Is Capital One or JPMorgan Chase a stronger bank?
Based on the federal “stress test” Capital One, which has set up shop in Wilmington after acquiring ING Direct, is the stronger of the two giants. The stress test involved simulating the worst financial situations a bank could meet. It’s an outgrowth of the financial meltdown of 2008 and collapse of Lehman Brothers.
Business Week recently took a lengthy look at Capital One and its stock price. Shares of Cap One, which still gets much of its profits from credit cards, remain relatively cheap, the story noted. The purchase of ING Direct, which has a large customer base, seems to be a plus for Capital One. The same is true for a credit card portfolio from HSBC.
Many ING Direct customers have been wary of the sale, given the maverick bank’s aversion to credit cards under previous ownership.
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