Capital One paid $3.5 million to settle the case, but was not required to directly address the allegations of wrongdoing. In 2008, Capital One received an investment of $3.56 billion from the United States Treasury as a result of the Troubled Asset Relief Program. On June 17, 2009, Capital One completed the repurchase of the stock the company issued to the U.S. Treasury paying a total of $3.67 billion, resulting in a profit of over $100 million to the U.S. Treasury. In February 2009, Capital One acquired Chevy Chase Bank for $520 million in cash and stock. In January 2011, Capital One acquired Canada-based Hudson's Bay Company's private credit card portfolio from Synchrony Financial, then known as GE Financial. In June 2011, ING Group announced the sale of its ING Direct division to Capital One for $9 billion in cash and stock. On August 26, 2011, the Federal Reserve Board of Governors announced it would hold public hearings on the Capital One acquisition of ING Direct, and extend to October 12, 2011, the public comment period that had been scheduled to end August 22. The move came amidst rising scrutiny of the deal on systemic risk, or "Too-Big-to-Fail," performance under the Community Reinvestment Act, and pending legal challenges. A coalition of national civil rights and consumer groups, led by the National Community Reinvestment Coalition, were joined by Rep. Barney Frank to challenge immediate approval of the deal. The groups argued that the acquisition was a test of the Dodd-Frank Wall Street Reform and Consumer Protection Act, under which systemically risky firms must demonstrate a public benefit that outweighs new risk before they are allowed to grow. Kansas City Federal Reserve Bank head Thomas M. Hoenig was also skeptical of the deal. In February 2012, the acquisition was approved by regulators and Capital One completed its acquisition of ING Direct. Capital One received permission to merge ING into its business in October 2012, and rebranded ING Direct as Capital One 360 in November 2012. In April 2011, Capital One signed a deal with Kohl's to handle Kohl's private label credit card program that was previous serviced by Chase Bank for a seven-year period for an undisclosed amount. The contract between the two companies was extended in May 2014. In August 2011, Capital One reached a deal with HSBC to acquire its U.S. credit card operations. Capital One paid $31.3 billion in