Capital One

18 Stories

Capital One-Discover Deal Faces 'Gale-Force Headwinds'
Capital One-Discover Deal
Seen as 'Dangerous'
THE RUNDOWN
Feb 21, 2024 9:03 AM CST

Capital One-Discover Deal Seen as 'Dangerous'

Sen. Elizabeth Warren leads charge against $35B merger, saying it will hurt 'working people'

(Newser) - Capital One announced on Monday that it was buying Discover Financial Services, in a $35 billion deal to combine two of the nation's largest credit-card firms. But experts say it will take at least a year for the merger to be completed, and there's already pushback from advocacy...

Deal Would Combine Two Credit Card Giants
One Credit Card Giant
Is Buying Another
UPDATED
Feb 19, 2024 8:54 PM CST

One Credit Card Giant Is Buying Another

Capital One will take over Discover in all-stock transaction

(Newser) - Capital One and Discover Financial Services announced Monday that, as expected, the former is buying the latter for $35 billion. Discover's shareholders will receive shares of Capital One valued at almost $140, per the news release cited by the AP . Discover shares were trading at $110.49 when trading...

Online Bragging Led to Alleged Capital One Hacker

User named 'erratic' has been writing about the data

(Newser) - It's one of the biggest-ever data breaches of a bank—and an arrest has been made. That might be of little solace to the 106 million Capital One credit card customers and applicants who had their data stolen in late March. Paige Thompson, 33, was arrested Monday in Seattle....

Guy Can't Pay Bill, Capital One Sends New Keyboard
 Guy Can't Pay Bill, 
 Capital One Sends 
 New Keyboard 
IN CASE YOU MISSED IT
Aug 3, 2014 8:52 AM CDT

Guy Can't Pay Bill, Capital One Sends New Keyboard

MaskedKoala's number 2 key was ruined by orange juice

(Newser) - It’s a problem for the Internet era—the wonky keyboard key. For one Redditor and Capital One customer, his wonky key was the number 2 … which is part of his credit card account number. Also unable to copy and paste the required 2 in the account field online,...

Capital One: We Can Visit Cardholders at Home, Work

New contract has some pretty creepy language

(Newser) - Capital One's new update for credit card holders contains some language that sounds pretty alarming to David Lazarus at the Los Angeles Times : The firm says it "may contact you in any manner we choose"—including a "personal visit" that could be "at your home...

Banks Reel In Execs' 200% Bonus Limit to ... 150%

PNC, Capital One among 7 major banks taking action

(Newser) - Fearing too much risk-taking, the Federal Reserve has been calling on banks to cut down on the bonuses execs can get for blowing past their financial targets—and some top banks are following through. PNC, Capital One, Discover, and four other major financial firms are doing just that, the Wall ...

Subprime's New Frontier: Auto Loans

Banks jumping back into lucrative market

(Newser) - That whole "subprime crisis" hasn't scared banks away from the lucrative world of subprime lending. The nation's top subprime lenders—like Capital One, GM Financial, HSBC, and JPMorgan Chase—are all trying to woo back less-creditworthy borrowers, who tend to rack up late fees while paying rates...

Online Ad Companies Know Everything About You

Tracking cookies are watching

(Newser) - The second you land on Capital One’s homepage, they know, or at least, could know, where you live, what you do, how much you make, and loads of other information about you. That’s because Capital One employs a company called [x+1] Inc, a firm that uses the tracking...

Treasury to Let 10 Banks Repay $68B in TARP Loans

(Newser) - The Treasury Department has given 10 banks—including Goldman Sachs, JP Morgan, American Express, and Capital One—permission to repay their TARP loans, the Wall Street Journal reports. The government will recoup $68 billion faster than anticipated, but the money won’t go back into the public coffers; Tim Geithner...

Banks to Sell Stock to Repay TARP
Banks to Sell Stock to
Repay TARP
May 11, 2009 11:43 AM CDT

Banks to Sell Stock to Repay TARP

(Newser) - Hoping to take advantage of the up market, Capital One, US Bancorp, and a handful of other financial institutions are planning to sell a combined $7 billion worth of stock, the Wall Street Journal reports. Some of the resulting funds would be used to repay TARP money, getting the banks...

Stocks Slide on Grim Earnings
 Stocks Slide on Grim Earnings 
MARKET Open
Apr 22, 2009 8:43 AM CDT

Stocks Slide on Grim Earnings

(Newser) - Stocks headed lower at the open today, thanks to another round of dour corporate earnings. The Dow fell 44 points, while the S&P and Nasdaq dropped 0.9% and 0.8% respectively. Morgan Stanley tumbled more than 8%, after reporting a quarterly loss, and slashing its dividend. Wells Fargo,...

Dow Dives Below 8,000
 Dow Dives Below 8,000 
MARKET Open
Jan 23, 2009 8:47 AM CST

Dow Dives Below 8,000

Dow sees big-time dip

(Newser) - Stocks took a dive at the open, following big losses in Europe and more lousy earnings reports, the Wall Street Journal reports. The Dow tumbled 210 points to below 8,000, while the Nasdaq and S&P dove 2.1% and 2.6% respectively. Financials came under renewed pressure, with...

Struggling AmEx Asks Feds for $3.5B Infusion

Credit card company is reeling as consumers cut back spending

(Newser) - Falling consumer spending and rising defaults have prompted American Express—which has seen its stock plunge 57% this year—to ask for $3.5 billion from the government’s $700 billion bailout fund, reports the Wall Street Journal. The company Monday received Federal Reserve approval to become a bank holding...

Dow Tanks on Consumer Woes
Dow Tanks on Consumer Woes
MARKETS
Jan 11, 2008 3:25 PM CST

Dow Tanks on Consumer Woes

Index nosedives after more bad news about spending

(Newser) - The Dow plunged 246.79 points to 12,606.30 today as investors, worried about consumer spending, fled retailers and credit-card issuers. Analysts are concerned the mortgage crisis has finally hit pocketbooks, hurting credit, jobs, and public confidence, the Wall Street Journal reports.The Nasdaq slid 48.58 to close...

Stocks Soar After Bumpy Ride
Stocks Soar After Bumpy Ride
MARKETS
Jan 10, 2008 3:19 PM CST

Stocks Soar After Bumpy Ride

Streeters pleased with Bernanke speech, BofA news

(Newser) - The Dow finished up 117.78 points today, closing at 12,853.09 on signals from Fed chairman Ben Bernanke of interest-rate cuts to come and reports that Bank of America is in talks to buy home-loan giant Countrywide. It was a bumpy ride, though, as the key index was...

Cap One Cuts Earnings Forecast
Cap One
Cuts Earnings Forecast
Jan 10, 2008 6:46 AM CST

Cap One Cuts Earnings Forecast

Mortgage woes spread to credit card, car loan giant

(Newser) - The nation’s largest independent credit card issuer, facing worsening loan troubles and a struggling US economy, says it will cut its 2007 profit forecast 20%. Capital One Financial 's news is another indicator that the mortgage crisis is infecting other loans, the Wall Street Journal notes; the company is...

Americans Falling Behind on Credit Cards

Amount overdue on US accounts surged 26% in October

(Newser) - It’s already looking like an iffy New Year for many credit-card holders: the number of Americans falling behind on their payments spiked sharply this year and analysts don’t expect 2008 to be much brighter. The value of credit card accounts at least 30 days late surged 26% in...

Countrywide Cuts 500 Jobs
Countrywide Cuts 500 Jobs
Aug 21, 2007 10:54 AM CDT

Countrywide Cuts 500 Jobs

Fallout from subprime crisis continues

(Newser) - The nation's top home lender is cutting 500 jobs in its subprime mortgage units in response to the high-risk-lending mess. Before the cuts announced yesterday, Countrywide was actively hiring workers who had been fired from other companies, the LA Times reports. Meanwhile, Capital One said it will close the unit...

18 Stories