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In 2024, JPMorgan Chase invested $20 million to help house consumers in underserved communities throughout the US.
2. Financial institution of America
Consolidated property: $2.56 trillion
Market cap: $348.38 billion
Trailing carefully behind within the second spot is Financial institution of America, one other main powerhouse within the US banking sector. It boasts a whopping $2.56 trillion in consolidated property, with an intensive vary of banking companies catering to each people and companies alike.
Financial institution of America is supported by an unlimited community of over 3,900 branches throughout the US, together with a number of international branches. On prime of this, Financial institution of America has greater than 15,000 ATMs which can be accessible to its clients.
In 2008 and 2009, Financial institution of America acquired Merrill Lynch and Financial institution of America Merrill Lynch. The previous, now known as Merrill because it dropped Lynch off its title, was targeted on funding administration and wealth administration. It was Financial institution of America’s inventory brokerage and buying and selling arm.
Alternatively, Financial institution of America Merrill Lynch, now referred to as BofA Securities, Inc., additionally offers in funding banking in addition to world and capital finance markets.
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