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Capital One gives employees $250 hurricane stipend

Capital One will pay $210 million in refunds

Capital One will pay $210 million in refunds and regulatory fines, it was announced on July 18, 2012. Most of the money will go directly to customers. (May 11, 2012) (Credit: AP)

Capital One Bank is helping its employees affected by Hurricane Sandy, providing associates with a $250 stipend for incidental expenses as well as additional hardship funds.

The bank, which is based in McLean, Va., said it is committed to assisting both its employees and the communities hit by the storm in a number of ways. Associates - those below the senior director level - will receive help in the form of the stipend and can access financial aid for flooding and property damage or the purchase of equipment like space heaters or pumps.

The company is also offering its employees locations to shower and food and water distribution sites, where employees can get boxed lunches, bottled water and ice.

"We recognize the impact Hurricane Sandy has had on our associates," said Shelley Solheim, a Capital One Bank spokeswoman. "And we are committed to helping them get through this trying time and to doing everything we can to help our communities recover and rebuild." 

This week, Capital One announced a $1 million commitment to support relief and recovery efforts. Those contributions include  $200,000 in emergency relief grants and $600,000 for longer-term recovery efforts. The company will also match up to $200,000 in contributions made by customers through the Capital One No Hassle Giving Site.


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