[kochbeck]

Well… I read it. And I’ve gotta say, that sounds like a blatant violation of Regulation Y, the requirement that bank holding companies engage only in, “The business of banking.” There are lots and lots of activities that fall under that umbrella, but enterprise B2B software sales isn’t one of them.

CapOne may be too big to fail, but it’s not too big to receive a C

[O__________O]

>> “ Regulation Y also describes transactions for which bank holding companies must seek and receive the Federal Reserve’s approval.”

My reading of Reg Y is if Capital One got approval from the Fed, it’s fine for them as a bank holding company to engage in a nonbanking activity. Am I missing something?

___________

Source:

https://www.frbsf.org/banking/regulation/regulations-policie...

[orangepurple]

Which Capital One is breaking Regulation Y?

Capital One Bank (USA) N.A. — Currently offers a wide variety of credit card products, other lending products, and deposit products.

Capital One, N.A. — Offers a broad spectrum of banking products and financial services to consumers, small businesses, and commercial clients, including traditional banking products through an extensive branch network in Connecticut, the District of Columbia, Louisiana, Maryland, New Jersey, New York, Texas, and Virginia.

Capital One Auto Finance, Inc. — Offers automobile financing products.

Capital One, N.A., Member FDIC

Capital One, National Association

Capital One Bank

Capital One Bank, N.A.

Capital One Bank, National Association

Capital One Bank (USA)

Capital One Financial Corporation

Capital One Home Loans LLC

Capital One Services, LLC

Capital One Settlement Services, LLC

[hammock]

Must be fun to be an accountant at these places

[eyphka]

Agreed, I don't understand how this doesn't immediately violate Reg Y.