Capital One, a subsidiary of Capital One Financial Corp. of McLean, Virginia (COF). said it closed the acquisition of the Hudson's Bay Company credit card portfolio and related assets from GE Capital Retail Finance. The deal was first announced on November 9, 2010.
The acquired portfolio includes outstanding receivables of approximately $1.3 billion, and the transfer of approximately 400 employees directly involved in servicing the Hudson's Bay Company's financial services business from the previous issuer to Capital One.
"We are continually looking for ways to broaden our card product offerings for consumers and expand the breadth of services we can provide to our partners." said Rob Livingston, President, Capital One Canada.
For comments and feedback contact: editorial@rttnews.com
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.