Enoch Mayfields Bbsc Corp

Bbsc Corp Articles

This acquisition made Bank of America the largest financial services
company in the world. 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. However, taking a
loss Reuters estimated at $3Bn, the Singapore sovereign wealth fund
sold its whole stake in BofA in 1st q., 2009.

Federal bailout

Bank of America received US $20 billion in the federal bailout from
the US government through the Troubled Asset Relief Program (TARP) on
16 January 2009 and also got guarantee of US $118 billion in potential
losses at the company. This was in addition to the $25 billion given to
them in the Fall of 2008 through TARP. The additional payment was part
of a deal with the US government to preserve Bank of America's merger
with the troubled investment firm Merrill Lynch. Since then, members of
the US 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.

Enoch Mayfields Services :Bank
of America is a member of the Global ATM Alliance, a joint venture of
several major international banks that allows customers of the banks to
use their ATM card or check card at another bank within the Global ATM
Alliance with no ATM access fees when traveling internationally. Other
participating banks are Barclays (United Kingdom), BNP Paribas
(France), China Construction Bank (China), Deutsche Bank (Germany),
Santander Serfin (Mexico), Scotiabank (Canada) and Westpac (Australia
and New Zealand). This feature is restricted to withdrawals using a
debit card, though credit card withdrawals are still subject to cash
advance fees and foreign currency conversion fees. Additionally, some
foreign ATMs use Smart Card technology and may not accept non-Smart
Cards.

Bbsc Corp Articles

Bank
of America's Global Corporate and Investment Banking spans the Globe
with divisions in United States, Europe, and Asia. The U.S.
headquarters are located in New York, European headquarters are based
in London, and Asia's headquarters are split between Singapore &
Hong Kong.

Board of directors

Susan Bies, ex-Federal Reserve Board Governor

William Boardman, ex-chairman of Visa International Inc.

Frank P. Bramble Sr, Former Executive Officer, MBNA Corporation

Virgis W. Colbert, (69), Senior Advisor, MillerCoors Company

Charles K. Gifford, Former Chairman, Bank of America Corporation

Charles O. Holliday, Chairman and former CEO of DuPont

D. Paul Jones, lawyer and former CEO at Compass Bancshares, a
Birmingham, Alabama bank now part of Banco Bilbao Vizcaya Argentaria SA

Kenneth D. Lewis, President and Chief Executive Officer, Bank of America Corporation

Monica C. Lozano, Publisher and Chief Executive Officer of La Opinion

Walter E. Massey, Chairman, Bank of America Corporation, President Emeritus, Morehouse College

Thomas J. May, Chairman, President and Chief Executive Officer, NSTAR

Donald Powell, former chairman of the Federal Deposit Insurance Corp.

Charles O. Rossotti, (68) Senior Advisor, The Carlyle Group

Thomas M. Ryan, President and Chief Executive Officer, CVS Caremark Corporation

Acquisition of Merrill Lynch

On September 15, 2008, Bank of America announced its intentions to
purchase Merrill Lynch & Co., Inc. in an all-stock deal worth
approximately $50 billion, about 86% of the Bank of America stock price
at close. Merrill Lynch was at the time within days of collapse, and
the acquisition effectively saved Merrill from bankruptcy. 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. Lehman Brothers filed for bankruptcy
the same day Bank of America announced its plans to acquire Merrill
Lynch.

Enoch Mayfields :
Following the US$64.8 billion acquisition of BankAmerica by
NationsBank, the resulting Bank of America had combined assets of
US$570 billion, as well as 4,800 branches in 22 states. Despite the
mammoth size of the two companies, federal regulators insisted only
upon the divestiture of 13 branches in New Mexico, in towns that would
be left with only a single bank following the combination. This is
because branch divestitures are only required if the combined company
will have a larger than 25 percent FDIC deposit market share in a
particular state or 10 percent deposit market share overall.

Enoch Mayfields Bbsc Corp Business
John T. Collins, Chief Executive Officer, The Collins Group, Gary L.
Countryman, Chairman Emeritus, Liberty Mutual Group, and William Barnet
III, Chairman, President and Chief Executive Officer, The Barnet
Company, and mayor of Spartanburg, SC, resigned from the Board in July,
2009, pushing the total of departures to ten since April, 2009,
reported Bloomberg News. Barnet, Collins and Countryman had joined the
Board after the 2004 purchase of FleetBoston Corp. Others to depart the
Board in 2009 included Tommy Franks, Retired General, United States
Army (joined Board in 2005); Admiral Joseph Prueher; Jackie M. Ward,
Retired Chairman/CEO, Computer Generation; Patricia E. Mitchell,
President and Chief Executive Officer, The Paley Center for Media; O.
Temple Sloan, Jr., lead director of BofA and Chairman, General Parts
International; and Robert Tillman, retired CEO at Lowe's Cos. Meredith
Spangler, Trustee and Board Member, resigned after reaching 72, the
bank’s age limit.

Enoch Mayfields
Bank of America's Global Corporate and Investment Banking spans the
Globe with divisions in United States, Europe, and Asia. The U.S.
headquarters are located in New York, European headquarters are based
in London, and Asia's headquarters are split between Singapore &
Hong Kong.

Board of directors

Susan Bies, ex-Federal Reserve Board Governor

William Boardman, ex-chairman of Visa International Inc.

Frank P. Bramble Sr, Former Executive Officer, MBNA Corporation

Virgis W. Colbert, (69), Senior Advisor, MillerCoors Company

Charles K. Gifford, Former Chairman, Bank of America Corporation

Charles O. Holliday, Chairman and former CEO of DuPont

D. Paul Jones, lawyer and former CEO at Compass Bancshares, a
Birmingham, Alabama bank now part of Banco Bilbao Vizcaya Argentaria SA

Kenneth D. Lewis, President and Chief Executive Officer, Bank of America Corporation

Monica C. Lozano, Publisher and Chief Executive Officer of La Opinion

Walter E. Massey, Chairman, Bank of America Corporation, President Emeritus, Morehouse College

Thomas J. May, Chairman, President and Chief Executive Officer, NSTAR

Donald Powell, former chairman of the Federal Deposit Insurance Corp.

Charles O. Rossotti, (68) Senior Advisor, The Carlyle Group

Thomas M. Ryan, President and Chief Executive Officer, CVS Caremark Corporation

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