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On August 15, 2011, MBNA announced that the Toronto-Dominion Bank ( TD Canada Trust ) would be purchasing MBNA's Canadian MasterCard portfolio.

The acquisition of MBNA Canada by TD, which was completed sometime on December 1, 2011, will see TD become a dual credit issuer ( both Visa and MasterCard ), become Canada's largest MasterCard issuer, and one of Canada's largest credit issuing banks.

When the merge is complete, current MBNA Canada Bank credit card holders can expect their accounts to remain essentially identical to what they are currently.

MBNA MasterCards will not be converted to TD Visas, and rewards programs such as MBNA WorldPoints are planned to be continued.

Though MBNA Canada Bank is not in any financial trouble, FIA Card Services ( owned by Bank of America Corporation ) is gradually scaling back its international credit operations, with eventual plans of a total removal from international credit management.