• Bank Mergers & Acquisitions: Federal Reserve Board’s Approval of Capital One's Acquisition of ING Direct Discusses Financial Stability Factor
  • February 16, 2012
  • Law Firm: Sullivan Cromwell LLP - New York Office
  • Late yesterday, the Federal Reserve Board ("FRB") issued an Order (the "Capital One Order") approving the acquisition of ING Bank, fsb ("ING FSB") by Capital One Financial Corporation ("Capital One"). ING FSB is a leading internet-based depository institution and operates under the name "ING Direct". This decision followed a highly unusual series of public hearings and an unusually long processing period.