Capital One Financial has received a subpoena from the New York District Attorney’s office seeking information regarding the company’s subprime auto finance business, according to an SEC 10-Q filing Monday.
Capital One said in the filing it was cooperating with the investigation.
A spokesman for Capital One told Auto Finance News in an email that he had nothing else to add beyond the corporate filing that was issued.
The bank is the latest lender to disclose a government or regulatory probe into its subprime auto lending practices. Santander Consumer USA Inc, Ally Financial Inc and GM Financial have all received subpoenas from various law enforcement and regulatory agencies.
