Company Directory - Bank of America Corporation
Company Details - Bank of America Corporation
Bank of America Corporation
WebsiteCharlotte, United States
ISIN: US0645081045
4000 Locations
Bank of America Corporation is a multinational banking and financial services corporation offering a wide range of products and services, including consumer banking, corporate banking, investment management, and wealth management.
CCI Score
CCI Score: Bank of America Corporation
-20.11
0.01%
Latest Event
Bank of America Branch Closures Impact Digital Divide
Bank of America, along with several other major banks, is closing numerous branches as part of a national shift toward digital banking. This trend, reported by Newsweek on March 28, 2025, may disproportionately impact marginalized communities that lack reliable internet access or digital literacy, reducing their access to essential financial services.
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ACCOMPLICE
Bank of America Corporation is currently rated as an Accomplice.
Latest Events
- MAR282025
Bank of America, along with several other major banks, is closing numerous branches as part of a national shift toward digital banking. This trend, reported by Newsweek on March 28, 2025, may disproportionately impact marginalized communities that lack reliable internet access or digital literacy, reducing their access to essential financial services.
- FEB252025
Bank of America, in a filing on February 25, 2025, announced it is removing references to diversity hiring goals and a mandatory rule for hiring managers to consider diverse candidate pools. The move, explained as a response to new laws, court decisions, and executive orders under President Donald Trump, reverses policies outlined in the bank's previous proxy statement and represents a rollback of initiatives aimed at promoting inclusion in the workplace.
-90
Executive Political Engagement
April 3
By scrapping its diversity hiring guidelines, Bank of America appears to be aligning its policies with the current administration's executive orders, effectively undercutting progressive practices that support marginalized communities. This action demonstrates executive political engagement that many view as a capitulation to authoritarian directives.
Bank of America scraps diversity goals for hiring and interviewing candidates
-90
Labor Relations and Human Rights Practices
April 3
Scrapping DEI goals undermines efforts to ensure fair labor practices and equal opportunities for historically marginalized groups. This decision detracts from the bank’s responsibility to support human rights in the workplace, marking a significant step back in ethical business practices.
Bank of America scraps diversity goals for hiring and interviewing candidates
- FEB252025
On Feb. 25, 2025, Bank of America ended its aspirational diversity hiring targets and replaced diversity language with 'talent' and 'opportunity' in its annual report, indicating a move away from DEI initiatives that support marginalized communities.
-50
Labor Relations and Human Rights Practices
April 3
By removing aspirational diversity hiring targets, Bank of America is scaling back its commitment to inclusion and worker rights. This action undermines efforts to support marginalized communities and reflects a trend toward deprioritizing DEI, aligning with broader anti-inclusive policies.
All The Major Companies And Orgs Dumping Their DEI Programs ... - Forbes
- FEB062025
Bank of America PAC contributed $490000 to federal candidates in the 2023-2024 election cycle as shown by FEC data released on February 06, 2025, raising concerns about corporate influence over political processes.
-50
Political Contributions and Lobbying Efforts
March 18
Bank of America's sizable PAC contribution of $490,000 to federal candidates reflects deep involvement in political financing. From a left-leaning perspective, such political contributions may help entrench existing power structures and facilitate corporate influence over policy-making, which can indirectly support authoritarian outcomes.
Bank of America PAC Contributions to Federal Candidates • OpenSecrets
- JAN232025
After President Trump accused Bank of America of refusing to serve conservatives, the bank reiterated its commitment to non-discrimination, stating that it serves over 70 million clients without a political litmus test and affirmed its willingness to engage with the Trump administration on regulatory issues related to de-banking practices.
+20
Public and Political Behavior
April 9
Bank of America's public reaffirmation of its inclusive policy and non-partisan service, in response to Trump's politicized attack, positions the bank as upholding democratic values and resisting authoritarian pressure. This clear stance in its public communication against politically motivated discrimination earns a positive score.
Trump takes shot at Bank of America, revives claims of discrimination at major banks
+15
Business Practices and Ethical Responsibility
April 9
The bank's clear statement that account decisions are based solely on legal and operational criteria, and their longstanding practice of serving a diverse range of clients—including faith-based groups—demonstrates ethical business practices. This response counters any suggestion of political or discriminatory bias.
Trump takes shot at Bank of America, revives claims of discrimination at major banks
- JAN232025
Bank of America demonstrated significant involvement in political funding during the 2024 election cycle, with contributions of $4.23M and lobbying expenditures of $2.4M. The data highlights a revolving door trend where a notable portion of their lobbyists are former government employees, raising concerns about undue influence on democratic processes and potential alignment with authoritarian interests.
-35
Public and Political Behavior
March 18
The profile reveals that Bank of America has engaged in significant political contributions and lobbying efforts during the 2024 cycle, donating over $4.23 million to political campaigns and spending $2.4 million on lobbying activities. Furthermore, the revolving door aspect—where a majority of its lobbyists are former government officials—suggests a deep entanglement between corporate and political spheres, which from an anti-fascist perspective exacerbates concerns about the erosion of democratic accountability.
- JAN152025
In response to President Trump’s criticisms alleging conservative discrimination, Bank of America issued a public statement at the World Economic Forum in Davos, affirming that it welcomes conservatives among its 70 million clients and would never close accounts for political reasons.
+40
Public and Political Behavior
April 9
Bank of America's clear statement that it does not use political affiliation as a litmus test for account management directly counters claims of partisan bias. This stance, taken in response to high-profile comments from President Trump, reinforces a commitment against politically motivated discrimination, aligning with anti-authoritarian and inclusive practices.
Bank of America Responds to Trump: 'We Welcome Conservatives'
- SEP112024
Bank of America announced an increase in its minimum wage to $24 per hour starting next month, marking a progressive step in enhancing employee wages and labor conditions. This move underscores the corporation's commitment to improving worker rights and reducing income disparity.
+80
Labor Relations and Human Rights Practices
March 18
The wage increase is a significant measure to improve labor conditions, directly benefiting employees by raising the minimum wage closer to a living wage. This action reflects positively on Bank of America's commitment to fair labor practices and worker rights, positioning the company in opposition to exploitative labor practices often seen in authoritarian economic systems. It sets a positive precedent for other financial institutions to follow.
Bank of America is raising its minimum wage for all its employees starting next month
- JUN302024
Bank of America has detailed its comprehensive political contributions policy and extensive lobbying efforts, including its PAC program and contributions to 527 and 501(c)(4) organizations. While the company adheres to strict compliance procedures, the scale of its multimillion-dollar lobbying expenditures raises concerns about its influence on democratic processes and potential complicity in sustaining corporate power structures.
-30
Political Contributions and Lobbying Efforts
March 18
Bank of America's public disclosure of its political contributions and lobbying expenditures, including detailed rules for PAC funding and contributions to various political organizations, indicates a significant investment in influencing public policy. Despite strong compliance and balanced contributions, the large sums involved could be interpreted by anti-fascist perspectives as a means to bolster institutional power and undermine democratic accountability.
- JUN302024
Evaluation of Bank of America's political contributions and lobbying practices reveals a significant level of corporate political engagement. While the bank emphasizes compliance and transparency in its disclosures, its multi-million-dollar lobbying expenditures and contributions to both Democratic and Republican affiliated organizations may contribute to enabling authoritarian policy influences. From an anti-fascist perspective, this level of political involvement is seen as potentially undermining democratic accountability.
-40
Political Contributions and Lobbying Efforts
March 18
Bank of America's Political Contributions and Lobbying Efforts involve substantial financial outlays—such as multi-million-dollar lobbying expenses and contributions to various 527 organizations—which, despite being disclosed and governed by internal compliance measures, can augment corporate influence in politics. This involvement is viewed through an anti-fascist lens as contributing to a political environment that may enable or embolden authoritarian practices.
- JUN302024
Bank of America's detailed policy statement outlines its approach to corporate political contributions, the operation of its Political Action Committee (PAC), and comprehensive lobbying expenditures. The statement highlights balanced contributions to both 527 organizations and 501(c)(4) groups, along with strict internal compliance and governance measures, including support for groups like the Human Rights Campaign.
+20
Political Contributions and Lobbying Efforts
April 3
The disclosed political contributions and lobbying practices demonstrate transparency and a balanced approach to political engagement. Bank of America's commitment to strict governance—such as channeling employee contributions through its PAC and ensuring that funds are used solely for administrative purposes—supports ethical political behavior. Contributions to groups like the Human Rights Campaign further indicate a measure of progressive alignment, though ongoing lobbying activities highlight the complex role corporations play in political influence.
- JUN262024
In June 2024, Bank of America published its Modern Slavery Act Statement outlining comprehensive measures to combat modern slavery and human trafficking across its operations and supply chain. The statement details policies on human rights, ethical labor practices, supply chain due diligence, and continuous employee training on these critical issues.
+80
Labor Relations and Human Rights Practices
April 3
Bank of America's statement emphasizes robust internal policies, mandatory training, and strict adherence to international labor standards, demonstrating a strong commitment to protecting workers' human rights and minimizing exploitation risks. This proactive approach to labor relations and human rights practices earns a positive score.
+60
Supply Chain Ethics
April 3
The document details strict supplier vetting and due diligence processes to ensure that its global supply chain is free from forced labor and modern slavery. This focus on supply chain ethics contributes positively by aligning business practices with internationally recognized human rights and ethical standards.
- MAY062024
A forum post details tragic working conditions at Bank of America following an associate's death, sparking calls for unionization and exposing poor labor practices.
-80
Labor Relations and Human Rights Practices
March 18
The forum post outlines severe and inhumane working conditions that contributed to an associate's death, underscoring systemic neglect of labor rights at Bank of America. The push for unionization indicates employees are compelled to organize against an oppressive work environment, reflecting negatively on the company's labor relations and human rights practices.
- APR252024
Fifteen state attorneys general sent a letter demanding a report on Bank of America's account cancellation policies, alleging a recurring pattern of debanking customers—particularly those with conservative political and religious views, including Christian-based ministries and ICE contractors—with claims that such practices may be politically motivated and discriminatory.
-60
Public and Political Behavior
April 9
The letter from state attorneys general highlights concerns that Bank of America's debanking practices are politically motivated, potentially discriminating against customers based on their political and religious beliefs. This politicized approach to service termination undermines equal access to financial services and aligns with broader patterns of exclusionary conduct that may legitimize authoritarian practices.
15 State AGs Confront Bank of America for Canceling Conservative Accounts
-50
Business Practices and Ethical Responsibility
April 9
Allegations that Bank of America has been canceling accounts based on political or religious affiliation point to discriminatory business practices. Such conduct undermines fair treatment of consumers and reflects an unethical approach in handling customer relationships, raising concerns about the bank’s broader commitment to non-discriminatory practices.
15 State AGs Confront Bank of America for Canceling Conservative Accounts
- APR192024
Reports allege that Bank of America may have closed customer accounts based on political and religious views, prompting boycott calls from MAGA supporters and a letter from 15 Republican attorneys general warning CEO Brian T. Moynihan. The bank denies the allegations, asserting that account closures are not driven by political or religious beliefs.
-50
Public and Political Behavior
April 3
The allegations of de-banking based on political and religious beliefs, if true, indicate discriminatory practices that undermine free expression and democratic values. Such actions mirror authoritarian tendencies by punishing customers for their political views. Although Bank of America denies these claims, the political backlash—including calls for boycott and intervention from state AGs—highlights serious concerns over potential politicization of financial services.
Bank of America Boycott Calls Grow After MAGA Accounts Closed - Newsweek
- APR182024
A group of state financial officers from 13 states warned Bank of America about its alleged 'de-banking' practices, citing instances where accounts belonging to conservative and religious organizations were closed. The letter criticized the bank's actions as politically and religiously biased, potentially harming civil liberties and financial fairness.
-50
Public and Political Behavior
April 3
The bank is accused of engaging in politically discriminatory practices by closing accounts based on conservative or religious affiliations. Such actions undermine democratic participation and free speech, aligning with authoritarian biases. The negative rating reflects the serious concerns raised by state financial officers regarding the bank's public and political behavior.
State financial officers put Bank of America on notice for allegedly 'de-banking' conservatives
-40
Business Practices and Ethical Responsibility
April 3
The alleged practice of closing accounts based on an organization's political or religious views reflects unethical business practices. The actions, including the deactivation of accounts belonging to Christian organizations, raise serious concerns about the bank's commitment to fair and non-discriminatory financial practices.
State financial officers put Bank of America on notice for allegedly 'de-banking' conservatives
- APR162024
Attorney General Jason Miyares, backed by a 15‐state coalition, has demanded that Bank of America cease its practice of debanking conservative and religious customers, accusing the bank of politically motivated discrimination that undermines constitutional liberties.
-75
Public and Political Behavior
April 9
Bank of America's practice of debanking customers based on their political and religious views represents a clear instance of politically motivated discrimination. This behavior challenges democratic principles and free expression, warranting a significant negative rating under Public and Political Behavior.
Attorney General Miyares Demands Bank of America Cease Practice of Debanking Conservatives
-60
Business Practices and Ethical Responsibility
April 9
The discriminatory debanking practice by Bank of America not only violates principles of ethical business conduct but also exposes the bank to legal liabilities under consumer protection and antidiscrimination laws, marking a serious failure in business practices and ethical responsibility.
Attorney General Miyares Demands Bank of America Cease Practice of Debanking Conservatives
- MAR112024
The article highlights the increasing trend of unionization within the banking and finance sector. Although Bank of America is not directly mentioned, as a major national bank, its labor practices are implicitly subject to the same pressures for improved worker rights. The surge in union activities, evidenced by efforts at institutions like Wells Fargo and various credit unions, underscores a broader movement towards better labor relations, which counters oppressive corporate practices and supports anti-fascist principles.
+80
Labor Relations and Human Rights Practices
March 18
The observed rise in unionization signals enhanced labor rights and fair working conditions in an industry historically challenged by low union presence and poor labor practices. This trend supports the broader anti-authoritarian agenda by empowering workers and countering exploitative corporate behavior. Although Bank of America is not mentioned explicitly, as a significant player in the industry, it is expected to benefit from and respond to similar pressures, thereby potentially improving its labor relations.
- JAN252024
Bank of America has threatened workers with disciplinary action to enforce its return-to-office mandate, raising serious concerns around labor rights and worker autonomy.
-50
Labor Relations and Human Rights Practices
March 18
The article details how Bank of America is using threats and disciplinary action against workers who do not comply with return-to-office mandates, reflecting a disregard for labor rights and fair treatment in the workplace. This action supports an authoritarian management style that suppresses worker dissent and undermines democratic labor practices.
- JAN012024
OpenSecrets data reveals that 12 out of 15 Bank of America lobbyists in 2023 and 11 out of 17 in 2024 have previously held government positions. This revolving door phenomenon raises concerns about potential undue influence on policymaking and democratic accountability.
-60
Political Contributions and Lobbying Efforts
April 3
The data from OpenSecrets indicates a high incidence of former government officials among Bank of America's lobbyists, a clear sign of revolving door practices that may compromise democratic processes and foster authoritarian influence. Such connections can enable undue corporate influence over policy, undermining transparency and accountability.
- JAN012024
Bank of America published a comprehensive Human Rights Statement outlining its commitment to upholding internationally recognized human rights, enforcing ethical practices across its supply chain, promoting diversity and inclusion, and safeguarding employee rights. The statement details enhanced due diligence measures for suppliers and clients, training for employees, and engagement with stakeholders, all aimed at mitigating adverse human rights impacts.
+80
Labor Relations and Human Rights Practices
April 3
The released Human Rights Statement demonstrates a robust commitment to ethical business practices and the protection of human rights, including fair labor practices and respect for diversity. By clearly outlining expectations for suppliers and actively engaging with both internal and external stakeholders, Bank of America positions itself as a progressive institution that resists authoritarian and oppressive practices, thereby earning a positive rating from an anti-fascist perspective.
- DEC312023
Bank of America spent $2.92 million on lobbying activities in 2023, as reported by OpenSecrets. The expenditure points to an effort to shape federal policy that may prioritize corporate interests over public accountability.
-70
Political Contributions and Lobbying Efforts
April 3
The reported $2.92 million spent on lobbying indicates significant corporate engagement in influencing political processes. While corporate lobbying is common, such high spending can contribute to regulatory capture and undermine democratic accountability, thereby raising concerns from an anti-authoritarian perspective.
- MAR272023
Bank of America is facing a lawsuit alleging racial discrimination due to alleged poor maintenance of foreclosed homes in Black and Latino neighborhoods, highlighting potential neglect towards ethical responsibility and racial justice.
-60
Business Practices and Ethical Responsibility
March 18
The lawsuit alleges that Bank of America engaged in discriminatory practices by neglecting the maintenance and marketing of foreclosed homes in predominantly Black and Latino neighborhoods. This behavior, which has led to significant deficiencies in property upkeep, reflects a disregard for ethical business practices and racial justice, constituting complicity in systemic discrimination.
- SEP302019
Bank of America will pay $4.2 million to settle government allegations of race and sex bias in hiring practices at multiple sites, and has agreed to a proactive nationwide monitoring agreement to address these issues.
-60
Labor Relations and Human Rights Practices
April 9
The settlement follows government allegations that Bank of America engaged in discriminatory hiring practices affecting black, Hispanic, and female applicants. Although the bank agreed to enhanced monitoring of its hiring practices nationwide, the underlying bias has serious negative implications for marginalized communities and reflects unethical labor practices.
Bank of America to Pay $4.2 Million to Settle Hiring Bias Claims
- AUG312016
Bank of America is accused of systematically neglecting maintenance on foreclosed properties in minority neighborhoods, evidencing racial discrimination. Evidence from the National Fair Housing Alliance indicates that properties in African American and Latino communities were poorly maintained compared to those in predominantly white neighborhoods, reinforcing systemic racial inequities.
-85
Labor Relations and Human Rights Practices
March 18
The investigation alleges that Bank of America's discriminatory maintenance practices for foreclosed properties in minority neighborhoods highlight a systematic neglect of its ethical responsibilities, effectively reinforcing racial inequality and supporting oppressive systems. This behavior aligns with broader patterns of corporate complicity in practices that undermine the rights of marginalized communities.
Bank of America Accused of Racial Discrimination in 30 U.S. Metropolitan Areas and 201 Cities
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Corporate Financials
- Revenue
- 2022
- $114.20B
- Total Assets
- 2022
- $3.03T
- Operating Income
- 2022
- $38.50B
- Total Equity
- 2022
- $245.00B
Employees: 202,000
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- 522130
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- Other Activities Related to Credit Intermediation
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- Insurance Agencies and Brokerages
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- Trusts, Estates, and Agency Accounts
- 523110
- Investment Banking and Securities Dealing
- 523120
- Securities Brokerage
- 523930
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- Savings Institutions