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What was Bank of America originally named?
Answer – Bank of Italy – The story behind Bank of America is perhaps the ultimate example of the American Dream; it was created by the son of Italian immigrants but grew to become one of the key financial institutions in the nation. Amadeo Peter Giannini started his career selling vegetables, but after realizing how difficult it was for immigrants and the less wealthy to get banking loans and support, he established the Bank of Italy in San Francisco, California. When the 1906 earthquake devastated the area, he was able to rescue the money invested in his bank before looters could get it. He then famously provided loans “on a handshake” to help rebuild the city. Giannini expanded the bank throughout the state before changing its name to Bank of America in 1930. By the time of his death in 1949, it was the largest bank in the world. :
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