WASHINGTON, April 24 Capital One Financial Corp
agreed to pay $3.5 million to resolve securities
regulators' charges that it understated losses from auto loans
in the months leading up to the financial crisis, the Securities
and Exchange Commission said on Wednesday.
The SEC said Capital One failed to properly account for
losses in the second and third quarters of 2007.
The regulator said it also settled related charges against
the bank's former chief risk officer Peter Schnall and former
divisional credit officer David Lagassa.
The bank and its two executives neither admitted nor denied
the findings, the SEC said.