<P> Bank of America provides its products and services through 4,600 retail financial centers, approximately 15,900 automated teller machines, call centers, and online and mobile banking platforms . The bank's Consumer Real Estate Services segment offers consumer real estate products comprising both fixed and adjustable - rate first - lien mortgage loans for home purchase and refinancing needs, home equity lines of credit, and home equity loans . </P> <P> Bank of America has been the subject of many lawsuits and investigations regarding both mortgages and financial disclosures dating back to the financial crisis, including a record settlement of $16.65 billion on August 21, 2014 . </P> <P> The history of Bank of America dates back to October 17, 1904, when Amadeo Pietro Giannini founded the Bank of Italy in San Francisco . The Bank of Italy served the needs of many immigrants settling in the United States at that time, providing services denied to them by the existing American banks which typically discriminated against them and often denied service to all but the wealthiest . Giannini was raised by his mother and stepfather Lorenzo Scatena, as his father was fatally shot over a pay dispute with an employee . When the 1906 San Francisco earthquake struck, Giannini was able to save all deposits out of the bank building and away from the fires . Because San Francisco's banks were in smoldering ruins and unable to open their vaults, Giannini was able to use the rescued funds to commence lending within a few days of the disaster . From a makeshift desk consisting of a few planks over two barrels, he lent money to those who wished to rebuild . </P> <P> In 1922, Giannini established Bank of America and Italy . In 1986, Deutsche Bank AG acquired 100% of Banca d'America e d'Italia, a bank established in Naples in 1917 following the name - change of Banca dell'Italia Meridionale with the latter established in 1918 . In 1918 another corporation, Bancitaly Corporation, was organized by A.P. Giannini, the largest stockholder of which was Stockholders Auxiliary Corporation . This company acquired the stocks of various banks located in New York City and certain foreign countries . </P>

The organization that today is known as the bank of america did start out in america