Deals
Moynihan Unravels Another Lewis Deal as BofA Sells Card Unit
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Bank of America Corp. Chief Executive Officer Brian T. Moynihan is unraveling yet another acquisition made by his predecessor Kenneth D. Lewis as the firm exits credit-card lending outside the U.S.
Moynihan agreed to sell the Canadian card unit, with $8.6 billion in loan balances, to Toronto-Dominion Bank and plans to leave the U.K. and Irish card markets, Charlotte, North Carolina-based Bank of America said today in a statement.