BankRankedCharles Schwab Bank, SSB vs Bank of America
Side-by-side comparison using real FDIC financial data and CFPB complaint records.
| Metric | Charles Schwab Bank, SSB | Bank of America |
|---|---|---|
| Headquarters | Westlake, TX | Charlotte, NC |
| Total Assets | $253.77B | $2.64T |
| Total Deposits | $230.50B | $2.10T |
| Net Income | $2.40B | $30.38B |
| Return on Assets (ROA) | 0.94% | 1.15% |
| Return on Equity (ROE) | 11.76% | 12.24% |
| Branches | 1 | 3,610 |
| CFPB Complaints | N/A | 174,897 |
| Timely Response Rate | N/A | 97.5% |
Source: FDIC BankFind (financial data), CFPB Consumer Complaint Database (complaint data). Data last updated: April 2, 2026.
At a glance
Total Assets
Total Deposits
Net Income
Branches
Return on Assets (ROA)
Which bank is right for you?
Bank of America is the larger institution by total assets at $2.64T, compared to Charles Schwab Bank, SSB at $253.77B (Source: FDIC BankFind). Bank of America operates 3,610 branches compared to Charles Schwab Bank, SSB's 1, which may matter for customers who prefer in-person banking. (Source: FDIC BankFind)
In terms of profitability, Bank of America reports a higher ROA of 1.15% compared to Charles Schwab Bank, SSB at 0.94%, where the national average is approximately 1.21% (Source: FDIC BankFind). Bank of America also leads in ROE at 12.24% versus 11.76%. However, higher profitability metrics do not guarantee a better consumer experience. These figures reflect institutional performance, not the rates or fees offered to individual customers.
CFPB complaint data is available for Bank of America but not Charles Schwab Bank, SSB. A direct complaint comparison is not possible without data for both institutions.
Consumers who prioritize a large branch network and broad geographic reach may find Bank of America more convenient. Those who focus on financial strength metrics may want to review the ROA and ROE figures above. Ultimately, the right choice depends on individual needs including account fees, interest rates, digital banking features, and customer service, which are not captured in this data. Consult each bank's website for current rates, terms, and product details.
Key differences
Branch Access
Bank of America operates 3,610 branches compared to Charles Schwab Bank, SSB's 1 (3610 branches). For customers who rely on in-person banking, this difference may be significant. However, digital banking tools can reduce the importance of branch proximity.
Source: FDIC BankFind
Bank Size
Bank of America holds $2.64T in total assets compared to Charles Schwab Bank, SSB at $253.77B. Larger banks typically offer a wider range of products and services, while smaller institutions may provide more personalized attention. Size alone does not determine which bank is a better fit.
Source: FDIC BankFind
Profitability (ROA)
Bank of America reports an ROA of 1.15% compared to Charles Schwab Bank, SSB at 0.94%. ROA measures how effectively a bank uses its assets to generate profit. A higher ROA may indicate operational efficiency, but it does not directly translate to better rates or lower fees for consumers.
Source: FDIC BankFind
What the data does not tell you
This comparison uses publicly available data from the FDIC and CFPB. While these sources provide a factual foundation, they do not cover several factors that are important to the banking experience.
FDIC data does not include specific interest rates offered on savings accounts, CDs, or checking accounts. It also does not capture account fees, minimum balance requirements, or promotional offers. CFPB complaint data reflects consumer-submitted complaints and does not measure overall customer satisfaction, digital banking quality, or customer service responsiveness.
For a complete picture, visit each bank's website directly. Charles Schwab Bank, SSB's and Bank of America's current rates, fee schedules, and product details are available on their respective websites. The CFPB also offers tools and guides for comparing banks at consumerfinance.gov.
Consult a licensed financial professional before making significant banking decisions.
Data Sources
FDIC BankFind: Financial data including total assets, deposits, net income, ROA, and ROE for all FDIC-insured institutions. https://banks.data.fdic.gov/
CFPB Consumer Complaint Database: Consumer complaint data by institution, including complaint volumes, response rates, and top issue categories. https://www.consumerfinance.gov/data-research/consumer-complaints/
Federal Reserve Economic Data (FRED): Interest rate benchmarks including the Federal Funds Rate, Treasury yields, and national savings rate averages. https://fred.stlouisfed.org/
BankRanked is not a bank, credit union, or financial advisor. This content is for educational purposes only and does not constitute financial advice. All data is sourced from publicly available government databases (FDIC, NCUA, CFPB, FRED). Consult a licensed financial professional before making banking decisions.