| Amid Discover Merger
OCC Declares Capital One
Outstanding Who Is In OCC
Wallet?
by
Matthew R. Lee
SOUTH
BRONX, March
3 – Capital One has applied to
buy Discover, in an
anticompetitive deal that
should be rejected by
regulators if they mean what
they have been saying. After
they applied late March
20, Inner City Press
submitted a second Freedom of
Information Act request to the
Office of the Comptroller of
the Currency.
On March 3, days
after the CFPB dropped its
lawsuit against Capital One,
the OCC suddenly declared
Capital One "Outstanding"
under the Community
Reinvestment Act. Who's in
the OCC's wallet, now?
Back on July 26,
after a FOIA appeal - and
after closing the public
comment period - the OCC
belatedly gave Inner City
Press documents showing
Capital One briefed the OCC on
a "big" deal in November 2023;
it was code named "Project
Sirius."
Then overly
chummy texts from Andy
Navarrete, who testified at
the public meeting, and Pient
Tran to the OCC's Marci
Heppner and others.
For example, Andy
to Marci, sorry for the late
ping, if Richard wanted to
call, could you do a 1:1 Zoom
at 7:30 [pm]. But of course.
That and more now on Inner
City Press' DocumentCloud here
Inner City
Press continues to dig through
the records - and to prepare
another FOIA appeal.
Back on June 25
the OCC belatedly responded to
Inner City Press' FOIA request
- by withholding in full 185
pages. OCC FOIA production on
DocumentCloud here.
Inner City Press appealed.
On July
24, the very day on which the
OCC and Fed said they were
closing the written comment
period, the OCC upheld in full
its FOIA denials,
determination letter on Inner
City Press' Document Cloud here.
Inner City Press has requested
an extension of the comment
periods - the Fed hasn't even
responded. When did the Fed
start secret talks with
Capital One?
***
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