Capital One To Buy ING Direct

Originally published on June 17, 2011 9:41 am
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NPR's business news starts with a new giant in banking.


INSKEEP: Capital One started off as a credit card lender and then began buying traditional banks. Now the company wants to expand more. Capital One said yesterday it is paying $9 billion for online bank ING Direct. ING is based in the Netherlands but has millions of American customers. The deal would make Capital One the country's fifth largest bank. Transcript provided by NPR, Copyright NPR.