Bank of America has received the highest overall grade given by the National Association for the Advancement of Colored People (NAACP) in its first consumer report card on the banking industry. Bank of America earned an overall grade of B and an A for philanthropic programs.

Fifteen commercial banks with revenues of least $5 billion were surveyed by the NAACP. The banks were graded on employment, community reinvestment, advertising and marketing, vendor development, and charitable giving.

"Your grade demonstrates the viable and unyielding commitment of Bank of America in effecting positive and diverse change within the banking industry," Kweisi Mfume, NAACP president and CEO, said in a letter to Bank of America Chairman Hugh L. McColl, Jr.

"We are proud to have received the highest grade and recognition by the NAACP as the leader in the financial services industry," said McColl. "We share the NAACP's goal of increasing economic opportunities for all Americans."

Founded in 1909, the National Association for the Advancement of Colored People (NAACP) is the nation's oldest and largest civil rights organization. Its half-million adult and youth members throughout the United States and the world are the premier advocates for civil rights in their communities, conducting voter registration drives and monitoring equal opportunity in the public and private sectors.

Bank of America, with total assets of $672 billion, is the largest bank in the United States. It has full-service operations in 21 states and the District of Columbia and provides financial services to 30 million households, as well as international corporate financial services for business transactions in 190 countries. The company's stock is listed on the New York, Pacific, and London stock exchanges and certain shares are listed on the Tokyo Stock Exchange.

Bank of America Corporation

Bank of America Corporation

/

More from Bank of America Corporation