Bank of America,Expansion in California

Branch banking was introduced by Giannini quickly after 1909 legislation in California that allowed for branch banking in the state. Its first part outside Bay area was established in 1909 in San Jose. By 1929, the loan company had 453 banking office buildings in California with one and indivisible resources of over US$1. 4 billion. There is an imitation of the 1909 Standard bank of Italy branch lender of all time Playground in San Jose, and the 1925 Bank of Italy Building is a crucial downtown landmark. Giannini sought to build a national bank, expanding into almost all of the western claims as well as into the insurance industry, under the aegis of his holding company, Transamerica Firm. In 1953, regulators became popular in forcing the parting of Transamerica Corporation and Bank of America under the Clayton Antitrust Work. The passageway of the Bank Positioning Company Act of 1956 prohibited banks from buying non-banking subsidiaries such as insurance companies. Bank of America and Transamerica were separated, with the last mentioned company continuing in the insurance business. Nevertheless , federal government banking regulators prohibited Traditional bank of America's interstate savings activity, and Bank of America's domestic banks outside the house California were forced into a separate company that became First Interstate Bancorp, later acquired by Water wells Fargo and Company in 1996. It was not until the 1980s with a change in national banking legislation and control that Bank of America was again able to expand its domestic consumer banking activity outside



New technologies also allowed charge cards to be associated right to individual bank medical data. In 1958, the loan provider introduced the BankAmericard, which changed its name to Visa in 1977. A consortium of other A bunch of states banks introduced Master Demand (now MasterCard) to contend with BankAmericard.