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- Title
Legal Developments.
- Abstract
This article reports on several legal developments related to the financial services industry in the U.S. Capital One Financial Corp. has requested the Federal Reserve Board's approval under section 3 of the Bank Holding Company (BHC) Act to become a bank holding company after amending the charter of its subsidiary, Capital One Bank. Section 3 of the BHC Act prohibits the Board from approving a proposal that would result in a monopoly. Section 3 of the BHC Act requires the Board to consider the financial and managerial resources and future prospects of the companies and banks involved in the proposal and certain other supervisory factors.
- Subjects
UNITED States; BANKING industry; CAPITAL One Financial Corp.; HOLDING companies; CORPORATION law; FINANCIAL services industry
- Publication
Federal Reserve Bulletin, 2004, Vol 90, Issue 4, p479
- ISSN
0014-9209
- Publication type
Article