Capital One says it has restored service after a days-long outage locked thousands of customers from their accounts. “Account functionality for all customers is now restored,” the bank holding company wrote in a post Sunday (Jan. 19) on X. “We sincerely apologize for how frustrating...
The Consumer Financial Protection Bureau (CFPB) sued Capital One Tuesday (Jan. 14), alleging that the bank promoted one savings account as offering one of the nation’s “highest” interest rates at the same time it offered another one that paid out rates that were as much...
Capital One said Thursday (Dec. 19) that its previously announced acquisition of Discover Financial Services has moved another step toward completion by receiving approval from the Office of the Delaware State Bank Commissioner. The bank received that approval Wednesday (Dec. 18), it said in a...
Capital One disclosed Thursday (Oct. 31) that it could face an enforcement action by the Consumer Financial Protection Bureau (CFPB) regarding its introduction of a new savings account product with a higher interest rate than its existing savings account products. The regulator sent the bank...
April 02, 2024
2019, the year of the payments industry mega-deals, seems long ago and far away. Before the pandemic, the headlines were awash in waves of verticalization, where large firms scooped up other large firms for tens of billions of dollars. FIS bought Worldpay for a staggering $43 billion. Fiserv bought First Data for more than $22 billion. Global Payments added TSYS to its roster for nearly $22 billion. Much has happened […]
February 29, 2024
The news that Capital One has launched a $35 billion bid to acquire Discover Financial has shaken up the financial services industry. Jim McCarthy, CEO of Thredd, told Karen Webster...
February 20, 2024
In any industry, a $35 billion deal is, of course … a big deal. But in financial services, the news that Capital One has set the stage to buy Discover...
January 30, 2024
Where there’s smoke, there’s fire, goes the old aphorism. In the credit card space, and within the private-label subset of that industry, the flames are not here yet, although wisps...
January 20, 2025
Capital One says it has restored service after a days-long outage locked thousands of customers from their accounts. “Account functionality for all customers is now restored,” the bank holding company wrote in a post Sunday (Jan. 19) on X. “We sincerely apologize for how frustrating this experience has been. We are committed to making it […]
January 14, 2025
The Consumer Financial Protection Bureau (CFPB) sued Capital One Tuesday (Jan. 14), alleging that the bank promoted one savings account as offering one of the nation’s “highest” interest rates at...
December 19, 2024
Capital One said Thursday (Dec. 19) that its previously announced acquisition of Discover Financial Services has moved another step toward completion by receiving approval from the Office of the Delaware...
November 01, 2024
Capital One disclosed Thursday (Oct. 31) that it could face an enforcement action by the Consumer Financial Protection Bureau (CFPB) regarding its introduction of a new savings account product with...
