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On June 30, 2005, Bank of America announced it would purchase credit card giant MBNA for $35 billion in cash and stock. The Federal Reserve Board gave final approval to the merger on December 15, 2005, and the merger closed on January 1, 2006. The acquisition of MBNA provided Bank of America a leading domestic and foreign credit card issuer.
In 1817, Penn trustees appointed Charles Willing Hare as the second professor of law. Hare taught for one year before becoming "afflicted with loss of reason." [20] Penn began offering a full-time program in law in 1850, under the leadership of the third professor of law at the Law Department of the University of Pennsylvania, George Sharswood. [3]
The University of Pennsylvania (Penn [note 3] or UPenn [note 4]) is a private Ivy League research university in Philadelphia, Pennsylvania, United States.It is one of nine colonial colleges and was chartered prior to the U.S. Declaration of Independence when Benjamin Franklin, the university's founder and first president, advocated for an educational institution that trained leaders in ...
Penn State Law is housed in the Lewis Katz Building on Penn State's University Park campus. The building opened for classes on January 9, 2009. The $60 million, 114,000-square foot building is the first academic facility to be built on the west side of Park Avenue on the University Park campus. The building is adjacent to the Penn State Arboretum.
The Penn effect is the economic finding that commodity prices are higher in countries with higher income. This is often interpreted to mean that real income ratios between high and low income countries are misrepresented by gross domestic product (GDP) conversion at market exchange rates .