parties, and responding to customer inquiries. The company’s home retention efforts, including single point of contact resources, are also part of its servicing activities, along with supervision of foreclosures and property dispositions. Prior to foreclosure, LAS evaluates various workout options in an effort to help the company’s customers avoid foreclosure. All Other All Other consists of ALM activities, equity investments, the international consumer card business, liquidating businesses, residual expense allocations and other. ALM activities include certain residential mortgages, debt securities, interest rate and foreign currency risk management activities, including the residual net interest income allocation, the impact of certain allocation methodologies and accounting hedge ineffectiveness. The results of certain ALM activities are allocated to the company’s business segments. Additionally, certain residential mortgage loans that are managed by LAS are held in All Other. Equity investments include the company’s merchant services joint venture, as well as Global Principal Investments, which includes a portfolio of equity, real estate and other alternative investments. Government Supervision and Regulation As a registered financial holding company and bank holding company, the company is subject to the supervision of, and regular inspection by, the Board of Governors of the Federal Reserve System (Federal Reserve). The company’s U.S. banking subsidiaries (the banks) organized as national banking associations are subject to regulation, supervision and examination by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve. The company’s broker-dealer subsidiaries are subject to both the U.S. and international regulation, including supervision by the U.S. Securities and Exchange Commission (SEC), the New York Stock Exchange, and the Financial Industry Regulatory Authority, among others; its commodities businesses in the U.S. are subject to regulation by and supervision of the U.S. Commodity Futures Trading Commission (CFTC); its U.S. derivatives activity is subject to regulation and supervision of the CFTC and National Futures Association or the SEC, and in the case of the banks, certain banking regulators; the company’s insurance activities are subject to licensing and regulation by state insurance regulatory agencies; and its consumer financial products and services are regulated by the Consumer Financial Protection Bureau (CFPB). The company’s financial services operations in the U.K. are subject to regulation by and supervision of the Prudential Regulatory Authority for prudential matters, and the Financial Conduct Authority for the conduct of business matters. Pursuant to Section 23A and 23B of the Federal Reserve Act, as implemented by the Federal Reserve’s Regulation W, the banks are subject to restrictions that limit certain types of transactions between the banks and their nonbank affiliates. Certain federal consumer finance laws to which the company is subject, including but not limited to, the Equal Credit Opportunity Act, the Home Mortgage Disclosure Act, the Electronic Fund Transfer Act, the Fair Credit Reporting Act, the Real Estate Settlement Procedures Act, the Truth in Lending Act and Truth in Savings Act, are enforced by the CFPB. The Gramm-Leach-Bliley Act requires the banks to periodically disclose the company’s privacy policies and practices relating to sharing such information and enables retail customers to opt out of its ability to share information with unaffiliated third parties under certain circumstances. History Bank of America Corporation was founded in 1874.
bank of america corp
(BAC:New York Consolidated)
Bank of America Corporate Center
100 North Tryon Street
Charlotte, NC 28255
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