Bank of America Canada

From Wikipedia, the free encyclopedia

Bank of America Canada was a wholly owned US bank subsidiary, headquartered in Toronto, Canada. It was a Schedule II bank under the Bank Act to accept deposits, which may be eligible for deposit insurance provided by the Canada Deposit and Insurance Corporation.

In 2001, Bank of America Canada re-established itself as a branch of Bank of America, N.A. of Charlotte, NC. Canada's Bank Act created a new schedule, Schedule III for banks that are foreign bank branches of foreign institutions that have been authorized under the Bank Act to do banking business in Canada. These branches have certain restrictions.

[edit] Membership

Bank of America, N.A. (Canada Branch) is a member of the Canadian Bankers Association and Canadian Payments Association.

[edit] External links

• Bank of America