COF » Topics » Additional share repurchase information is included in Part 1, Item 2. Section V, Management Summary, Q3 2007 Significant Events and Part 2, Item 2. Unregistered Sales of Equity Securities and Uses of Proceeds.

This excerpt taken from the COF 10-Q filed Nov 9, 2007.

Additional share repurchase information is included in Part 1, Item 2. Section V, Management Summary, Q3 2007 Significant Events and Part 2, Item 2. “Unregistered Sales of Equity Securities and Uses of Proceeds.”

 

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Note 12

Subsequent Events

Sale of interest in Spanish Market

On October 1, 2007 the Company completed the sale of its interest in a relationship agreement to develop and market consumer credit products in the Spanish Market. The gain related to this sale was approximately $30 million and will be recorded in non-interest income in the fourth quarter.

Settlement of American Express Lawsuit

On November 7, 2007, Visa and American Express announced that the Amex lawsuit had been settled and that the remaining bank defendants named in the lawsuit, including the Corporation, the Bank and the Savings Bank, would be dropped as defendants and released from all claims asserted in the lawsuit. The settlement agreement between Visa and American Express is subject to the approval of Visa’s member banks. The settlement of the Amex lawsuit will not have a material adverse effect on either the consolidated financial position of the Corporation or the Corporation’s results of operations in any future reporting periods.

 

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This excerpt taken from the COF 10-Q filed Nov 8, 2007.

Additional share repurchase information is included in Part 1, Item 2. Section V, Management Summary, Q3 2007 Significant Events and Part 2, Item 2. “Unregistered Sales of Equity Securities and Uses of Proceeds.”

 

19


Table of Contents

Note 12

Subsequent Events

Sale of interest in Spanish Market

On October 1, 2007 the Company completed the sale of its interest in a relationship agreement to develop and market consumer credit products in the Spanish Market. The gain related to this sale was approximately $30 million and will be recorded in non-interest income in the fourth quarter.

 

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EXCERPTS ON THIS PAGE:

10-Q
Nov 9, 2007
10-Q
Nov 8, 2007
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