This is, frankly, an amazingly good piece of plastic: A little history lesson. MBNA was one of the companies mentioned on a 2004 Frontline WGBH Boston PBS special about unfair business practices by credit card companies. In Canada and Europe, the MBNA name was retained. If youre planning on making a big purchase but want to spread the cost, MBNA offer a card that will charge 0% interest on purchases for a set introductory period. This is not a commitment to lend. [12] The deal was completed on June 1, 2017[13] and since that time, in the United Kingdom, MBNA is a trading style of Lloyds Bank plc and is regulated in the United Kingdom by the FCA. The acquisition of MBNA Canada by TD, which was completed on December 1, 2011, saw TD become a dual credit issuer (both Visa and MasterCard), become Canada's largest MasterCard issuer, and one of Canada's largest credit issuing banks. All current MBNA credit cards issued by MBNA Limited. Learn about the codes of conduct we follow when performing our credit card activities. In 2007, the Canadian division was named one of Canada's Top 100 Employers.[10]. In January 2013, Virgin agreed to buy 1 billion of assets from MBNA; these are the Virgin Credit Card assets which MBNA has serviced and managed in partnership with Virgin Money since 2002. MBNA Corporation was a bank holding company and parent company of wholly owned subsidiary MBNA America Bank, N.A., headquartered in Wilmington, Delaware, prior to being acquired by Bank of America in 2006.[1][2]. With the introduction of the cap on interchange fees, MBNA decided to withdraw from the affinity market and put itself up for sale, eventually being purchased by Lloyds Bank. On June 30, 2005, MBNA announced that it was being acquired by Bank of America for stock and cash totaling more than $35 billion, and the deal was closed on January 1, 2006. The Corporate Responsibility Report and Public Accountability Statement is designed to inform our stakeholders about our environmental, social and economic performance. L loyds has bought credit card provider MBNA for 1.9bn. MBNA is a leading provider of co-branded and affinity credit card programs in Canada. MBNA Europe headquarters is in Chester, England. Businessman Al Lerner, a major investor and chairman of Maryland National since 1989, was the new MBNA's largest stockholder and chairman. The MBNA brand will remain distinct from other Lloyds Banking Group brands, including Lloyds, Bank of Scotland and Halifax. To qualify for this offer, an applicant must be approved for the specific credit card account described in the offer. A new rewards scheme will allow consumers with credit cards from MBNA to earn up to 15% cashback on their spending at a personalised list of retailers.. MBNAs Smart Rewards scheme has been developed with Cardlytics, which has pioneered the use of purchase intelligence, using customers online and in-store purchases to target them with tailored advertising. Five years later, the Bank of America that exists today was the result of the merger between the San Francisco-based Bank of America and the Charlotte-based NationsBank. On June 10, 2006, MBNA changed its name to FIA Card Services, National Association (FIA), which is not an acronym. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. Maryland National was acquired by NationsBank in 1993. The dominating 25-year run for MBNA ended in 2006, when it was acquired by Bank of America in a $36 billion deal. 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