A major MBNA Corp. investor is urging fellow shareholders to vote for its resolution that two-thirds of the issuer's directors be independent of the Wilmington, DE-based issuer. The Teachers Insurance and Annuity Association-College Retirement Equities Fund, known as TIAA-CREF, submitted the resolution to be voted on at MBNA's May 3 shareholder meeting. TIAA-CREF has assets of $307 billion and holds 17.9 million MBNA shares. TIAA-CREF filed a letter with the Securities and Exchange Commission yesterday that will be sent to shareholders April 12. The letter contends that a majority of the current MBNA board have personal or business ties to the issuer and that the board has …
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