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Fed won't object to Capital One's resubmitted capital plan

The Federal Reserve Board announced March 9 it will not object to Capital One Financial Corp.'s resubmitted capital plan, but will continue to review and assess the company's progress in addressing weaknesses.

Capital One resubmitted its 2017 Comprehensive Capital Analysis and Review plan Dec. 24 after the Fed had initially given the McLean, Va.-based company a conditional nonobjection, asking it to address "material weaknesses" found in its planning process and practices.