UPDATE 1-Capital One sees Q4 charge from American Express suit

miércoles 12 de diciembre de 2007 22:59 CET
 

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Dec 12 (Reuters) - Capital One Financial Corp (COF.N: Cotización) said it expects to take a charge of about $80 million in the fourth quarter to settle an anti-trust lawsuit brought by American Express Co. (AXP.N: Cotización) against credit card associations, according to a regulatory filing.

In November, Visa agreed to pay $2.1 billion to settle the suit, brought against it, MasterCard (MA.N: Cotización) and eight banks including Capital One.

The lawsuit was originally filed in U.S. federal court after the U.S. Supreme Court rejected appeals by Visa and MasterCard of a ruling that the two credit card associations violated antitrust law by barring banks from issuing credit cards for rival networks.

Visa, which has filed for an initial public offering, has historically been owned by banks.

Shares of the company closed down over 3 percent at $48.27 on the New York Stock Exchange Wednesday. (Reporting by Avishek Mishra in Bangalore; Editing by Anthony Kurian)