what is the difference between bank of america and merrill lynch?
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Bank of America (BAC) said Monday that it will no longer use the Merrill Lynch name for its investment banking and trading divisions. Instead, these businesses will form a unit called BofA Securities. ... US Trust, which Bank of America bought in 2007, will now be called the Bank of America Private Bank, the bank said.
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Bank of America is a good option for a mortgage or refinance. Although it may not stand out for customer service (it scores “average” in JD Power's customer survey), it does have lower rates on average than many other big lenders.
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Investment banks and retail banks perform different functions and have different clients. An investment bank provides funding and advisory services for institutional clients that invest in capital markets while retail banks provide banking services and loans to individuals or small businesses.
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Premium Rewards: The Bank of America Premium Rewards credit card gives you a full 1 cent per point. You can redeem a minimum of 2,500 points for a $25 statement credit, or you can direct deposit to a Bank of America or Merrill banking account. This is the best way to redeem Premium Rewards.
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What makes banks and credit unions different from each other is their profit status. Banks are for-profit, meaning they are either privately owned or publicly traded, while credit unions are nonprofit institutions. This for-profit vs.
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From the Bank of America website FAQs: Notary services are available at some financial centers and are provided to Bank of America customers at no charge for most types of transactions. Call ahead to make sure a notary is on duty and will notarize your type of document.
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The primary difference in the battle of accounting vs finance is that accounting has a relatively narrow focus, while finance is wider-ranging, covering an array of specializations in the world of business, economics and banking.
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In it's simplest form, private banking is meant to help wealthy individuals and large institutions preserve and grow their wealth/assets, while investment banking is about helping large companies buy/sell companies or raise capital via equity or debt.
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Investment bankers are likely to work longer hours and draw somewhat larger paychecks. Wealth management is focused more on personal service of individuals, while investment banking clients are primarily corporations.
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['Bank of America.', 'BBVA Bank.', 'BB&T.', 'Chase Bank.', 'Citibank.', 'First Citizens Bank.', 'UBank.', 'KeyBank.']
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A commercial bank is involved with regular banking services such as cash deposits and credit advances. A merchant bank, on the other hand, offers consultancy and advisory to its clientele, most of which happen to be high net worth individuals and multinational corporations.
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The major difference between American Express and Visa is the issuer or issuers behind the brand. ... Visa the company simply acts as the processor of the payment. That's why Visa cards often bear the name of the issuer too; that company wants you to know who you're borrowing from.
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Both banks offer multiple certificates of deposit, but Bank of America has more term options and lower minimum deposits. With that said, you'll get much better interest rates with Wells Fargo, so it's the clear winner in this category.
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Lehmans actions were likely supported by the confirmation behaviour. But, on September 15, 2008, Lehman Brothers filed for bankruptcy after the U.S. Merrill Lynch instead of Lehman Brothers. Thats the way how Lehman Brothers got caught.
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Both commercial banks and S&Ls also make loans to businesses and government agencies. ... Also, a key difference between savings banks and credit unions is that credit unions are not for profit financial cooperatives, but they offer the same types of banking products found at all other financial institutions.
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The bottom line is that banks are for-profit institutions, while credit unions are non-profit. Credit unions typically brag better customer service and lower fees, but have higher interest rates. ... Some smaller banks boast comparable customer service to most credit unions, especially in smaller communities.
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Is Bank of America good for mortgages? Bank of America is a good option for a mortgage or refinance. Although it may not stand out for customer service (it scores “average” in JD Power's customer survey), it does have lower rates on average than many other big lenders.