Business - Companies
Bank of America
In the last half of the 20th century, North Caroline National Bank (NCNB) began a string of acquirements that ultimately pulled together more than several thousand banks, and fashioned today's Bank of America. They have retained their headquarters in Charlotte, North Carolina, and have grown to be a global business. Through the years, generation after generation, the financial institutions that are part of their legacy have played a role in the development of this country's culture and economy. With a pledge to awaiting the needs of their customers and a drive to spark opportunity, Bank of America continues a proud tradition of improvement, performance and service (Our Heritage, 2010).
Facts and Findings
Bank of America is committed to making opportunities possible for customers and clients by reacting to their financial needs, helping compel economic growth and supporting the neighborhoods where they do business. The company has supported areas across the country by way of its charitable giving, neighborhood development lending and investing in underserved areas, and environmental proposals for many years. The bank is responding to the present housing and economic issues affecting neighborhoods around the globe, including enhancing programs to help customers make well-informed financial decisions and supporting legislative reform to better protect customers (Bank of America Releases First Corporate Social Responsibility Report, 2011).
The Board at Bank of America strongly believes that good corporate governance practices are vital for successful business performance. Their Board has adopted Bylaws, Corporate Governance Guidelines and committee charters, which provide the basis for the governance of the company. Over the past year, they have improved their corporate governance practices in significant ways, including amending their bylaws to permit the holders of at least ten percent of their common stock to call a special meeting of the stockholders. Additionally, they altered...
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