Bank of America
A bank that keeps money safe, lends money and offers cards to millions of people.
📖 Its story
In 1904, Amadeo Giannini, the son of Italian immigrants, opened the Bank of Italy in San Francisco to help working people that other banks ignored. When a big earthquake destroyed the city in 1906, he kept lending money from a desk on the street. Over the years his bank became Bank of America.
💵 How it makes money
It charges interest on the loans it makes and fees for its services.
🤯 Fun fact
In 1958 it launched the BankAmericard, which over time became Visa.
👍 The good part
It helps millions of families and businesses save money and get loans.
⚠️ The risk
If lots of people can't pay back their loans, the bank loses money.
🧠 Did you get it?
What famous card grew out of the BankAmericard?
🗂️ Quick facts
- Founded in: 1904
- Founded by: Amadeo Giannini
- Home: Charlotte, North Carolina, USA
🔎 How to find it on the stock market
- Search the internet for BAC stock.
- You can also find it in your parents' investing app with the letters BAC.
- Check how much one share costs and whether today it's green (went up) or red (went down).
🎮 Buy it in the game
Soon you'll be able to invest your Monis in Bank of America. Ask your mom or dad to join the list.
Join the list