Posted in Financial

Capital One Financial : U.S. Probes Capital One for Possible Money Laundering

Justice League

Capital One Financial Corp. said the U.S. Justice and Treasury departments are looking into possible money-laundering violations at the company.

The bank said the Justice Department is also reviewing its subprime auto finance business.

The McLean, Va., company said the federal authorities had asked for the information in “early 2015,” according to a regulatory filing.

Last year, Capital One disclosed similar requests for information from the New York District Attorney’s Office, saying New York officials were reviewing “certain check casher clients of the Commercial Banking business.”

The company has also received a subpoena from The New York District Attorney’s Office seeking information related to its subprime auto finance business.

Read on.

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