Bank of Some of America

Bank of America Ponders Retreat

Excerpt:

Bank of America Corp. has told U.S. regulators that it is willing to retreat from some parts of the country if its financial problems deepen, according to people familiar with the situation.

Executives at the Charlotte, N.C., financial giant put the potential move on a list of emergency scenarios submitted to the Federal Reserve last year, these people said. While people close to Bank of America insist that no retreat is imminent, even the possibility of selling branches and losing customers it spent huge sums to lure underscores the depth of its problems.

Comment: Bank of America is one of three coast-to-coast banks. The others: JP Morgan Chase and Wells Fargo. WSJ article has a nice graphic that shows history of Bank of America growth. Image: retro BankAmericaCard