Bank of America Closes On Mbna Deal, Foresees Up to 6,000 Jobs Lost Nationally

Summary

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CHARLOTTE, N.C. - Bank of America completed its purchase Sunday of MBNA Corp., creating the largest credit card issuer in the U.S. as measured by balances.

With the $35 billion acquisition of MBNA, which had been the second-largest credit card lender next to Citicorp, the new Bank of America's card services division has more than 40 million active accounts and nearly $140 billion in managed balances.

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Extract

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Bank of America Closes On Mbna Deal, Foresees Up to 6,000 Jobs Lost Nationally

MBNA operates in Maine in Fort Kent, Presque Isle, Orono, Belfast, Farmington, Brunswick and Portland, employing 1,900 in its Maine headquarters in Belfast and 1,100 in m...

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