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WalletPop Blog (Free subscription) | 23/11/2009
Filed under: Credit , Debt , Credit cards JP Morgan Chase became the first bank to drop its arbitration clause from its credit card contracts, so Chase credit card holders will have the right to go to court to dispute a problem with its credit card decisions. This decision was part of a settlement of an antitrust lawsuit filed by Minnesota Attorney General Lori Swanson that involved the largest arbitration...
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Business Wire (Free subscription) | 23/11/2009
MCLEAN, Va.--(BUSINESS WIRE)--The holiday shopping, entertaining and travel season is nearly upon us, and for many couples, holiday expenses can trigger financial anxieties. According to a new survey from Capital One Financial Corporation (NYSE:COF) examining the financial habits of couples, most (55%) of those surveyed have not yet discussed a budget with their partner or spouse for holiday shopping...
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Reason Magazine - Hit & Run (Free subscription) | 20/11/2009
• The European Union gets a president . • The Treasury will auction off its investments in JPMorgan Chase, Capital One Financial, and TCF Financial. • A fancy horsey academy becomes a secret CIA torture lair . • Philadelphia politicians push a requirement to register all bicycles owned by anyone over 12. • How taxi regulation works in Washington . • Role reversal: A Beijing...
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People Daily (Free subscription) | 20/11/2009
The U.S. Department of the Treasury announced its intention on Thursday to dispose of several warrant positions received in consideration for investments made under the Capital Purchase Program (CPP). Over the next month, Treasury intends to conduct auctions to sell its warrant positions in JP Morgan Chase & Co., Capital One Financial Corporation, and TCF Financial Corporation, said the department...
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BloggingStocks (Free subscription) | 19/11/2009
Filed under: Stocks to Sell As expected, Capital One Financial Corp.'s ( COF ) stock has seen increased interest in the past six months, on the argument that charge-offs will peak in mid-2010. First recommended on May 7, 2009 at a price of $29.41, if you bought COF in May, you're up about 37%. However, technically the stock will face substantial two-year resistance at $43-45, more resistance above...
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The San Francisco Business Times (Free subscription) | 17/11/2009
San Francisco-based person-to-person lender Prosper said Nigel Morris, a co-founder of credit card giant Capital One Financial, has joined its board. Morris’ venture firm, QED Investors, invested $1 million in Prosper, the first investment in the company since the credit crisis hit. (COF) (MA) (V)
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Reuters (Free subscription) | 16/11/2009
NEW YORK (Reuters) - Capital One Financial Corp and Discover Financial Services reported credit card defaults fell in October, but delinquencies rose in a sign that consumers remain under stress and the sector can expect more pain ahead.
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Market Watch (Free subscription) | 16/11/2009
BOSTON (MarketWatch) -- Capital One Financial Corp. Monday said the annualized net charge-off rate at its U.S. credit card business fell to 9.04% in October from 9.77% in the previous month. However, accounts that are at least 30 days delinquent rose to 5.72% from 5.38%, the company said in a regulatory filing. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move....
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DealBreaker (Free subscription) | 13/11/2009
Jamie Dimon: Banks Should Be Allowed To Expand--And Fail (WaPo) "Ending the era of "too big to fail" does not mean that we must somehow cap the size of financial-services firms. Scale can create value for shareholders; for consumers, who are beneficiaries of better products, delivered more quickly and at less cost; for the businesses that are our customers; and for the economy as a...
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Business Wire (Free subscription) | 09/11/2009
NEW YORK--(BUSINESS WIRE)--Fitch Ratings expects to assign a 'BBB' rating to Capital One Financial Corporation's (COF) $1 billion issuance of 30-year, trust preferred securities issued out of Capital One Capital VI. The underlying junior subordinated securities are cumulative, contain a five-year optional deferral provision, and rank senior to hybrid debt instruments issued from Capital One Capital...
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Business Wire (Free subscription) | 29/10/2009
CINCINNATI--(BUSINESS WIRE)--The stock market has made some serious headway since its March 9 bottom, with the S&P 500 Index up more than 50% from its first-quarter nadir. Since that time, Capital One Financial Corp. (NYSE: COF) has emerged as the leader of the rebound, with the credit card concern soaring 354% from March 9 through Tuesday's close. Amid the recent pullback in the broader market,...
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integrityfx | 11/06/2009
Back in October 2008, then US Treasury Secretary Henry Paulson met with CEOs of the 9 largest US banks. During that meeting, it was reported that Paulson required the CEOs to take TARP money whether they wanted the money or not. In May, Judicial Watch released talking points taken from official documents from those meetings. The talking points used by Paulson in that meeting include the comment that
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