Sharp drop in reserves to cover bad loans helps lift Capital One Financial's 2Q net income

  • by: ALEX VEIGA , AP Business Writer
  • Updated: July 18, 2013 - 6:45 PM

LOS ANGELES — Capital One Financial Corp. said Thursday that its second-quarter profit vaulted versus the same period last year, when the lender set aside $1.7 billion to cover bad loans.

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