Fed Approves Capital One’s Acquisition Of ING’s Delaware Savings Bank

The Federal Reserve Board late Feb. 14 gave Capital One Financial Corp. the go-ahead to acquire ING Bank, a Wilmington, Del., federal savings bank, and other units of ING Groep N.V., a major Dutch firm.

Once consummated, the deal would make Capital One the fifth-largest depository organization in the United States by deposit size, with consolidated deposits of roughly $210 billion, and the 20th-largest depository firm on an asset basis, with total assets of $292 billion.

Capital One gained approval despite a host of questions and objections about mortgage lending and consumer credit practices at Capital One and the target ...