Fed Meeting On Capital One-ING Rescheduled For Monday

The Federal Reserve is delaying a planned meeting on Capital One Financial Corp.'s (COF) controversial bid to buy ING Direct USA, rescheduling it to Monday.

The Fed released a notice Wednesday afternoon noting that the closed meeting of the Fed Board of Governors has been rescheduled to 2:30 p.m. on Feb. 13. The Fed notice didn't give a reason for the change.

"The Board has informed us that the planned meeting for this afternoon has been rescheduled for Monday, February 13th," Capital One said in a statement. "We understand that the delay is due to a scheduling conflict, and we look forward to their decision early next week."

Capital One's $9 billion plan to buy ING Groep NV's (ING, INGA.AE) U.S. online-banking business has met strong criticism from consumer groups. The National Community Reinvestment Coalition argues that the acquisition would make Capital One so risky and complex that it would put the U.S. financial system in danger.

Capital One, one of the nation's largest credit-card issuers, announced the proposal in June and has defended its plan as one that would provide greater banking options for ING customers and create jobs.

-By Maya Jackson Randall, Dow Jones Newswires; 202-862-6687, [e-mail]

--Jeff Bater contributed to this article.