FTC Fines Capital One CEO Richard Fairbank Over Stock Awards

The Federal Trade Commission fined Capital One Financial Corp. Chief Executive Officer Richard Fairbank for failing to properly report stock awards to federal antitrust authorities.

Fairbank received 100,000 Capital One shares as part of his pay package in 2018 and didn’t wait for authorities to investigate before finalizing the acquisition of the shares, the FTC said. While Fairbank agreed to pay a $637,950 civil penalty to settle the charges, Capital One said his personal law firm has agreed to pay the full amount of the fine because the filing error was “due to administrative errors by the firm.”

Richard Fairbank

Photographer: Marvin Joseph/The Washington Post/Getty Images

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