BankAmerica Corporation Seeks OCC Approval for Nonbanking Activities

Summary

BankAmerica Corporation, a San Francisco-based bank, has submitted an application to the Office of the Comptroller of the Currency (OCC) to engage in nonbanking activities, including investment and insurance services, as part of its proposal to expand its financial services offerings. The application, filed with the OCC, is part of the bank's recent efforts to diversify its business model and increase its presence in the financial services market.