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Article Date: September 2017
Word Count: 183

Fed Reserve Board Approves Sale of Cabela’s Banking Operation


The approval, which had been expected, clears the final hurdle for the merger of Bass Pro and Cabela’s, after a long and tortuous process. The original terms of the deal were scuttled because Capital One’s credit card division was unable to buy Cabela’s banking assets due to the opposition of the Comptroller of the Currency over an unrelated money laundering scheme. Synovus Bank the intercepted the transaction, agreeing to buy the whole operation, assume control of the deposits and then sell the credit card operation to Capital One. The deal is ... Log in to view full article.

 


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