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...
Private-label credit cards, or store cards, make up a small percentage of overall consumer credit. The Federal Reserve estimated earlier this year that “retail credit outstanding” totaled $130 billion, or more than 2.5% of total outstanding consumer credit, as of the end of last year....
Security firm Tidal Cyber says it has landed investments from Capital One and USAA. The investments will help enhance the company’s enterprise edition platform and fuel the adoption of Tidal’s “threat-informed defense” offering, according to a Monday (Oct. 28) news release. In addition the investments will help accelerate Tidal’s go-to-market...
Capital One’s most recent quarterly earnings, posted Thursday (Oct. 24) after the bell, indicated that cardholders continued to embrace credit as a key payment method, and consumers remained in “good shape,” according to the CEO. The company’s earnings supplementals noted that card purchase volumes were...
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...
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 State Bank Commissioner. The bank received that approval Wednesday (Dec. 18), it said in a Thursday press release. Subject to the satisfaction of the remaining […]
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...
October 28, 2024
Security firm Tidal Cyber says it has landed investments from Capital One and USAA. The investments will help enhance the company’s enterprise edition platform and fuel the adoption of Tidal’s “threat-informed defense” offering, according to...
October 23, 2024
New York Attorney General Letitia James is reportedly investigating Capital One’s proposed acquisition of Discover Financial Services. James asked a court for permission to issue subpoenas to Capital One, saying...
