Deals
Capital One Said to Near Purchase of HSBC Credit-Card Unit
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Capital One Financial Corp., the lender that agreed to buy ING Direct USA in June, is in advanced talks to purchase HSBC Holdings Plc’s credit-card portfolio, according to a person familiar with the discussions.
A deal between Capital One, based in McLean, Virginia, and HSBC may be announced soon, according to the person who declined to be identified because the discussions are private. HSBC’s portfolio held as much as $33 billion in loans, according to a company presentation in May.