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Fed Approves Capital One's Acquisition Of ING Direct

Tuesday, February 14, 2012 - 7:09 PMING DIRECT - Details
The Fed just approved Capital One's acquisition of ING Direct.

From the Fed's Feb 14th press release:
The Federal Reserve Board on Tuesday announced its approval of the notice by Capital One Financial Corporation, McLean, Virginia ("Capital One"), to acquire ING Bank, fsb, Wilmington, Delaware, and thereby indirectly acquire shares of ShareBuilder Advisors, LLC and ING Direct Investing, Inc., both of Seattle, Washington.

I was told the following by a Capital One corporate communications rep:
We expect to close within the next few days as soon as the details associated with the transaction are finalized. Capital One has no current plans to change ING customer accounts. Customers will still enjoy the competitive rates, no fees and the same online experience they've come to know and love from ING Direct.



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Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
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