Archive: Capital One

Morning Brief: Corporate Executive Board Makes Cuts

Washington area companies are not immune to the recession. The Corporate Executive Board of Arlington is planning to cut or change about a fifth of the research products and services it provides to businesses, which will mean an undetermined number of layoffs, the company's chief executive told staff in...

By Alejandro Lazo | February 4, 2009; 09:19 AM ET | Comments (1)

Morning Brief: Capital One Reports 4Q Loss

Capital One Financial ended 2008 in the red after a massive $1.42 billion loss in the fourth quarter. Its $46 million loss for the year was the first annual loss in the bank's history. The bank joined a growing chorus of banks in predicting that 2009 will be even...

By Alejandro Lazo | January 23, 2009; 08:48 AM ET | Comments (1)

Morning Brief: A Local Banking Dream Is Realized

Richard Fairbank, the chief executive of Capital One of McLean, had long desired the landmark Washington bank Chevy Chase, but he thought the privately held company was out of reach. Then, just a day after telling his business associates about what he had dreamed, Fairbank learned that a New...

By Alejandro Lazo | December 5, 2008; 08:38 AM ET | Comments (1)

Morning Brief: Capital One to Buy Chevy Chase

In a local match-up born out of the financial crisis, Capital One, the McLean credit card company, is expected to buy Chevy Chase Bank, a landmark Washington financial firm with branches throughout the region, sources familiar with the matter told the Washington Post. Capital One, which would pay $520 million...

By Alejandro Lazo | December 4, 2008; 08:28 AM ET | Comments (0)

Morning Brief: Freddie, Fannie Halt Foreclosures

Mortgage giants Fannie Mae and Freddie Mac will suspend foreclosures and evictions for the holidays. The two companies, which were seized by the government in September, said they want to keep people from losing their homes. They said they are taking the step so they can include more people...

By Alejandro Lazo | November 21, 2008; 08:06 AM ET | Comments (0)

Morning Brief: Treasury Invests In Four Local Banks

With the Treasury Department's rescue plan in full swing, more financial institutions with a Washington area presence are tapping the government funds. The Treasury said on Monday that it has made investments in four banks that operate in the Washington area. The Treasury has agreed to invest $175.3 billion...

By Alejandro Lazo | November 18, 2008; 08:12 AM ET | Comments (0)

Bad Auto, Credit Card Debts Rise At Capital One

For more evidence that consumers are struggling as the economy sours, one need not go further than McLean-based Capital One. In a monthly regulatory filing, the credit card giant and bank said on Monday that consumers had an increasingly difficult time paying off their credit card debt and auto...

By Alejandro Lazo | November 17, 2008; 12:33 PM ET | Comments (0)

Cap One Falls to New Low

Capital One's stock fell to a 4 1/2 year low on Wednesday, down 9.23 or nearly 16 percent, this a day after the company boosted its forecast for bad loans in 2008. Shares closed at $50.21. Here's the Reuters story from Tuesday: NEW YORK, Nov 6 (Reuters) - Capital...

By Dan Beyers | November 8, 2007; 08:15 AM ET | Comments (0)

Capital One Closes Wholesale Mortgage Unit

From the Associated Press: By Mike Baker Associated Press Capital One Financial Corp. said Monday it will cut 1,900 jobs and shutter its wholesale mortgage banking business, a move that comes as lenders continue to struggle through a credit crunch in the nation's housing market. Capital One said it will...

By Dan Beyers | August 20, 2007; 06:07 PM ET | Comments (0)

Capital One Chief's Stock Sales Net $31 Million

The WSJ reports (subscription required) that Capital One CEO Richard Fairbank sold "about 505,000 shares from May through Friday as the company weathered poor first-quarter results, pressure from the subprime-mortgage meltdown and job cuts." A spokeswoman said the sales were part of a stock-trading plan he entered into in February...

By Dan Beyers | July 11, 2007; 06:33 AM ET | Comments (0)

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