When speaking about lenders, Bank of America Corp (NYSE:BAC) is probably the first one that comes to mind. Bank of America Corp (NYSE:BAC) is the second largest bank holding company in the U.S., and is one of the largest companies in the country in terms of total revenue. However, when it comes to the banking and financial sector, there is a difference between common commercial banks and money center banks. We'll focus on the latter.
Money center banks are very similar to common banks when it comes to structure, but the main difference between them is that money center banks, which are usually located in major economic centers (like Hong-Kong, London, New York), do not borrow from or lend to consumers; their activities are conducted with governments, large corporations or regular banks. See Insider Monkey's site for more details about Bank of America.
