Frank Seeks Delay Of $9B Capital One, ING Deal

Law360, New York (August 18, 2011, 2:49 PM EDT) -- Rep. Barney Frank, D-Mass., asked Federal Reserve Board Chairman Ben Bernanke on Wednesday to hold public hearings and extend a public review period before Capital One Financial Corp.’s proposed $9 billion takeover of ING Direct USA gets the regulatory go-ahead.

Frank, the ranking Democrat on the House Financial Services Committee, said in a letter that the period for public comment should be extended by 60 days.

His letter marks the latest effort to slow, constrain or block the megadeal, announced June 16, in which Capital One...
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