Vote on Capital One-ING Deal Delayed

[Stocks-to-Watch]

The Federal Reserve was scheduled to vote today on whether to approve Capital One’s (COF) $9 billion deal to buy ING Direct. But the Fed said it is postponing the meeting, raising concerns that there may be some dissent about the plan among the Fed governors. Consumer groups have opposed the deal, arguing that it will create another banking behemoth.

The Fed declined to give an explanation, but Capital One told the Times that the switch was caused by a scheduling problem.

Five governors must approve the deal for it to go through.



Original Article Source by Barrons.com