Capital One Chief Executive Officer Richard Fairbank was hit with a $637,950 civil penalty to settle charges he broke US antitrust laws when he failed to report stock compensation in 2018, the Federal Trade Commission said on Thursday.

Fairbank initially failed to report receiving more than 100,000 shares of the company’s stock that year, violating a law that requires companies and individuals to report such large transactions to the U.S. Federal Trade Commission and Department of Justice. The CEO corrected the error in December 2019, the FTC said in a statement. READ MORE