SOUTH BRONX, April 3 – After Capital One applied to buy Discover, in an anticompetitive deal that should be rejected by regulators, now Rocket announces a plan to buy Mr. Cooper, after Redfin. Expect more - including questions.
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." That and more now on Inner City Press' DocumentCloud here
Now Inner City Press' FOIA to the Fed resulted in 1000 plus pages, but redactions. It appealed, and on March 11 was granted expedited processing.
Now on April 3, another extension: "we are extending the period for our response until April 17, 2025, in order to consult with two or more components of the Board having a substantial interest in the determination of the appeal. If a determination can be made before April 17, 2025, we will respond to you promptly." So will they rule on FOIA before they rule on the merger? Watch this site.
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