ING won a court decision against the European Commission that may lead to changes to the terms of the firm’s 2008 bailout, Bloomberg reports.
The Commission had been referring to a revision of repayment terms as a form of additional aid, Bloomberg writes. The reversal of that stance “will force regulators to re-open their assessment of part of the Dutch government’s bailout to the bank.”
As part of the bailout, ING had been ordered to sell off a number of its assets, including its U.S.-based online banking operations. Capital One’s purchase of those operations brought its total deposit base to $80 billion.
The subsequent approval process administered by the Federal Reserve yielded interesting commentary.
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