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Since first opened the doors for business in Canada in November 1997, MBNA Canada Bank, (“MBNA”), an affiliate of Bank of America Corporation, has become the largest MasterCard issuer in Canada and the country’s fourth largest credit card issuing bank. What sets it apart from other companies is the commitment to finding the right customers and keeping them.

MBNA is the leading provider of co-branded and affinity credit card programs in Canada. Its credit card and services are endorsed by nearly 900 Canadian membership organizations, credit union and financial institutions, sports associations, educational institutions and charities. As part of the Bank of America family of companies, the Bank are proud to be the recognized leader of affinity marketing in the credit card industry, with the endorsement of more than 5,000 organizations and financial institutions worldwide. MBNA provides financial products and services throughout Canada from its head office in Ottawa and offices in Regina and Winnipeg.

Due to its affinity relationships with popular sports teams, colleges and various associations, MBNA Canada has successfully provided rewards cards to individual consumers, students and business owners. The Bank serves clients in more than 150 countries and has relationships with 99% of the U.S.

MBNA Canada Bank is Schedule II banks in Canada. The Schedule II banks are foreign bank subsidiaries authorized under the Bank Act to accept deposits, which may be eligible for deposit insurance provided by the Canada Deposit and Insurance Corporation. Foreign bank subsidiaries are controlled by eligible foreign institutions.

In Canada, the Office of the Superintendent of Financial Institutions (OSFI) is responsible for administering a number of federal statutes, including the Bank Act and the Trust and Loan Companies Act, the statutes applicable to the regulation of banks and federal trust and loan companies.