Capital One CEO Richard Fairbank addressed concerns that the company may be overly acquisitive, saying at the Barclays Capital Global Financial Services Conference on Tuesday that "we have gotten to where we need to do in the credit card business," while gaining scale, through the HSBC card purchase "in private label partnerships, where there are really three large players. Now Capital One is one of them."

"So we are really at our destination in these two businesses and in a position to generate I think a lot of earnings," he said, adding that because of the ING Direct purchase, "we now have core deposits as a percentage of liabilities, we're at the absolute highest end of all regional banks and far ahead of the money center banks, so we're at an absolute destination there."

Interested in more on Capital One? See TheStreet Ratings' report card for this stock.

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-- Written by Philip van Doorn in Jupiter, Fla.

>Contact by Email.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

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