Richmond ends credit card deal with Bank of AmericaBy Michelle Guerrere | April 21, 2011
Bank of America paid the University of Richmond $89,773 in 2009 as part of a controversial credit card program under which the university sold the bank student, faculty, staff and alumni contact information. The program, which was initially started between Maryland Bank, National Association and the university, was continued by Bank of America when it bought MBNA in 2006. The so-called affinity agreement, which ended June 30, 2010, allowed students, alumni, faculty, staff and friends of the university to have credit cards that sported a University of Richmond logo, said Louie Love, the director of treasury services at Richmond. Part of the agreement called for the university to give its database of contacts to Bank of America for solicitation. The database included names of students, faculty, staff and alumni and their addresses and telephone numbers.