the Hope Federal Credit Union to help low-income Jackson, Miss., residents with asset development, cooperation, and self-empowerment. Hope has since spread across the Deep South through its sponsors and by merging with other financial organizations, with the most recent being the Tri-Rivers Federal Credit Union in 2007. In June 2020, Netflix invested $10 million into Hope as part of its $100 million initiative to support economic opportunities for Black communities.

      • Branches: ArbaStreet Branch (Montgomery, Ala.), McGehee Road Branch (Montgomery, Ala.), College Station Branch (College Station, Ark.), Little Rock Branch (Little Rock, Ark.), Pine Bluff Branch (Pine Bluff, Ark.), West Memphis Branch (West Memphis, Ark.), Central City Branch (New Orleans, La.), Elysian Fields Branch (New Orleans, La.), Michoud Assembly Facility Branch (New Orleans, La.), Mississippi Coast Branch (Biloxi, Miss.), Drew Branch (Drew, Miss.), Greenville Branch (Greenville, Miss.), Itta Bena Branch (Itta Bena, Miss.), Medical Mall Branch (Jackson, Miss.), University Boulevard Branch (Jackson, Miss.), Louisville Branch (Louisville, Miss.), Macon Branch (Macon, Miss.), Moorhead Branch (Moorhead, Miss.), Robinsonville Branch (Robinsonville, Miss.), Shaw Branch (Shaw, Miss.), Terry MS Branch (Terry, Miss.), Utica Branch (Utica, Miss.), West Point Branch (West Point, Miss.), Jackson Branch (Jackson, Tenn.), Crosstown Branch (Memphis, Tenn.), Harvester Lane Branch (Memphis, Tenn.), Madison Avenue Branch (Memphis, Tenn.), and Ridgeway Branch (Memphis, Tenn.), in addition to any credit unions in the Shared Branching network.
      • ATMs: Pine Bluff Branch (Pine Bluff, Ark.), West Memphis Branch (West Memphis, Ark.), Central City Branch (New Orleans, La.), Elysian Fields Branch (New Orleans, La.), Mississippi Coast Branch (Biloxi, Miss.), Drew Branch (Drew, Miss.), Greenville Branch (Greenville, Miss.), Medical Mall Branch (Jackson, Miss.), University Boulevard Branch (Jackson, Miss.), Robinsonville Branch (Robinsonville, Miss.), Shaw Branch (Shaw, Miss.), Terry MS Branch (Terry, Miss.), Jackson Branch (Jackson, Tenn.), Harvester Lane Branch (Memphis, Tenn.), Madison Avenue Branch (Memphis, Tenn.), and Ridgeway Branch (Memphis, Tenn.)
      • States: Alabama, Arkansas, Louisiana, Mississippi, and Tennessee
      • Services: Personal (checking and wealth-building accounts, personal loans, credit cards, etc.) and business (checking and loans) banking, in addition to transformational deposits
      • Assets: $361.29 million
      • Availability: Brick-and-mortar and online

      Howard University Employees Federal Credit Union

      Originally chartered on Oct. 11, 1935, the Howard University Employees Federal Credit Union provides financial services to employees of Howard University and their family members. Those who join Howard University Employees FCU have a lifetime membership.

      • Branches: C B Powell Building (Washington, D.C.)
      • ATMs: Part of the CO-OP and CU Here networks
      • Locations: Washington, D.C.
      • Services: Accounts (savings, checking, etc.) and loans
      • Assets: $10 million
      • Availability: Brick-and-mortar and online (home loans only)

      Industrial Bank

      Industrial Bank first opened on Aug. 20, 1934, and is one of the larger Black-owned banks in the U.S. In addition to a wide variety of financial services, Industrial Bank also offers free financial education programs.

      • Branches: Harlem Banking Center (New York City, N.Y.), Bergen Street Banking Center (Newark, N.J.), Halsey Street Banking Center (Newark, N.J.), Anacostia Gateway Banking Center (Washington, D.C.), F Street Banking Center (Washington, D.C.), Forestville Banking Center (Washington, D.C.), Georgia Avenue Banking Center (Washington, D.C.), J.H. Mitchell Banking Center (Washington, D.C.), Oxon Hill Banking Center (Washington, D.C.), and U Street Banking Center (Washington, D.C.)
      • ATMs: Harlem Office (New York City, N.Y.), Bergen Street Office (Newark, N.J.), Halsey Street Office (Newark, N.J.), Anacostia Gateway Office (Washington, D.C.), Ben’s Chili Bowl (Washington, D.C.), DC Court of Appeals (Washington, D.C.), DC Superior Court (2) (Washington, D.C.), F Street Office (Washington, D.C.), Forestville Office (Washington, D.C.), Georgia Avenue Office (Washington, D.C.), J.H. Mitchell Office (Washington, D.C.), Nationals Park (Washington, D.C.), Oxon Hill Office (Washington, D.C.), and U Street Office (Washington, D.C.), in addition to any ATMs in the Allpoint network
      • States: New Jersey, New York, and Washington, D.C.
      • Services: Personal (loans, checking, etc.) and business (services, loans, etc.) services
      • Assets: $432 million
      • Availability: Brick-and-mortar and online 

      Liberty Bank

      Liberty Bank was originally chartered in New Orleans in 1972. After acquiring the United Bank and Trust Company in 2009, its service grew across the Greater New Orleans area. Liberty Bank is the second-largest Black-owned bank in physical footprint, with branches in eight states.

      • Branches: Montgomery Liberty Bank (Montgomery, Ala.), Tuskegee Liberty Bank (Tuskegee, Ala.), Liberty Bank Forest Park (Forest Park, Ill.), Kansas City Liberty Bank (Kansas City, Kan.), Louisville Liberty Bank (Louisville, Ky.), Southdowns Liberty Bank (Baton Rouge, La.), Southern Heights Liberty Bank (Baton Rouge, La.), Canal Street Liberty Bank (New Orleans, La.), Crowder Blvd Liberty Bank (New Orleans, La.), Franklin Ave Liberty Bank (New Orleans, La.), General DeGaulle Liberty Bank (New Orleans, La.), Gentilly Blvd Liberty Bank (New Orleans, La.), Woodward Ave Liberty Bank (Detroit, Mich.), Jackson Liberty Bank (Jackson, Miss.), and Kansas City Liberty Bank (Kansas City, Mo.)
      • ATMs: Montgomery Liberty Bank (Montgomery, Ala.), Tuskegee Liberty Bank (Tuskegee, Ala.), Liberty Bank Forest Park (Forest Park, Ill.), 4850 State Street (Kansas City, Kan.), Southdowns Liberty Bank (Baton Rouge, La.), Southern Heights Liberty Bank (Baton Rouge, La.), 910-B Decatur Street (New Orleans, La.), 2800 Gravier Street (New Orleans, La.), American Can (New Orleans, La.), Canal Street Liberty Bank (New Orleans, La.), City Hall (New Orleans, La.), Crowder Blvd Liberty Bank (New Orleans, La.), Dillard — Rosenwald Hall (New Orleans, La.), Franklin Rouses (New Orleans, La.), French Market (New Orleans, La.), General DeGaulle Liberty Bank (New Orleans, La.), Gentilly Blvd Liberty Bank (New Orleans, La.), Lafon Nursing Facility (New Orleans, La.), Lockheed Martin Buildings 102 & 350 (New Orleans, La.), Orleans Sheriff (New Orleans, La.), Xavier University (2) (New Orleans, La.), Jackson Evers International Airport (Jackson, Miss.), Jackson Liberty Bank (Jackson, Miss.), Student Center (Jackson, Miss.), Tougaloo College (Jackson, Miss.), and Union Station (Jackson, Miss.)
      • States: Alabama, Illinois, Kansas, Kentucky, Louisiana, Michigan, Mississippi, and Missouri
      • Services: Personal (checking, savings, etc.), business (checking, savings, etc.), and institutional (cash management, corporate financing, etc.) services
      • Assets: $756.77 million
      • Availability: Brick-and-mortar and online

      Mechanics & Farmers Bank

      Founded in 1907 by nine businessmen, the Mechanics & Farmers Bank is a state-chartered commercial bank. By 1935, M&F Bank became the first lending institution in North Carolina to receive FHA certification. Mechanics & Farmers merged with Fraternal Bank & Trust in 1921 and acquired Mutual Community Savings Bank in 2008.

      • Branches: Charlotte (Charlotte, N.C.), Corporate Headquarters (Durham, N.C.), Durham Branch — Durham-Chapel Hill Boulevard (Durham, N.C.), Greensboro (Greensboro, N.C.), Raleigh Branch — Rock Quarry Road (Raleigh, N.C.), Winston-Salem (Winston-Salem, N.C.)
      • ATMs: Durham Branch (Durham, N.C.) and Raleigh Branch — East Hargett Street (Raleigh, N.C.)
      • States: North Carolina
      • Services: Personal (checking and savings accounts, loans, etc.) and business (commercial checking and savings, loans, etc.) services, in addition to wealth management
      • Assets: $316.45 million
      • Availability: Brick-and-mortar and online

      Mount Olive Baptist Church Federal Credit Union

      It received its Federal Charter on Oct. 21, 1997. The Mount Olive Baptist Church Federal Credit Union is a faith-based, not-for-profit financial institution. Mount Olive Baptist Church members and their immediate families are eligible to join this organization.

      • Branches: Mount Olive Baptist Church FCU (Dallas, Texas)
      • ATMs: N/A
      • States: Texas
      • Services: Loans (auto, unsecured, etc.), savings accounts, direct deposits, and wire transfers
      • Assets: $8.36 million
      • Availability: Brick-and-mortar and online

      Oak Cliff Christian Federal Credit Union

      Officially chartered on Sept. 22, 2008, the Oak Cliff Christian Federal Credit Union is a Christian-based financial institution sponsored by the Oak Cliff Bible Fellowship. Members, employees, students, or family of the Oak Cliff Bible Fellowship (and its subsidiaries) are eligible to join the organization.

      • Branches: Oak Cliff Christian FCU (Dallas, Texas)
      • ATMs: N/A
      • States: Texas
      • Services: Loans, financial products (IRAs, money market, etc.), direct deposit, money orders, and credit reports
      • Assets: $7.34 million
      • Availability: Brick-and-mortar and online

      Omega Psi Phi Fraternity Federal Credit Union

      Founded in 1986, the Omega Psi Phi Fraternity Federal Credit Union is open to members of the fraternity, including its chapters, districts, and other related organizations, and their families, in addition to employees of both the fraternity and credit union itself.

      • Branches: Omega Psi Phi Fraternity Federal Credit Union c/o CAMO (Toccoa, Ga.)
      • ATMs: N/A
      • States: Georgia
      • Services: Accounts (single, joint, etc.), share draft checking, loans, and credit cards
      • Assets: $2.35 million
      • Availability: Brick-and-mortar and online

      OneUnited Bank

      OneUnited Bank was the first online-only Black-owned bank and is the largest Black-owned bank in the U.S. Originally founded in 1968 as Unity Bank and Trust Company, OneUnited has financed more than $100 million in loans thus far, predominantly in low- to moderate-income communities.

      “Everyone is talking about OneUnited Bank now, but what they’re not focusing on with OneUnited Bank is they’re heavily engaged in financial education and financial literacy in the cities that need it most,” Tyrone Ross, community director of Altruist, explains. “So I feel like right now, when you support OneUnited, again you get those end roads into their programs they already have instituted to provide access to bank of america las vegas near me education and financial literacy.”

      • Branches: Compton Branch (Coming Soon) (Compton, Calif.), Corporate Office and Crenshaw Branch (Los Angeles, Calif.), Miami Branch (Miami, Fla.), Corporate Headquarters (Boston, Mass.), and Roxbury Branch (Roxbury, Mass.)
      • ATMs: Part of the MoneyPass network
      • States: California, Florida, and Massachusetts
      • Services: Checking, savings, and secured VISA credit card
      • Assets: $650 million
      • Availability: Brick-and-mortar and online

      OPTUS Bank

      The story of OPTUS began in 1921, with the founding of the Victory Savings Bank by a group of African American leaders. OPTUS is committed to helping anyone, regardless of background or situation, build their wealth and improve their lives.

      • Branches: Main Branch (Columbia, S.C.)
      • ATMs: Beltline Branch (Columbia, S.C.), Corporate Office (Columbia, S.C.), and Main Branch (Columbia, S.C.)
      • States: South Carolina
      • Services: Personal (IRAs, consumer loans, etc.) and business (transaction accounts, merchant services, etc.) banking
      • Assets: $161.53 million
      • Availability: Brick-and-mortar and online

      South Side Community Federal Credit Union

      Since 2004, the South Side Community Federal Credit Union has offered access to credit and savings services for its members, in addition to financial education. Individuals are eligible for membership if they live, work, worship, attend school, or belong to an organization that is within Chicago’s South Side.

      • Branches: South Side Community Federal Credit Union (Chicago, Ill.)
      • ATMs: N/A
      • States: Illinois
      • Services: Accounts (savings, checking, etc.), loans (payroll advance, payday alternative, etc.), financial education classes, and other services (transfer sweeps, money orders, etc.)
      • Assets: $5.08 million
      • Availability: Brick-and-mortar and online

      Southern Teachers & Parents Federal Credit Union

      With more than 80 years of service, Southern Teachers & Parents Federal Credit Union provides personalized financial services to its members. Those eligible for membership include alumni, employees, parents, and students of Southern University; employees in Assumption, East Baton Rouge, Lafourche, and West Feliciana parishes; employees in Thibodaux and the Lafourche Parish Juvenile Justice Facility; and their family members.

      • Branches: Main Office (Baton Rouge, La.) and Lafeda Branch (Thibodaux, La.)
      • ATMs: Part of the CU Alliance network
      • States: Louisiana
      • Services: Accounts (checking, savings, and youth), loans, other services (VISA debit and credit cards, financial counseling, etc.)
      • Assets: $30.34 million
      • Availability: Brick-and-mortar and online

      St. Louis Community Credit Union

      Originally chartered in 1942 as the Teachers Credit Union, St. Louis Community Credit Union offers both financial services and several programs to support consumers in the local community. Individuals who live or work in St. Louis City, Franklin, and St. Louis county in Missouri—as well as in St. Clair, Madison, Monroe, and Jersey counties in Illinois—are eligible for membership, in addition to their families.

      • Branches: Ferguson Branch (Ferguson, Mo.), Florissant Branch (Florissant, Mo.), Flower Valley Branch (Florissant, Mo.), Pagedale Branch (Pagedale, Mo.), Richmond Heights (Richmond Heights, Mo.), St. John Branch (St. John), Benton Park Branch (St. Louis, Mo.), Gateway Branch (St. Louis, Mo.), Grace Hill (St. Louis, Mo.), Jennings Branch (St. Louis, Mo.), LifeWise STL (St. Louis, Mo.), Midtown Branch (St. Louis, Mo.), South City (St. Louis, Mo.), Southtown Branch (St. Louis, Mo.), Sullivan Branch (St. Louis, Mo.), University City (University City, Mo.), MET Center (Wellston, Mo.)
      • ATMs: Part of the CO-OP network
      • States: Missouri
      • Services: Loans (auto, personal, etc.), accounts (savings and checking), business development, advocacy, and insurance (life, AD&D, etc.)
      • Assets: $285 million
      • Availability: Brick-and-mortar and online

      The Harbor Bank of Maryland

      Originally opening its doors in September 1982, The Harbor Bank of Maryland offers banking and other financial services, primarily in the Baltimore metropolitan area. Harbor Bank was also the first community bank in the U.S. to have an investment subsidiary and the first to receive funding from Fannie Mae via the Community Development Financial Institution (CDFI) program. Harbor Bank is one of the two banks that are considered “Black-operated” instead of Black-owned.

      • Branches: Inner Harbor East Office (Baltimore, Md.), Main Office (Baltimore, Md.), Pimlico Office (Baltimore, Md.), Research Park Office (Baltimore, Md.), The Harbor Science & Technology Park East Branch (Baltimore, Md.),Randallstown Office (Randallstown, Md.), and Silver Spring (Silver Spring, Md.)
      • ATMs: Inner Harbor East Office (Baltimore, Md.), Main Office (Baltimore, Md.), Pimlico Office (Baltimore, Md.), Research Park Office (Baltimore, Md.), The Harbor Science & Technology Park East Branch (Baltimore, Md.),Randallstown Office (Randallstown, Md.), and Silver Spring (Silver Spring, Md.), in addition to any ATMS in the AllPoint network
      • States: Maryland
      • Services: Personal (checking, mortgages, etc.) and business (checking, savings, etc.) banking, in addition to loans (personal, mortgage, and business)
      • Assets: $327.45 million
      • Availability: Brick-and-mortar and online

      Toledo Urban Federal Credit Union

      Toledo Urban Federal Credit Axis bank net secure login originally opened its doors on July 21, 1996, to help its members achieve economic empowerment. Membership in Toledo’s first community development credit union is available to individuals who live, work, worship, perform volunteer services, or participate in associations headquartered in the central city community, in addition to their families.

      • Branches: Nexus Building (Toledo, Ohio) and Toledo Urban Federal Credit Union (Toledo, Ohio)
      • ATMs: N/A
      • States: Ohio
      • Services: Checking and share accounts, loans (personal, tuition, etc.), credit and ATM/debit cards, credit counseling, and other services (notary service, overdraft protection, etc.)
      • Assets: $10 million
      • Availability: Brick-and-mortar and online

      Tri-State Bank

      In the first 10 years after its founding in 1946, Tri-State Bank of Memphis made more than $10 million in first mortgage loans on homes, representing home ownership for more than 2,000 African American families. Tri-State has also played a critical part in the civil rights movement, including hosting local sit-ins in the bank’s boardroom, providing bail money for protesters, and providing $60,000 in loans to help save the Lorraine Motel, the site of Dr. Martin Luther King’s assassination, from foreclosure in 1982.

      • Branches: Whitehaven (Memphis, Tenn.)
      • ATMs: Whitehaven (Memphis, Tenn.) and any ATMs in the Money Tower network
      • States: Tennessee
      • Services: Personal (checking, savings, etc.), business (checking, savings, etc.), loans (auto, mortgage, etc.), and other services (financial education, Fraud Center, etc.)
      • Assets: $111 million
      • Availability: bank of america las vegas near me and online

      United Bank of Philadelphia

      Originally founded in 1992, United Bank of Philadelphia offers personalized banking services in the Greater Philadelphia area to both individuals and businesses. By providing financing to small businesses in urban areas, United Bank supports their growth and allows them to create jobs with livable wages, thus improving the economic condition of those working in the local community.

      • Branches: Center City (Philadelphia, Pa.) and Progress Plaza (Philadelphia, Pa.)
      • ATMs: C-Town Supermarket (Philadelphia, Pa.), City Hall (Philadelphia, Pa.), Criminal Justice Center (Philadelphia, Pa.), Masjidullah Inc. (Philadelphia, Pa.), Philadelphia Traffic Court (Philadelphia, Pa.), Police Districts (Philadelphia, Pa.), Revolutions at Penn Treaty (Philadelphia, Pa.), The Fillmore-Philadelphia (Philadelphia, Pa.), and West Philadelphia (Philadelphia, Pa.)
      • States: Pennsylvania
      • Services: Personal and business banking (checking, savings, etc.), in addition to loans (SBA and commercial loans)
      • Assets: $54.64 million
      • Availability: Brick-and-mortar and online

      Unity National Bank

      The bank was founded in 1963 and chartered in 1985. “In February 1989, through a series of transactions and diligent efforts, it was acquired from Bay Bancshares by local minority leaders,” the bank’s history reports. Unity focuses on helping to rebuild the community with an emphasis on commercial loans and mortgages. It also works closely with civic organizations and agencies, such as the NAACP and the Third Ward Redevelopment Council.

      • Branches: Atlanta (Atlanta, Ga.) Blodgett (Houston, Texas), and Fort Bend (Missouri City, Texas)
      • ATMs: Atlanta (Atlanta, Ga.) Blodgett (Houston, Texas), and Fort Bend (Missouri City, Texas), in addition to any ATMs in the Select network
      • States: Georgia and Texas
      • Services: Business and personal services (loans, checking and savings accounts, etc.)
      • Assets: $133.61 million
      • Availability: Brick-and-mortar and online

      Urban Upbound Federal Credit Union

      Urban Upbound was founded in 2004, to provide five integrated programs to individuals living in public housing and and other low- and moderate-income neighborhoods. The Urban Upbound Federal Credit Union offers affordable financial services to its members.

      • Branches: Urban Upbound Federal Credit Union (Long Island City, N.Y.)
      • ATMs: N/A
      • States: New York
      • Services: Savings, share certificates, as well as personal and small business loans
      • Assets: $1.35 million
      • Availability: Brick-and-mortar and online

      Virginia State University Federal Credit Union

      Authority to establish the Virginia State College Federal Credit Union was granted on Oct. 19, 1938. On May 22, 1979, the organization’s board of directors voted to change the name to the Virginia State University Federal Credit Union.

      • Branches: Virginia State University Federal Credit Union (South Chesterfield, Va.)
      • ATMs: Virginia State University Federal Credit Union (South Chesterfield, Va.)
      • States: Virginia
      • Services: Loans, accounts (checking, savings, etc.), insurance, and other services (wire transfer, direct deposit, etc.)
      • Assets: $10.17 million
      • Availability: Brick-and-mortar and online
      Источник: https://www.investopedia.com/black-owned-banks-by-state-5024944

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