Since its Depression-era roots in San Francisco, Bank of America has overcome significant challenges, evolving into the second-largest financial institution in the US by asset size.
After a peak of $50 per share in 2022, Bank of America has faced several headwinds, including major sell-offs by significant investors like Warren Buffett and insider sales.
The implementation of Basel III regulations requiring higher capital retention has placed pressure on Bank of America's strategy moving forward, as compliance is due by October 2024.
High interest rates and inflation since 2021 have created obstacles for lending, driving customers away and impacting Bank of America's core business lines.
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