ally credit card acquisition

The acquisition of MBNA provided Bank of America a leading domestic and foreign credit card issuer. The Federal Reserve Board gave final approval to the merger on December 15 2005 and the merger closed on January 1 2006.


Why Ally Bank Is Paying 2 6 Billion To Buy A Bank You Ve Never Heard Of

On June 30 2005 Bank of America announced it would purchase credit card giant MBNA for 35 billion in cash and stock.

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