Bank of America to buy MBNA Corp.
AOPA members to get access to wider variety of financial products
Bank of America said on Thursday that it had agreed to buy MBNA Corp., which provides a wide variety of financial products to AOPA members, including the AOPA credit cards featuring a 5-percent FBO rebate and 5-percent Sporty's discount.
"The acquisition of MBNA by Bank of America will provide AOPA members access to the nationwide convenience and resources of two leading financial institutions," said Karen Gebhart, AOPA senior vice president of products and services. "AOPA members will have unmatched access to a vast array of the finest financial and investment products available, offered through the country's largest consumer bank. The bank is committed to the AOPA program. Members will still enjoy all the benefits of the AOPA financial products and services, plus access in the future to new benefits from Bank of America. This is an exciting time, and there is much to look forward to."
Bank of America said the purchase would make it the world's largest issuer of Visa and MasterCard credit, debit, and prepaid cards. The boards of directors of both banks have approved the acquisition. The deal must now be approved by regulators. The acquisition is expected to be completed sometime in the fourth quarter of this year.
June 30, 2005
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