Capital One Receives Approval to Repurchase TARP Preferred Shares
By admin - Posted on June 9th, 2009
Expects to Repurchase Shares in the Coming Weeks
MCLEAN, Va. -- June 9, 2009 -- Capital One Financial Corporation (NYSE: COF) today announced the U.S. Department of the Treasury informed the company that it is ready to process the company’s request to repurchase Treasury’s preferred investment made through Treasury’s Capital Purchase Program (CPP) of the Troubled Asset Relief Program (TARP).
In the coming weeks, Capital One expects to repurchase the $3.55 billion in preferred shares the company issued.
Source: Capital One
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