Bank of America is weighing its options regarding the U.K. and Ireland businesses it is exiting, said Jerry Dubrowski, a company spokesman, declining to comment on what those options are.
Bank of America’s portfolios in the U.K. and Ireland have a combined $19 billion in credit-card loans and more than 4,000 employees, the company said in the statement.
Now giving how MBNA are pushing their interest free option right now (letters, phone calls, online, e-mail) this is interesting and contradicting.
Yeah finding a buyer will be difficult. Especially one willing to keep 1000 jobs in Leitrim. Big blow for Ireland.
A big jobs blow but it's great that they are no longer going to be running a credit card business. They had dreadful policies towards their customers and so, on balance, this is good news for Irish and British consumers as a whole.
Someone else will offer credit cards to their customers. So the 1000 jobs will be filled by other people in other companies.
Brendan
If someone racks up a credit card debt without the ability to pay it back and then complains that s/he is aggressively pursued than I feel not even remotely sorry about that.
Yeah finding a buyer will be difficult. Especially one willing to keep 1000 jobs in Leitrim.
Yeah finding a buyer will be difficult. Especially one willing to keep 1000 jobs in Leitrim. Big blow for Ireland.
Would be interested what you base this assumption on. As far as I can tell from the press releases, they are selling the business because it doesn't fit their strategic portfolio and not because they are not making any money.
Believe or not, but there are still companies out there who make investments and try to earn money.
In contradiction to the "general believe", Ireland is still a country where you can earn money when you run a business. (Especially if you kept your business ouf of the property madness).
My hubby was offered 0% on balance transfers only last week and we were going to go with that and do the transfer to our joint account... I was then going to use the money to repay my balance and repay his at 0%.... We never got around to ringing them over the weekend. Wonder is there any point now???
Do MBNA do customer service for the UK here as well? That might be their saving grace. Their best hope would be a buyer willing to take the UK and Irish businesses together.
I presume that the Irish operation which employs 1,000 people service a worldwide clientele?
Oddly enough, a lot of the 5 times a day calls come from India or people with Indian accents.
OK, maybe I didn't explain properly. I am sure they were fine when you paid on time which many people did.
But if you got into arrears, they rang up to 6 times a day. Repeat - 6 times a day. I have met the victims and it was terrible.
Well I do actually. That is why we have a code on mortgage arrears and a section in the consumer code on personal debt. Some people lost their jobs or their businesses since they took on the credit card debt. Some people had their credit limits raised without their appying for it.
People in arrears really suffered at the hands of MBNA and I am glad to see the back of them.
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