| Capital One sues to stop San Francisco federal court’s credit card investigation |
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US bank Capital One has filed an injunction to the San Francisco federal court in an effort to stop California’s attorney general Jerry Brown gain access to its records. The court is investigating whether Capital One’s credit card business published false advertising and perpetrated unfair competition. Capital One converted its Virginia charter to that of a national banking association 18 months after Brown first requested access to Capital One books and records as well as interviews with Capital One employees. Capital One now argues that as a national bank, only the US Office of the Comptroller of the Currency can examine its records and enforce applicable laws. The attorney general’s office renewed the request for information last week, even though Capital One informed him of its revised charter. The attorney general asked Capital One to sign an agreement that said it was being investigated for possible violations of competition laws, for false advertising, as well as other possible violations. |



