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Subsidy Tracker Parent Company Summary
Parent Company Name: Bank of America
Ownership Structure: publicly traded (ticker symbol NYSE: BAC)
Headquartered in: North Carolina
Major Industry: financial services
Specific Industry: banking
Subsidy Summary | Subsidy Value | Number of Awards |
State/Local | $343,041,381 | 186 |
Federal (grants and allocated tax credits) | $453,905,747 | 8 |
TOTAL | $796,947,128 | 194 |
Loan / Bailout Summary | Total Face Value | Number of Awards |
State/Local loans, bond financing and venture capital | $0 | 0 |
Federal loans, loan guarantees and bailout assistance (not including repayments) | $3,627,654,844,709 | 715 |
TOTAL | $3,627,654,844,709 | 715 |
Time Period for State and Local Awards: Earliest year of data: 1997. Availability of data for earlier years varies greatly from program to program. The majority of the listings for this parent company are for the period since 2010.
Time Period for Federal Awards: FY2000 to the present
Notes: Dollar totals do not include awards for which no subsidy value is disclosed.
Links: For a summary of this company's regulatory violations see its Violation Tracker summary page
here.
For an overview of this company's accountability track record, read its Corporate Rap Sheet
here.
Top 5 States for state/local awards | Total Subsidy $ | Number of Awards |
New York | $133,430,583 | 52 |
North Carolina | $79,201,418 | 15 |
New Jersey | $37,496,800 | 2 |
Illinois | $27,037,699 | 1 |
Texas | $20,000,000 | 1 |
All other | $45,874,881 | 115 |
Individual Subsidy Records:
Click on the company name for more information on each subsidy award.
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Company | Location | Subsidy Source | Year | Subsidy Value | Loan/Bailout Value | Type of Subsidy |
COUNTRYWIDE BANK FSB | United States | federal | 2007 | | $750,000,000 | federal loan or loan guarantee |
Bank of America Corporation | California | state | 2006 | undisclosed | | training reimbursement |
Resort Funding LLC | New York | state | 2006 | $934,383 | | enterprise zone |
Bank of America Corporation | New York | local | 2006 | $1,244,077 | | tax credit/rebate; property tax abatement |
Countrywide Home Loans Inc #1 | Texas | state | 2006 | undisclosed | | property tax abatement |
Countrywide Home Loans Inc #2 | Texas | state | 2006 | undisclosed | | property tax abatement |
Countrywide Home Loans Inc #3 | Texas | state | 2006 | undisclosed | | property tax abatement |
Countrywide Home Loans Inc #4 | Texas | state | 2006 | undisclosed | | property tax abatement |
Countrywide Home Loans Inc #5 | Texas | state | 2006 | undisclosed | | property tax abatement |
Countrywide Home Loans Inc #6 | Texas | state | 2006 | undisclosed | | property tax abatement |
Bank of America | Kansas | state | 2006 | $72,111 | | training reimbursement |
Countrywide Home Loans | Texas | local | 2006 | undisclosed | | tax credit/rebate |
Bank of America Corporation | Arizona | state | 2006 | undisclosed | | enterprise zone |
Bank of America Corporation | Arizona | state | 2006 | undisclosed | | enterprise zone |
Bank of America Corporation | Arizona | state | 2006 | undisclosed | | enterprise zone |
Merrill Lynch & Co., Inc. | Florida | state | 2006 | $4,000,000 | | tax credit/rebate |
Bank of America | Arizona | state | 2006 | $336,789 | | training reimbursement |
BANK OF AMERICA CORPORATION | California | state | 2005 | $2,912,832 | | training reimbursement |
Bank of America | Arizona | state | 2005 | undisclosed | | enterprise zone |
Bank of America | Arizona | state | 2005 | undisclosed | | enterprise zone |
Countrywide Home Loans, Inc. | Florida | state | 2005 | $2,760,000 | | tax credit/rebate |
Resort Funding, LLC | New York | state | 2005 | $337,672 | | enterprise zone |
Merrill Lynch & Co., Inc. | New York | local | 2004 | $1,196,797 | | tax credit/rebate; property tax abatement |
Bank of America (formerly Countrywide Financial) | Texas | state | 2004 | $20,000,000 | | grant |
Bank of America | Delaware | state | 2004 | $100,000 | | training reimbursement |
Bank of America Corporation | New York | local | 2004 | $19,674,823 | | tax credit/rebate; property tax abatement |
Countrywide Financial | Texas | local | 2004 | undisclosed | | property tax abatement |
Bank of America, N.A | New York | local | 2004 | $19,674,823 | | tax credit/rebate; property tax abatement |
Fleet National Bank | New York | state | 2004 | $1,170,000 | | enterprise zone |
Resort Funding, LLC | New York | state | 2004 | $137,050 | | enterprise zone |
Bank of America, N.A | New York | local | 2004 | $49,904,250 | | multiple |
Merrill Lynch & Co. Inc. | New York | local | 2003 | $2,433,636 | | tax credit/rebate; property tax abatement |
Framework, Inc. | New York | local | 2003 | $20,874 | | tax credit/rebate; property tax abatement |
LaSalle Street Capital, Inc. | Illinois | local | 2003 | $27,037,699 | | tax increment financing |
BankBoston NA | United States | federal | 2003 | | $44,100,000 | federal insurance |
Fleet National Bank | New York | state | 2003 | $78,000 | | enterprise zone |
Fleet National Bank | New York | state | 2003 | $369,000 | | enterprise zone |
Fleet National Bank | New York | state | 2003 | $1,000,000 | | enterprise zone |
Fleet National Bank | New York | state | 2003 | $1,200,000 | | enterprise zone |
Fleet National Bank | New York | state | 2003 | $1,320,375 | | enterprise zone |
Fleet National Bank | New York | state | 2002 | $200,000 | | enterprise zone |
Bank of America, N.A. | United States | federal | 2001 | | $190,000,000 | federal insurance |
BankBoston, N.A. | United States | federal | 2001 | | $50,000,000 | federal insurance |
Countrywide Home Loans Inc. | Texas | local | 2000 | undisclosed | | tax credit/rebate |
Merrill Lynch & Co., Inc. | New Jersey | state | 2000 | $31,096,800 | | grant |
Bank of America, N.A. | United States | federal | 2000 | | $200,000,000 | federal insurance |
BankBoston, N.A. | United States | federal | 2000 | | $47,000,000 | federal insurance |
BankBoston, N.A. | United States | federal | 2000 | | $23,300,000 | federal insurance |
Merrill Lynch & Co., Inc. | New York | local | 1997 | $12,306,686 | | tax credit/rebate; property tax abatement |
Merrill Lynch, Pierce, Fenner & Smith Incorporated | New Jersey | state | 1997 | $6,400,000 | | grant |
MERRILL LYNCH & CO., INC | New Jersey | state | | undisclosed | | tax credit/rebate; property tax abatement |
MERRILL LYNCH,PIERCE,FENNER & SMITH | New Jersey | state | | undisclosed | | tax credit/rebate; property tax abatement |
MERRILL LYNCH,PIERCE,FENNER & SMITH | New Jersey | state | | undisclosed | | tax credit/rebate; property tax abatement |