Bank of America was founded by Amadeo Giannini in 1904. Bank of America started out being called Bank Of Italy. Amadeo brought a bank in Italy and then changed the name of the bank to Bank of America. Amadeo provided services to immigrants that many traditional banks wouldn’t due to discrimination. In the San Francisco Fire of 1906 many banks were burned to the ground some how Amadeo moved all of the deposits out of his bank and within a few days he was back in business giving out loans. All the loans that Amadeo lent out during the fire were repaid. Once Branch Banking was allowed by California, Amadeo expanded Bank Of America to over 453 locations throughout the State of California from 1909 to 1929. Read about the History of Bank Of America. Click the link.
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