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COF Capital One Financial Corporation

149.56
4.95 (3.42%)
After Hours
Last Updated: 23:07:46
Delayed by 15 minutes
Share Name Share Symbol Market Type
Capital One Financial Corporation NYSE:COF NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  4.95 3.42% 149.56 149.59 144.19 144.64 3,796,876 23:07:46

Fed: Will Release Decision On Capital One Plan To Buy ING 'Soon'

13/02/2012 10:14pm

Dow Jones News


Capital One Financial (NYSE:COF)
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The Federal Reserve Board Monday considered Capital One's $9 billion plan to buy ING Direct USA and expects to release a decision shortly, according to an agency spokesperson.

Fed officials held a much-anticipated meeting this afternoon on the McLean, Va.-based bank's controversial proposal.

Consumer groups have opposed the plan, arguing that it would create a giant firm that could put the health of the U.S. financial system at risk. But industry analysts expect the Fed to approve the proposal.

"The board considered the application at its meeting this afternoon and expects to issue a decision soon," said the spokesperson in a statement. "No further announcement is expected today."

A decision was initially expected last week, but the meeting was postponed until today.

   -By Maya Jackson Randall, Dow Jones Newswires; 202-862-6687, maya.jackson-randall@dowjones.com 
 

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