# Bank of America

> Bank of America is a publicly traded financial services group combining U.S. consumer and small business banking, Merrill wealth management, private banking, corporate lending, investment banking, markets and global payments. Its advantage is the combination of deposits, distribution, advice and technology across a broad customer relationship.

- **Founded:** 1998
- **Headquarters:** Charlotte, United States
- **Founders:** Amadeo Peter Giannini (Founder of predecessor Bank of Italy (1904); not sole founder of the modern 1998 corporation)
- **Products:** Consumer banking, Erica, Merrill, Bank of America Private Bank, CashPro
- **Notable:** 2025 net income of US$30.5 billion., Erica reached two billion interactions in April 2024., CashPro facilitated 213 million payments in the first half of 2026.

## Products & services

- **Consumer banking** — Checking and savings accounts, credit and debit cards, mortgages, home equity and auto lending, supported by digital banking, ATMs and financial centers.
- **Erica** — Virtual financial assistant in the mobile banking app for account information, transaction assistance and proactive financial insights.
- **Merrill** — Wealth management, financial advice and investment services, including Merrill Edge self-directed investing.
- **Bank of America Private Bank** — Wealth planning, investment management, trust and estate services for wealthy clients and families.
- **CashPro** — Corporate and institutional platform for payments, liquidity, treasury and related financial information.
- **Payments Insights** — CashPro analytics capability for payment efficiency, cross-border flows and working-capital performance on U.S. accounts.
- **Corporate and investment banking** — Commercial credit, capital raising, mergers and acquisitions advice, markets access and risk management.
- **Better Money Habits** — Free financial education; the financial literacy collaboration with Khan Academy began in 2013.

## Achievements

- 2025 net income of US$30.5 billion.
- Erica reached two billion interactions in April 2024.
- CashPro facilitated 213 million payments in the first half of 2026.
- Raised U.S. minimum hourly wage to US$25 effective October 2025.

## Latest updates

- **2026-10** — Reported third-quarter revenue of US$30.0 billion, net of interest expense, and net income of US$6.9 billion; results included a US$1.2 billion regulatory settlement charge.
- **2026-09** — Launched Payments Insights for CashPro and announced Bradesco’s first cross-border real-time payment pilot.
- **2026-07** — Enhanced EricaAssist with generative AI; said more than 18,000 service representatives used it and average call time fell by nearly one minute.

## Links

- Website: https://www.bankofamerica.com/
- LinkedIn: https://www.linkedin.com/company/bank-of-america
- Twitter/X: https://twitter.com/BankofAmerica
- YouTube: https://youtube.com/@BankofAmerica
- Instagram: https://www.instagram.com/bankofamerica/
- Facebook: https://www.facebook.com/BankofAmerica
- TikTok: https://www.tiktok.com/@bankofamerica

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Profile page: https://yespress.io/bank-of-america
Published by YesPress — https://yespress.io
Last updated: 2026-10-22