Bank of America to purchase MBNA

[K Hultgre]

Just read that BA it to purchase MBNA making it one of the worlds largest card issuers. In the statement BA said they will be laying off 3% (6,000) of MBNA staff. BA is currently capped at 10% US deposits (per US Gov.) so they could not purchase any more banks and it appears opted to get further into the CC industry. Not sure what side of the fence to stand on but it sure made my skin go cold when I read about it.

 

[JRJ]

Re: Bank of America to purchase MBNA

Guess you aren't the only one "going cold". BAC is down almost $2 since this came out.

 

[Homerr]

Re: Bank of America to purchase MBNA

Good thing I already dumped MBNA for raising my interest rate for no reason.<br /><br />I don't care for Bank of America either.<br /><br />H.

 

[eeboater]

Re: Bank of America to purchase MBNA

Ugh... Bank of America's getting bigger. The company I work for is called America's Mortgage Banc. Do you realize how many phone calls we get from people?! It seems to happen a lot more with people of Asian descent who have dificulty with English. It must be something with the conversion from English to (insert Asian language here).<br /><br />Sean

 

[beezee28]

Re: Bank of America to purchase MBNA

survival of the fittest! Big fish swallowing up the little fish... That is how BAC can post those hugh amount in profit and pay less in tax.