Bbsc Corp Articles - About Enoch Mayfields

In addition to its new eco-friendly office tower in Manhattan, Bank of
America has pledged to spend billions on commercial lending and
investment banking for projects that it considers "green." The
corporation supplied all of its employees with cash incentives to buy
hybrid vehicles, and began providing mortgage loan breaks for customers
whose homes qualified as energy efficient. 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. The corporation is also constructing the One Bank of
America Center in Downtown Charlotte. The tower, and the accompanying
hotel, will be a LEED-certified building.

Four members—Bies, Boardman, Powell, and Jones—were named to
the Board in June, 2009. Membership totalled 13 by August, 2009. More
additions were expected, according to the Bloomberg report.

Social responsibility

Bbsc Corp Business In
1997, BankAmerica lent D. E. Shaw & Co., a large hedge fund, $1.4bn
so that the hedge fund would run various businesses for the bank.
However, D.E. Shaw suffered significant loss after the 1998 Russia bond
default. BankAmerica was acquired by NationsBank later that year in
October.

Consumer

Global Consumer and Small Business Banking (GC&SBB) is the
largest division in the company, and deals primarily with consumer
banking and credit card issuance. The acquisition of FleetBoston and
MBNA significantly expanded its size and range of services, resulting
in about 51% of the company's total revenue in 2005. It competes
directly with the retail banking divisions of Citigroup and JPMorgan
Chase. The GC&SBB organization includes over 6,100 retail branches
and over 18,700 ATMs across the United States.

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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.

A Expansion into New York City (right).

Bank of America Tower in New York City.

Bank of America has recently spent $675 million building its US
investment banking business and is looking to become one of the top
five investment banks worldwide. "Bank of America already has excellent
relationships with the corporate and financial institutions world. Its
clients include 98% of the Fortune 500 companies in the US and 79% of
the Global Fortune 500. These relationships, as well as a balance sheet
that most banks would kill for, are the foundations for a lofty
ambition."

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