Word: mbna
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...same way that banks are bombarding customers with ATM and service fees, giants like Citigroup, MBNA, Bank of America and American Express are raising fees, to $20 or $30, for being late or over limit. They're also shortening and rigidly enforcing grace periods on bill payments, upping foreign-transaction fees and imposing penalty interest rates of 20% or more. Some bewildered customers are being punished for not charging enough (inactivity fees). And even if you pay your MasterCard, say, but fall behind on your Discover charge, the MasterCard issuer might raise your interest rate, because you're deemed...
...United States, every aspect of the financial services is dominated not by a bank but by a focused, non-bank with national scale. For example, MBNA is the largest issuer of credits cards. Fidelity, a mutual fund company, and Charles Schwab, a stock brokerage, dominate investment instruments. CountryWide commands the lion's share of the consumer mortgage market...
Murphy said that the Coop terminated its relationship with MBNA because the "financial returns or satisfaction were not enough to warrant a contract renewal...
Murphy also said that MBNA asked the Coop to share its information about Harvard students...
Daniel K. Hamalainen '98, who worked for MBNA bank two summers ago, said that the bank is "really intensive on phone...