Capital One Gets More Requests in Money-Laundering, Auto ProbesElizabeth Dexheimer
Capital One Financial Corp. said it received a request for information from the Department of Justice and U.S. Treasury Department’s Financial Crimes Enforcement Network as part of a money-laundering probe.
The bank previously received similar requests from the New York District Attorney’s Office. The request relates to “certain check-casher clients of the commercial-banking business,” the McLean, Virginia-based lender said Tuesday in a regulatory filing.
Capital One also said that Justice’s New Jersey office has requested information related to its subprime auto-origination and securitization activities. The bank previously said it received a similar subpoena from the New York District Attorney’s Office.
Regulators are pressing some of the biggest U.S. banks to verify that transactions are tied to legitimate business. They are also looking into the subprime auto-lending industry. Capital one is cooperating with all the investigations, according to the filing.