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MBNA was founded in 1982 as Maryland Bank, N.A. [3] [4] [5] Led by Charles Cawley, MBNA opened its first office in a converted A&P (Great Atlantic & Pacific Tea Company) food supermarket in Ogletown, Delaware. [6] An early driver of MBNA's growth was the creation of "affinity cards" in 1983. Cawley convinced the alumni association at his alma ...
Mastercard Inc. (stylized as MasterCard from 1979 to 2016, mastercard from 2016 to 2019) is an American multinational payment card services corporation headquartered in Purchase, New York. [3] It offers a range of payment transaction processing and other related-payment services (such as travel-related payments and bookings).
The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. PNC Bank is on the list of largest banks in the United States by assets and is ...
Al Lerner. Alfred Lerner (May 8, 1933 – October 23, 2002) was an American businessman. He was best known as the chair of the board of credit-card giant MBNA and the owner of the Cleveland Browns of the National Football League (NFL). He was also a past president of the Board of Trustees of the famed Cleveland Clinic as well as a major benefactor.
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On June 30, 2005, Bank of America announced it would purchase credit card giant MBNA for $35 billion in cash and stock. The Federal Reserve Board gave final approval to the merger on December 15, 2005, and the merger closed on January 1, 2006. The acquisition of MBNA provided Bank of America a leading domestic and foreign credit card issuer.
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Michigan National Bank was a bank founded in Lansing, Michigan, which was established on 31 December 1940 when Howard J Stoddard consolidated six Michigan banks: First National Bank and Trust Company of Grand Rapids, First National Trust and Savings Bank of Port Huron, Lansing National Bank, City National Bank of Battle Creek, National Bank of ...