McLEAN, Va. - (03/08/05) -- Capital One Corp., the nation'ssecond largest credit card bank, said it will expand its presencein financial services with the acquisition of New Orleans-baseHibernia Corp., for $5.35 billion. The deal for Hibernia, which has$21 billion in assets, gives Capital One a new source of low-costfunding and a network of 300 branches in Louisiana and Texas tohelp expand the company's credit card and other businesses. CapitalOne, which was originally spun off from Signet Bank, has almost $80billion in managed loans and is the second largest credit cardbank, behind MBNA, which claims $110 billion in assets.
-
As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3