DALLAS -- NationsBank Corp. said Tuesday it completed its acquisition of a majority of the assets and businesses of U S West financial Services Inc., a unit of U S West Inc.
The company said the acquisition includes about $2 billion in net receivables.
The Federal Reserve Board on Monday said it had approved NationsBank's acquisition of sustantially all the assets of U S West Financial Services.
NationsBank said the newly acquired enterprise is now known as Nations Financial Capital Corp. and will operate as its wholly owned subsidiary. The company said the unit will retain its headquarters in Stamford, Conn., and will operate under current management.