The Bank of Italy in San Francisco founded a company that has existed for over a hundred years serving many people, this bank , and it caters to immigrants, but it eventually merged with Bank of America. It is one of the world's largest financial companies, serving individual consumers and businesses of all times. It offers a full range of banking, investment and risk management services. Bank of America serves customers in more than 40 countries. Bank of America is a company focused on creating real, meaningful connections with individuals, businesses and communities to help them connect with what matters most. Bank of America is a proud partner to more than 50 million customers. This company aims to provide individuals, businesses and institutional investors with the financial products and services they need to help them achieve their goals at every stage of their financial lives. With a strong commitment to striving to be the best financial services company in the world, they are committed to their communities and regions. Connecting with people is what matters most through loans and investments. Bank of America tries to be a fair business by committing to building connections to improve communities. Bank of America likes to focus on efforts to address needs related to housing, hunger and jobs. She particularly prefers to focus on helping low-income communities. Their employees dedicate approximately 1.5 million hours, giving their valuable time to help all communities. They have helped our service members in the military by helping veterans find jobs, housing and education. the mission is clear... middle of paper ...... indirect impact on cost of capital which includes refinancing, FDIC insurance fees payable by banks, profitability and powering businesses in the long term . The bank faces threat of default in residential loans and credit cards. Bank of America has a sizable mortgage and credit card business relative to its peers. Additional foreclosures, mortgage rehabilitation costs and regulatory costs are all future threats. Bank of America continues to face pressures from a lower than historical normal tangible capital ratio. The bank's main concern is whether it will be able to raise capital quickly enough to meet regulators' upcoming requirements. Bank of America also faces the threat of competition from other banks, including BNP Paribas, Citigroup, China Construction Bank Corporation, National Australia Bank and Royal Bank of Scotland..