Twenty years ago, a major player in the credit card market announced intentions to diversify its business model by buying a bank. Two years later, they found the perfect fit, as Capital One acquired Hibernia, which had millions of customers in Louisiana and Texas.
The deal prompted many new opportunities, but one lasting impact was that it opened the door for Capital One to participate in the federal New Markets Tax Credit (NMTC) program, which encourages community development and economic growth…
