In 2024, JPMorgan Chase invested $20 million to support home buyers in underserved communities across the US.
2. Bank of America
- Consolidated assets: $2.56 trillion
- Market cap: $348.38 billion
Trailing closely behind in the second spot is Bank of America, another major powerhouse in the US banking sector. It boasts a whopping $2.56 trillion in consolidated assets, with an extensive range of banking services catering to both individuals and businesses alike.
Bank of America is supported by a vast network of over 3,900 branches across the US, along with several foreign branches. On top of this, Bank of America has more than 15,000 ATMs that are accessible to its customers.
In 2008 and 2009, Bank of America acquired Merrill Lynch and Bank of America Merrill Lynch. The former, now called Merrill since it dropped Lynch off its name, was focused on investment management and wealth management. It was Bank of America’s stock brokerage and trading arm.
On the other hand, Bank of America Merrill Lynch, now known as BofA Securities, Inc., also deals in investment banking as well as global and capital finance markets.
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