22 Jun

NYTimes.com – Capital One’s Response to Outrage Over ING Direct Purchase

We here at Bucks wondered if this outpouring of emotion gave the folks at Capital One pause, so we asked them some questions that seem to be on customers’ minds. The bank declined to provide “yes or no” answers to queries about specific changes, saying it was too soon to do so. But the spokeswoman Tatiana Stead did offer the following responses via e-mail.

To us, it looks like they’re at least leaving open the option of adding fees and minimum balances and subsuming the ING Direct brand altogether. Do you feel reassured by the responses below?

via NYTimes.com – Capital One’s Response to Outrage Over ING Direct Purchase. Not much here to read, but it interests me. Capital One dances around answering any real questions beyond acknowledging that ING Direct generates strong feelings from customers.

16 Jun

BBC News – Capital One to buy ING online bank

Capital One says it plans to buy the US internet banking arm of ING in a move that will make it the seventh largest US bank by assets.

Capital One, best known for its credit cards, will pay $9bn (£5.5bn) in cash and shares – $6.2bn of that in cash.

The deal will also leave the Dutch banking and insurance giant with a 9.9% stake in Capital.

The move is the latest step in Capital One’s plan to branch out from its credit card lending roots.

It will raise $2bn in new capital and $3.7bn in new debt in order to finance the transaction.

via BBC News – Capital One to buy ING online bank. I’m a huge fan of ING Direct, been using them for years so I hope this doesn’t hurt them in any way.