Could ING Court Win Affect Divestment Strategy?

By  |  March 4, 2012
 | 

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    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.


    See More In: