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.
-
Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
March 28 -
The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
March 28 -
Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28