Bank of America Introduces Clarity Commitment(TM) for Home Equity Products

Simple One-Page Summary of Key Loan Terms Allows Borrowers to Review Their
Loan Details in Plain Language

CALABASAS, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Bank of America announced
today that its popular Clarity Commitment(TM) home loan summary - a
consumer-friendly document hailed as a lending industry model - is now
available for home equity lines of credit and home equity loans.

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The Clarity Commitment is a tangible demonstration of the Bank of America Home
Loans brand promise to lend responsibly and help customers become successful
homeowners. A simple one-page summary of key loan terms, this document lets
borrowers review their loan details in plain language so they are confident
they have chosen a loan that is right for them.

"We are pleased to introduce the Clarity Commitment to our home equity
customers," said Henry Fulton, Home Equity and Reverse Mortgage executive for
Bank of America Home Loans. "We take our commitment to responsible lending
very seriously. The Home Equity Clarity Commitment helps us provide our
customers with the simplicity and transparency they desire and deserve."

The bank introduced the Clarity Commitment last April for refinance and
purchase first mortgage loans. It has since been expanded to a portion of
modified first mortgage loans; closed-end, fixed-rate, full-draw reverse
mortgages; and now for home equity loans and lines of credit as of Oct. 25.
Since its inception last spring, more than 730,000 first mortgage Bank of
America customers have received Clarity Commitments with their loan documents.

The Home Equity Clarity Commitment is provided on all standalone home equity
lines of credit and home equity loans with terms greater than 36 months. It is
available in all Bank of America sales channels and is provided to the
customer at the point of sale; as a re-disclosure in the event of a loan
product change; and with closing packages. (Note: Applications originated
through bankofamerica.com will receive the Clarity Commitment in the closing
package only.)

When first introduced to the public in April, Bank of America's Clarity
Commitment was held up as a model for the lending industry by industry
associations and national media. Similar Clarity Commitments for card and
deposits products are scheduled to be released in December 2009 and the first
half of 2010, respectively.

Bank of America
Bank of America is one of the world's largest financial institutions, serving
individual consumers, small- and middle-market businesses and large
corporations with a full range of banking, investing, asset management and
other financial and risk management products and services. The company
provides unmatched convenience in the United States, serving approximately 53
million consumer and small business relationships with 6,000 retail banking
offices, more than 18,000 ATMs and award-winning online banking with more than
29 million active users. Bank of America is among the world's leading wealth
management companies and is a global leader in corporate and investment
banking and trading across a broad range of asset classes serving
corporations, governments, institutions and individuals around the world. Bank
of America offers industry-leading support to more than 4 million small
business owners through a suite of innovative, easy-to-use online products and
services. The company serves clients in more than 150 countries. Bank of
America Corporation stock (NYSE: BAC) is a component of the Dow Jones
Industrial Average and is listed on the New York Stock Exchange.
www.bankofamerica.com

SOURCE Bank of America

Jumana Bauwens, +1-800-796-8848, Jumana.bauwens@bankofamerica.com, or Rick
Simon, +1-800-796-8448, rick.simon@bankofamerica.com, both of Bank of America;
or First Call Contact: Kevin Stitt of Bank of America, +1-704-386-5667