{{short description|American bank holding company}} {{Use American English|date=February 2026}} {{Use mdy dates|date=October 2022}} {{Infobox company | name = Capital One Financial Corporation | logo = Capital One logo.svg | image = CapitalOneHQ body.jpg | image_caption = Capital One Tower, the company's headquarters in Tysons, Virginia | type = Public | traded_as = {{Unbulleted list|{{New York Stock Exchange|COF}}|S&P 100 component|S&P 500 component }} | industry = Financial services | founded = {{start date and age|1994|07|21}} in Richmond, Virginia, U.S. | founders = {{Unbulleted list| Richard Fairbank | Nigel Morris}} | hq_location = Capital One Tower | hq_location_city = Tysons, Virginia | hq_location_country = U.S. | areas_served = Canada, United Kingdom, United States | key_people = {{Unbulleted list | Richard Fairbank (chairman, president and CEO) | Andrew Young (CFO)}} | revenue = {{nowrap|{{increase}} {{US$|53.4 billion|link=yes}} (2025)}} | operating_income = {{increase}} US$5.91 billion (2024) | net_income = {{increase}} US$4.747 billion (income before tax) (2024) | assets = {{increase}} US$669.009 billion (2025) | equity = {{increase}} US$94.552 billion (2025) | num_employees = 76,300 (2025) | brands = {{Plainlist| * Capital One * CreditWise * Discover * Diners Club * Pulse }} | ratio = 12.9% (2023) | website = {{URL|https://capitalone.com}} | footnotes = Financials {{as of|2022|12|31|lc=y|df=US}}<ref name=10K>{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0000927628/000092762826000024/cof-20251231.htm | title=Capital One Financial Corporation 2025 Form 10-K Annual Report | publisher=United States Securities and Exchange Commission | date=February 19, 2026}}</ref> }} '''Capital One Financial Corporation''' is an American bank holding company headquartered in Tysons, Virginia, with operations in the United States, Canada, and the United Kingdom.<ref name=10K/> It is one of the largest banks in the United States, one of the largest car finance companies in the United States, and is the largest issuer of credit cards in the United States. It owns the Discover Card, Diners Club, and Pulse payment networks.<ref name=10K/> The company's three business segments are credit cards, consumer banking, and commercial banking.<ref name=10K/> It has approximately 750 bank branches, including over 60 café style locations,<ref>{{Cite web | url=https://www.capitalone.com/local/#locations | title=Locations}}</ref><ref>{{Cite news | url=https://finance.yahoo.com/news/deal-capital-one-caf-202748289.html | title=What’s the deal with Capital One Cafés? | first=Russell | last=Falcon | work=Nexstar Media Group | via=Yahoo Finance | date=March 15, 2025}}</ref> and 7,000 ATMs in the United States. The company's corporate headquarters are in the Capital One Tower and its European headquarters are in Trent House, Nottingham.

The company is ranked 82nd on the Fortune 500.<ref>{{cite web | url=https://fortune.com/company/capital-one-financial/ | title=Fortune: Capital One Financial | publisher=Fortune | url-access=subscription}}</ref>

The company helped pioneer the mass marketing of credit cards in the 1990s.<ref>{{cite news | url=https://archive.nytimes.com/thequad.blogs.nytimes.com/2010/01/01/capital-one-bowl-no-13-penn-state-10-2-vs-no-12-lsu-9-3/ | title=Capital One Bowl: No. 13 Penn State (10-2) vs. No. 12 L.S.U. (9-3) | first=PAUL | last=MYERBERG | work=The New York Times | date=January 1, 2010}}</ref><ref>{{Cite web | url=https://www.britishmuseum.org/collection/term/BIOG182320 | title=Capital One | work=British Museum}}</ref>

==History== ===1994–2004=== thumb|Capital One retail footprint as of 2010

Richard Fairbank and Nigel Morris developed the idea of using information technology and statistical analysis to create customized credit card offers for different segments of customers in 1987. At the time, most credit cards would offer the same terms—interest rate and annual fee—to almost everyone, regardless of the financial risks of each customer.<ref name=secret>{{Cite web |url=https://www.bankdirector.com/article/capital-ones-secret-to-success/ |title=Capital One's Secret to Success | first=Naomi | last=Snyder |work=Bank Director | date=August 15, 2022}}</ref> However, Fairbank and Morris' idea was to drop the fee and target various credit card terms to specific customers. They consulted with Oracle Corporation on how to compile the demographics and other statistics that would help them sort out and identify those customer market segments.<ref>{{Cite news | url=https://www.managementtoday.co.uk/know-customer-relationship-management-capital-one/article/547907 | title=In the Know - Customer Relationship Management at Capital One | first1=Werner | last1=Reinartz | first2=Ulrike | last2=Wieh | work=Management Today | date=July 23, 2013}}</ref>

They then started soliciting banks regarding using their approach, indicating that they anticipated large profits based on the large numbers of customers they projected to enroll.<ref>{{Cite web | url=https://www.encyclopedia.com/economics/news-wires-white-papers-and-books/fairbank-richard-d-ca-1950 | title=Fairbank, Richard D. ca. 1950– | work=Encyclopedia.com}}</ref><ref name=sharp>{{Cite news | url=https://www.institutionalinvestor.com/article/2btghbolxjdxnr1f63xts/home/richard-fairbank-of-capital-one-financial-corp-card-sharp | title=Richard Fairbank of Capital One Financial Corp.: Card sharp |work=Institutional Investor | date=January 14, 2005}}</ref> They convinced Richmond, Virginia-based Signet Bank to start a credit card division called Signet Financial in 1988 that would utilize their approach. As part of the deal, they became employees of Signet.<ref name=secret/> In 1991, Fairbank and Morris were successful with a mass mailing that offered to transfer existing credit card balances from other banks' credit cards for the opportunity of a lower interest rate with Signet.<ref name=sharp/>

In July 1994, Signet Financial announced the corporate spin-off of Capital One, at first naming it OakStone Financial with Fairbank as CEO and Morris as COO.<ref>{{cite news | url=https://www.nytimes.com/1994/07/28/business/company-news-signet-banking-to-spin-off-credit-card-business.html | title=COMPANY NEWS; SIGNET BANKING TO SPIN OFF CREDIT CARD BUSINESS | work=The New York Times | date=July 28, 1994}}</ref><ref>{{Cite news | url=https://www.washingtonpost.com/archive/business/1994/07/28/signet-plans-credit-card-unit-spinoff/3527c117-fca8-4f32-8e41-53d0b0799256/ | title=SIGNET PLANS CREDIT CARD UNIT SPINOFF |newspaper=The Washington Post |date=March 4, 2024 |issn=0190-8286}}</ref> After the initial public offering in October 1994, the new company was renamed Capital One.<ref>{{cite news | url=https://www.baltimoresun.com/1994/10/12/signet-renames-credit-card-subsidiary-capital-one/ | title=Signet renames credit card subsidiary Capital One | first=David | last=Conn | work=The Baltimore Sun | date=October 12, 1994 | url-access=subscription}}</ref><ref>{{cite news | url=https://www.bankdirector.com/magazine/archives/2nd-quarter-2006/capital-one-charts-a-new-course/ | title=Capital One Charts a New Course | first=Jack | last=Milligan | work=Bank Director | date=June 3, 2011}}</ref> The spin-off was completed in February 1995.

At that time, Capital One was a ''monoline'' bank, meaning that all of its revenue came from a single product, in this case, credit cards.<ref name=realist>{{cite web | url=https://articles.marketrealist.com/2015/03/capital-ones-history-credit-cards-diversified-bank/ | title=Capital One's history: From credit cards to a diversified bank | first=Saul | last=Perez | publisher=Market Realist | date=March 5, 2015}}</ref> This strategy is risky in that it can lead to losses during bad times.<ref name=realist/> Capital One attributed its relative success as a monoline to its use of data collection to build demographic profiles, allowing it to target personalized offers of credit directly to consumers.<ref>{{cite news | url=https://www.cio.com/article/2441173/capital-one-builds-entire-business-on-savvy-use-of-it.html | title=Capital One Builds Entire Business on Savvy Use of IT | first=Malcolm | last=Wheatley | work=CIO magazine | date=November 1, 2001}}</ref>

===1996–2005=== In 1996, Capital One moved from relying on teaser rates to generate new clients to adopting more innovative techniques that would attract more customers to their business model. At the time, it was losing customers to competitors who offered higher ceilings on loan balances and no-annual-fee accounts. The company came up with co-branded, secured, and joint account credit cards. In mid-1996, Capital One received approval from the federal government to set up Capital One FSB. This meant that the company could now retain and lend out deposits on secured cards and even issue automobile installment loans.<ref name="directory">{{cite book |title=International Directory of Company Histories, ''Vol. 52'' |date=2003 |publisher=St. James Press |chapter=Capital One Financial Corporation}}</ref>

In 1996, Capital One expanded to the United Kingdom and Canada.<ref>{{Cite web | url=https://www.encyclopedia.com/books/politics-and-business-magazines/capital-one-financial-corporation | title=Capital One Financial Corporation | work=Encyclopedia.com}}</ref><ref>{{Cite news | url=https://www.cio.com/article/266326/business-alignment-capital-one-builds-entire-business-on-savvy-use-of-it.html | title=Capital One Builds Entire Business on Savvy Use of IT | work=CIO | date=November 1, 2001}}</ref>

In July 1998, Capital One acquired auto financing company Summit Acceptance Corporation.<ref>{{cite news | url=https://www.nytimes.com/1998/07/17/business/company-news-capital-one-plans-purchase-of-auto-financing-company.html | title=CAPITAL ONE PLANS PURCHASE OF AUTO FINANCING COMPANY | work=The New York Times | agency=Bloomberg L.P. | date=July 17, 1998 |url-access=subscription}}</ref>

In 1999, CEO Richard Fairbank announced moves to use Capital One's experience with collecting consumer data to offer loans, insurance, and phone service.<ref>{{cite news | url=https://www.bloomberg.com/news/articles/1999-11-21/capital-one-isnt-there-more-to-life-than-plastic |title=Capital One: Isn't There More To Life Than Plastic? | first=Mike | last=Mcnamee | work=Bloomberg L.P. | date=November 21, 1999}}</ref>

In October 2001, PeopleFirst Finance was acquired by Capital One.<ref>{{cite press release | url=https://www.sec.gov/Archives/edgar/data/927628/000092838501501815/dex991.txt | title=Capital One Financial Agrees to Acquire PeopleFirst Inc.; Expands Auto Financing Business | publisher=U.S. Securities and Exchange Commission | date=September 21, 2001}}</ref> The companies were combined and re-branded as Capital One Auto Finance Corporation in 2003.<ref>{{cite news | url=https://www.fi-magazine.com/news/peoplefirst-changes-brand-to-capital-one-auto-finance | title=PeopleFirst Changes Brand to Capital One Auto Finance | work=FI Magazine | date=June 27, 2003}}</ref>

In late 2002, Capital One and the United States Postal Service proposed a negotiated services agreement (NSA) for bulk discounts in mailing services.<ref>{{cite web | url=https://about.usps.com/strategic-planning/cs02/1d5.htm | title=CAPITAL ONE NEGOTIATED SERVICE AGREEMENT: DOCKET NO. MC2002-2 | work=United States Postal Service}}</ref> The resulting three-year agreement<ref>{{cite web | url=https://www.prc.gov/Docs/38/38142/MC2002-2.pdf | title=Experimental Rate and Service Changes to Implement Negotiated Service Agreement with Capital One: OPINION AND RECOMMENDED DECISION | date=May 15, 2003}}</ref> was extended in 2006.<ref>{{cite web | url=https://about.usps.com/strategic-planning/cs06/chp1-015.html | title=Chapter 1 Compliance with Statutory Policies | publisher=United States Postal Service}}</ref> In June 2008, however, Capital One filed a complaint with the USPS regarding the terms of the next agreement,<ref>{{Cite web | url=https://www.govinfo.gov/content/pkg/FR-2008-08-08/pdf/E8-18292.pdf | title=Federal Register Vol. 73, No. 154 | publisher=Federal Register | via=GovInfo | date=August 8, 2008}}</ref> citing the terms of the NSA of Capital One's competitor, Bank of America. Capital One subsequently withdrew its complaint to the Postal Regulatory Commission following a settlement with the USPS.<ref>{{cite web | url=https://about.usps.com/strategic-planning/cs09/CSPO_09_008.htm |title=Postal Regulatory Commission Proceedings| publisher=United States Postal Service}}</ref>

Automobile loan financer Onyx Acceptance Corporation was acquired by Capital One in January 2005.<ref>{{cite news | url=https://www.bizjournals.com/washington/stories/2005/01/10/daily17.html | title=Capital One completes Onyx acquisition | first=Jeff | last=Clabaugh | work=American City Business Journals | date=January 12, 2005}}</ref>

===2005–present=== [[File:CapitalOneCafeHydeParkChicago.jpg|thumb|Capital One Café in Chicago]] In 2005, Capital One acquired New Orleans, Louisiana-based Hibernia National Bank for $4.9 billion in cash and stock, becoming the first monoline credit card issuer to buy a bank.<ref>{{cite news | url=https://www.americanbanker.com/payments/news/cap-one-enters-retail-banking |title=Cap One Enters Retail Banking |work=American Banker |date=April 1, 2005}}</ref><ref>{{cite press release | url=https://www.sec.gov/Archives/edgar/data/927628/000090342305000927/capone_ex991-1116.htm | title=Capital One Completes Acquisition of Hibernia Corporation | publisher=U.S. Securities and Exchange Commission | date=November 16, 2005}}</ref> This reduced its dependency on the credit-card business.<ref>{{cite news | url=https://www.forbes.com/2006/03/13/credit-cards-banks-cx_lm_0314northfork.html | title=A Hot Time In Banking | first=Liz | last=Moyer | work=Forbes | date=March 4, 2006}}</ref>

Capital One acquired Melville, New York-based North Fork Bank and its subsidiary, GreenPoint Mortgage, for $13.2 billion in cash and stock in 2006.<ref>{{cite press release | url=https://www.sec.gov/Archives/edgar/data/927628/000119312506245235/dex991.htm | title=Capital One Completes Acquisition of North Fork Bancorporation | publisher=U.S. Securities and Exchange Commission | date=December 1, 2006}}</ref> In August 2007, during the subprime mortgage crisis, Capital One closed GreenPoint Mortgage, due in part to investor pressures, cutting 1,900 jobs and leading to $860 million in charges.<ref>{{cite news | url=https://www.reuters.com/article/us-financial-mortgages/luminent-thornburg-take-liquidity-steps-idUSN2027429520070820/ | title=Capital One slashes jobs, mortgage industry swoons | first=Dan | last=Wilchins | work=Reuters | date=August 20, 2007}}</ref><ref>{{cite news | url=https://www.cnbc.com/2007/08/20/capital-one-financial-closes-wholesale-mortgage-unit.html | title=Capital One Closes Wholesale Mortgage Unit | agency=Associated Press |publisher=CNBC | date=August 20, 2007}}</ref><ref>{{cite news | url=https://www.wsj.com/articles/SB118764159728403271 | title=Capital One to Close Its GreenPoint Unit | first=Valerie | last=Bauerlein | work=The Wall Street Journal | date=August 21, 2007 |url-access=subscription}}</ref><ref>{{cite news | url=https://www.cnbc.com/2007/08/20/capital-one-financial-closes-wholesale-mortgage-unit.html | title=Capital One Financial Closes Wholesale Mortgage Unit | agency=Associated Press | publisher=CNBC | date=August 20, 2007}}</ref>

In August 2007, Capital One agreed to acquire NetSpend for $700 million. In November 2007, the transaction was modified; Capital One instead acquired just a minority interest in NetSpend.<ref>{{Cite news | url=https://www.reuters.com/article/markets/capital-one-netspend-terminate-acquisition-plan-idUSN19224135/ | title=Capital One, NetSpend terminate acquisition plan | first1=Dan | last1=Wilchins | first2=Sharangdhar | last2=Limaye | editor-first=Phil | editor-last=Berlowitz | work=Reuters | date=November 19, 2007}}</ref>

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.<ref>{{cite web | url=http://pdf.secdatabase.com/432/0001193125-08-237987.pdf | title=Capital One, Form 8-K, Current Report, Filing Date Nov 18, 2008 | publisher=secdatabase.com | date=November 18, 2008}}</ref><ref>{{cite web | url=https://www.treasury.gov/initiatives/financial-stability/briefing-room/reports/tarp-transactions/DocumentsTARPTransactions/TransactionReport-11172008.pdf | title=CAPITAL PURCHASE PROGRAM Transaction Report | publisher=United States Treasury | work=Tarp Transactions | date=November 17, 2008}}</ref> In June 2009, Capital One repurchased the stock the company issued to the U.S. Treasury for $3.67 billion, resulting in a profit of over $100 million to the U.S. Treasury.<ref>{{cite web | url=http://edgar.secdatabase.com/1088/119312509132345/filing-main.htm | title=Capital One, Form 8-K, Current Report, Filing Date Jun 17, 2009 | publisher=secdatabase.com | date=June 17, 2009}}</ref>

In 2008, Capital One debuted its blue and red "swoosh" logo, and began a $13 billion marketing campaign. The similarity of the logo to that of Credit One Bank, which adopted a similar logo in 2006, caused confusion among consumers, with many not realizing they were separate companies.<ref>{{cite web | last1=Surane | first1=Jennifer | title=The Strange Case of the Look-Alike Credit Cards | url=https://www.bloomberg.com/news/articles/2017-12-05/the-strange-case-of-the-look-alike-credit-cards | work=Bloomberg News | date=December 5, 2017 | url-access=subscription}}</ref>

In February 2009, Capital One acquired Chevy Chase Bank for $520 million in cash and stock.<ref>{{cite news | url=https://www.bizjournals.com/baltimore/stories/2009/02/23/daily56.html | title=Capital One completes Chevy Chase acquisition | first=Jeff | last=Clabaugh | work=American City Business Journals | date=February 27, 2009 | url-access=subscription}}</ref><ref>{{cite news | url=https://archive.nytimes.com/dealbook.nytimes.com/2008/12/04/capital-one-may-acquire-a-rival-bank/ | title=Capital One to Buy Chevy Chase Bank | work=The New York Times | date=December 4, 2008}}</ref><ref>{{cite news | url=https://www.wsj.com/articles/SB122834863033277609 | title=Capital One to Acquire Chevy Chase Bank | first=Dan | last=Fitzpatrick | work=The Wall Street Journal | date=December 4, 2008 |url-access=subscription}}</ref><ref>{{cite news | url=https://www.washingtonpost.com/wp-dyn/content/article/2008/12/04/AR2008120401068.html | title=Capital One Awoke To Its Dream Deal | last1=Goldfarb | first1=Zachary A. | last2=Appelbaum | first2=Binyamin | newspaper=The Washington Post | date=December 4, 2008}}</ref>

In January 2011, Capital One acquired Canada-based Hudson's Bay Company's private credit card portfolio from GE Financial.<ref>{{cite news | url=https://www.rttnews.com/1524613/capital-one-closes-hudson-s-bay-co-credit-card-portfolio-buyout-quick-facts.aspx | title=Capital One Closes Hudson's Bay Co. Credit Card Portfolio Buyout - Quick Facts | work=RTT News | date=January 11, 2011}}</ref>

In April 2011, Capital One signed a deal with Kohl's to handle Kohl's private label credit card program that was previously serviced by Chase Bank for a seven-year period for an undisclosed amount.<ref>{{cite news | url=https://www.washingtonpost.com/business/capitalbusiness/capital-one-wins-deal-to-back-kohls-credit-cards/2011/04/07/AFdmSlFD_story.html | title=Capital One wins deal to back Kohl's credit cards |first=Danielle | last=Douglas | newspaper=The Washington Post | date=April 10, 2011 | url-access=subscription}}</ref> The contract was extended several times.<ref>{{Cite press release | url=https://www.prnewswire.com/news-releases/kohls-and-capital-one-announce-multi-year-extension-of-credit-card-partnership-301505508.html | title=Kohl's and Capital One Announce Multi-Year Extension of Credit Card Partnership | publisher=PR Newswire | date=March 18, 2022}}</ref>

In June 2011, ING Group announced the sale of its ING Direct division to Capital One for $9 billion in cash and stock.<ref>{{cite press release | url=https://ing.com/news/2018/09/ing-to-sell-ing-direct-usa-to-capital-one.html | title=ING To Sell ING Direct USA to Capital One | publisher=ING Group | date=June 16, 2011}}</ref><ref>{{cite news | url=https://www.washingtonpost.com/business/economy/capital-one-bank-to-acquire-ing-direct-usa/2011/06/16/AG4fVzXH_story.html | title=Capital One Bank to acquire ING Direct USA | first=Renae | last=Merle | newspaper=The Washington Post | date=June 16, 2011}}</ref> The transaction was scrutinized by Barney Frank, Thomas M. Hoenig, and others on the basis of the bank becoming too big to fail, but nevertheless, the acquisition received regulatory approval and was completed in February 2012.<ref>{{cite press release | url=https://www.federalreserve.gov/newsevents/pressreleases/orders20110826a.htm | publisher=Federal Reserve System | title=Federal Reserve Board announces public meetings on the notice by Capital One Financial Corporation to acquire ING Bank | date=August 26, 2011}}</ref><ref>{{cite news | url=https://www.reuters.com/article/us-usa-fed-hoening-idUSTRE77O5P420110825 | title=Fed's Hoenig Says Doesn't See Recession Looming | first=Mark | last=Felsenthal | work=Reuters | date=August 25, 2011}}</ref><ref>{{cite news | url=https://www.washingtonpost.com/business/economy/steven-pearlstein-time-to-say-no-to-bank-consolidation/2011/08/20/gIQA8Q5LjJ_story.html | title=Steven Pearlstein: Time to say no to bank consolidation | last=Pearlstein | first=Steven | newspaper=The Washington Post | date=August 28, 2011}}</ref><ref>{{cite press release | url=http://www.prnewswire.com/news-releases/capital-one-completes-acquisition-of-ing-direct-139515678.html | title=Capital One Completes Acquisition of ING Direct | publisher=PR Newswire | date=February 17, 2012}}</ref> ING Direct was rebranded as Capital One 360 in November 2012.<ref>{{cite news | url=https://www.bizjournals.com/washington/blog/2012/11/ing-direct-rebranded-as-capital-one-360.html | title=ING Direct rebranded as Capital One 360 | work=American City Business Journals | first=Bryant | last=Ruiz Switzky | date=November 8, 2012 | url-access=subscription}}</ref>

In August 2011, Capital One acquired the U.S. credit card operations of HSBC.<ref>{{cite news | url=https://www.reuters.com/article/us-hsbc-capitalone/capital-one-bulks-up-u-s-cards-with-hsbc-deal-idUSTRE7790W620110810 | title=Capital One bulks up U.S. cards with HSBC deal | work=Reuters | first1=Dan | last1=Wilchins | first2=Denny | last2=Thomas | date=August 10, 2011}}</ref> Capital One paid $31.3 billion in exchange for $28.2 billion in loans and $600 million in other assets. The acquisition was completed in May 2012.<ref>{{cite news |url=https://wallethub.com/edu/hsbc-credit-cards-become-capital-one-credit-cards/25661/ | title=Most HSBC Credit Cards Become Capital One Credit Cards | first=John S. | last=Kiernan | work=WalletHub | date=May 3, 2012}}</ref> The acquisition also included private issued credit cards for such companies as Saks Fifth Avenue, Neiman Marcus, and Lord & Taylor that were previously handled by HSBC.<ref name="wp-2011aug10">{{cite news |url=https://www.washingtonpost.com/business/economy/capital-one-snags-hsbc-credit-card-business/2011/08/10/gIQArj136I_story.html |title=Capital One snags HSBC credit card business |newspaper=The Washington Post |date=August 10, 2011 |first=Danielle |last=Douglas}}</ref>

In February 2012, along with several other banks, Capital One announced support for the Isis Mobile Wallet payment system.<ref>{{cite news | url=https://www.paymentsdive.com/ex/mpt/news/isis-adds-card-issuers-chase-cap-one-and-barclaycard-as-partners/ | title=Isis adds card issuers Chase, Cap One and BarclayCard as partners | work=Industry Dive | date=February 27, 2012}}</ref> However, in September 2013, Capital One dropped support for the venture.<ref>{{cite news | url=https://www.pcmag.com/article2/0,2817,2424630,00.asp|title=Capital One Drops Support for Isis Mobile Wallet | work=PC Magazine | first=Stephanie | last=Mlot | date=September 20, 2013}}</ref>

In 2012, Capital One closed 41 branch locations.<ref>{{cite news | url=https://money.cnn.com/2013/01/25/pf/banks-online-mobile-banking/ | archive-url=https://web.archive.org/web/20130128035844/http://money.cnn.com/2013/01/25/pf/banks-online-mobile-banking | url-status=dead | archive-date=January 28, 2013 | title=Say goodbye to more bank branches | first=Blake | last=Ellis | work=CNN | date=January 25, 2013}}</ref>

In February 2014, Capital One amended its terms of use to allow it to "contact you in any manner we choose", including a "personal visit . . . at your home and at your place of employment". It also asserted its right to "modify or suppress caller ID and similar services and identify ourselves on these services in any manner we choose".<ref name=latimes>{{cite news | author-link=David Lazarus | first=David | last=Lazarus | url=https://www.latimes.com/business/la-fi-lazarus-20140218-column.html | title=Capital One says it can show up at cardholders' homes, workplaces | work=Los Angeles Times | date=February 17, 2014}}</ref> The company stated that it would not actually make personal visits to customers except "As a last resort, . . . if it becomes necessary to repossess [a] sports vehicle".<ref name=latimes/> Capital One also attributed its assertion of a right to "spoof" as necessary because "sometimes the number is 'displayed differently' by 'some local phone exchanges,' something that is 'beyond our control'".<ref>{{cite news | first=Amanda | last=Alix | url=https://www.fool.com/investing/general/2014/02/19/capital-one-to-customers-you-cant-hide-from-us.aspx | title=Capital One to Customers: You Can't Hide From Us | work=The Motley Fool | date=February 19, 2014}}</ref>

In February 2014, Capital One acquired 25% of ClearXchange, a peer-to-peer transaction money transfer service.<ref>{{cite news | url=https://www.bizjournals.com/washington/inno/stories/news/2014/03/10/capital-one-joins-p2p-online-banking-platform.html | title=Capital One Joins P2P Online Banking Platform | first=Eric Hal | last=Schwartz | work=American City Business Journals | date=March 10, 2014 | url-access=subscription}}</ref> ClearXchange was sold to Early Warning in 2016.<ref>{{cite press release | url=https://www.earlywarning.com/press-release/early-warning-completes-acquisition-clearxchange | title=Early Warning Completes Acquisition of clearXchange | publisher=Early Warning | date=January 12, 2016}}</ref>

In October 2014, Capital One acquired Adaptive Path, a San Francisco-based user experience and digital design consultancy.<ref>{{cite news | url=https://techcrunch.com/2014/10/02/adaptive-path-acquired-by-capital-one/ | title=Design Firm Adaptive Path Acquired By Capital One | first=Anthony | last=Ha | work=TechCrunch | date=October 2, 2014}}</ref>

In January 2015, Capital One acquired Level Money, a budgeting app for consumers.<ref>{{cite news | url=https://techcrunch.com/2015/01/12/capital-one-acquires-budgeting-app-level-money/ | title=Capital One Acquires Budgeting App Level Money | first=Sarah | last=Perez | work=TechCrunch | date=January 12, 2015}}</ref>

In July 2015, the company acquired Monsoon, a design studio, development shop, marketing house and strategic consultancy.<ref>{{cite news | last=Perez | first=Sarah | title=Capital One Acquires Oakland-Based Design And Development Firm Monsoon | url=https://techcrunch.com/2015/07/08/capital-one-acquires-oakland-based-design-and-development-firm-monsoon | work=TechCrunch | date=July 8, 2015}}</ref>

In 2015, Capital One acquired General Electric's Healthcare Financial Services unit, which included $8.5 billion in loans made to businesses in the healthcare industry, for $9 billion.<ref>{{cite press release | url=https://www.prnewswire.com/news-releases/capital-one-completes-acquisition-of-ge-capitals-healthcare-financial-services-lending-business-300186295.html | title=Capital One Completes Acquisition of GE Capital's Healthcare Financial Services Lending Business | publisher=PR Newswire | date=December 1, 2015}}</ref>

In October 2016, Capital One acquired Paribus, a price tracking service, for an undisclosed amount.<ref>{{cite news | url=https://techcrunch.com/2016/10/06/capital-one-acquires-online-price-tracker-paribus/ | title=Capital One acquires online price tracker Paribus | first=Sarah | last=Perez | work=TechCrunch | date=October 6, 2016}}</ref><ref>{{cite news | url=https://www.americanbanker.com/news/capital-one-adds-to-its-growing-list-of-fintech-deals | title=Capital One Adds to Its Growing List of Fintech Deals | first=Bryan | last=Yurcan | work=American Banker | date=October 12, 2016}}</ref>

The company exited the mortgage origination business in November 2017 due to competition, laying off 1,100 employees.<ref>{{cite web | url=https://www.housingwire.com/articles/41759-capital-one-suddenly-exits-mortgage-and-home-equity-business | title=Capital One suddenly exits mortgage and home equity business | first=Kelsey | last=Ramirez | work=HousingWire.com | date=November 16, 2017}}</ref><ref>{{cite news | url=https://www.bloomberg.com/news/articles/2017-11-07/capital-one-exits-mortgage-origination-business-cuts-1-100-jobs | title=Capital One Exits Mortgage Origination Business, Cuts 1,100 Jobs | first=Jennifer | last=Surane | work=Bloomberg L.P. | date=November 7, 2017}}</ref>

In January 2018, Capital One sold its online brokerage with more than 1 million brokerage accounts to E-Trade for $170 million.<ref>{{Cite news | url=https://www.bloomberg.com/news/articles/2018-01-25/capital-one-jettisons-online-brokerage-accounts-in-e-trade-deal | title=Capital One Jettisons Online Brokerage Accounts in E*Trade Deal| first=Jenny | last=Surane | work=Bloomberg News | date=January 25, 2018 | url-access=subscription}}</ref>

In May 2018, the company acquired Confyrm, a digital identity and fraud alert service.<ref>{{cite news | url=https://techcrunch.com/2018/05/11/capital-one-acquires-digital-identity-and-fraud-alert-startup-confyrm/ | title=Capital One acquires digital identity and fraud alert startup Confyrm | first=Sarah | last=Perez | work=TechCrunch | date=May 11, 2018}}</ref><ref>{{cite news | url=https://medium.com/capitalonetech/confyrm-joins-capital-one-to-fuel-consumer-identity-services-at-scale-29307910cc2b | title=Confyrm Joins Capital One to Fuel Consumer Identity Services at Scale | first=Andrew | last=Nash | work=Medium | date=May 11, 2018}}</ref><ref>{{cite news | url=https://www.americanbanker.com/news/capital-one-boosts-its-digital-identity-platform-with-fintech-purchase | title=How Capital One sees digital identity as a business opportunity | first=Nathan | last=DiCamillo | work=American Banker | date=May 30, 2018}}</ref>

In July 2018, Capital One sold its full-service investment advisory and brokerage division to Woodbury Financial.<ref>{{Cite press release | url=https://www.prnewswire.com/news-releases/woodbury-closes-acquisition-of-capital-ones-full-service-financial-advisor-business-300681993.html | title=Woodbury Closes Acquisition of Capital One's Full-Service Financial Advisor Business | publisher=PR Newswire | date=July 17, 2018}}</ref>

In November 2018, Capital One acquired Wikibuy, a shopping comparison app and browser extension from an Austin, Texas start-up business and renamed it Capital One Shopping.<ref>{{cite news | url=https://www.cnbc.com/2018/11/20/capital-one-buys-startup-used-to-price-check-while-shopping-on-amazon.html | title=Capital One buys tech start-up used by millions to price-check while shopping on Amazon |last=Son | first=Hugh | work=CNBC |date=November 20, 2018}}</ref>

In June 2019, Capital One acquired BlueTarp Financial, a business-to-business credit services provider.<ref>{{Cite news | url=https://www.pressherald.com/2019/06/21/capital-one-to-acquire-portland-credit-services-provider-bluetarp-financial/ | title=Capital One to acquire Portland credit services provider BlueTarp Financial | first=J. Craig | last=Anderson | work=Portland Press Herald | date=June 21, 2019}}</ref><ref>{{Cite news | url=https://www.bangordailynews.com/2019/06/21/news/capital-one-buys-maine-credit-management-company/ | title=Capital One buys Maine credit management company | first=Lori | last=Valigra | work=Bangor Daily News | date=June 21, 2019}}</ref>

In July 2019, Capital One signed a deal with Walmart to handle Walmart's private label and co-branded credit card programs that was previously serviced by Synchrony Financial.<ref>{{cite press release | url=https://corporate.walmart.com/newsroom/2018/07/26/walmart-and-capital-one-sign-credit-card-program-agreement | title=Walmart and Capital One Sign Credit Card Program Agreement |date=July 26, 2018 |work=Walmart}}</ref> Walmart terminated the deal in April 2024 after customer service failures by Capital One.<ref>{{Cite web | url=https://www.forbes.com/advisor/credit-cards/walmart-ends-credit-card-partnership-with-capital-one/ | last=Hunter |first=Meghan |title=Walmart Ends Credit Card Partnership With Capital One—What It Means For Cardholders |work=Forbes |date=May 30, 2024}}</ref>

In August 2019, Capital One acquired KippsDeSanto, an investment bank focused on government contractors.<ref>{{Cite news | url=https://www.bizjournals.com/washington/news/2019/08/19/capital-one-to-buy-kippsdesanto-co.html | title=Capital One to buy KippsDeSanto & Co. | first=Carten | last=Cordell | work=American City Business Journals | date=August 19, 2019 | url-access=subscription}}</ref><ref>{{Cite news | url=https://www.americanbanker.com/news/capital-one-to-buy-tech-focused-investment-bank | title=Capital One to buy tech-focused investment bank | first=Andy | last=Peters | work=American Banker | date=August 19, 2019 | url-access=subscription}}</ref>

In October 2021, Capital One acquired the healthcare investment bank of TripleTree Holdings.<ref>{{Cite news | url=https://www.bizjournals.com/washington/news/2021/10/14/capital-one-to-acquire-tripletree-edina-bank.html | title=Capital One to acquire health care investment bank | first=Carter | last=Jones | work=American City Business Journals | date=October 14, 2021 | url-access=subscription}}</ref><ref>{{Cite news | url=https://www.americanbanker.com/news/capital-one-to-buy-health-care-investment-bank-tripletree | title=Capital One to buy health care investment bank TripleTree | first=Polo | last=Rocha | work=American Banker | date=October 15, 2021 | url-access=subscription}}</ref>

{{anchor|Venture X}} In November 2021, the company introduced Venture X, an incentive program credit card, with a $395 annual fee.<ref>{{cite news| title=Capital One Venture X Card 2021 Review | url=https://www.forbes.com/advisor/credit-cards/reviews/venture-x-card/ | first=Dia | last=Adams | work=Forbes | date=November 10, 2021 | url-access=limited}}</ref>

In March 2022, Capital One announced a partnership with Vivid Seats to launch Capital One Entertainment, a rewards programs for cardholders.<ref>{{cite news |url=https://www.pymnts.com/partnerships/2022/vivid-seats-capital-one-partner-on-ticket-portal/ |title=Vivid Seats, Capital One Partner on Ticket Portal | work=PYMNTS.com |date=March 30, 2022}}</ref>

{{Infobox acquisition | name = Acquisition of Discover Financial by Capital One | logo = Capital One logo.svg | logo2 = Discover Card logo.svg | initiator = Capital One | target = Discover Financial | type = Full acquisition | cost = {{US$|35&nbsp;billion|link=yes}} | initiated = February 19, 2024 | completed = May 18, 2025 | entity = }} In February 2024, Capital One agreed to acquire Discover Financial in an all-stock deal worth $35.3&nbsp;billion, making it the largest credit card issuer in the U.S.<ref>{{Cite news |url=https://www.cnbc.com/2024/02/19/capital-one-acquiring-discover-financial-services-report-says.html |title=Capital One to acquire Discover Financial Services in $35.3 billion all-stock deal | work=CNBC |last1=Kim |first1=Hakyung |last2=Wang |first2=Christine |date=February 19, 2024}}</ref><ref>{{Cite news |url=https://www.nytimes.com/2024/02/20/business/capital-one-discover-what-to-know.html |last1=Nerkar |first1=Santul |last2=Flitter |first2=Emily |date=February 20, 2024 |title=What to Know About Capital One's Proposed Acquisition of Discover |work=The New York Times | url-access=limited |issn=0362-4331}}</ref><ref>{{Cite news | last=Son |first=Hugh |title=Jamie Dimon on Capital One's $35.3 billion Discover acquisition: 'Let them compete' | url=https://www.cnbc.com/2024/02/26/jamie-dimon-on-capital-one-discover-deal-let-them-compete.html | work=CNBC |date=February 26, 2024}}</ref> The deal was approved by U.S. banking regulators in April 2025 after an investigation by the Attorney General of New York and a proposed consumer class action lawsuit by customers on anti-trust concerns.<ref name=Scarcella/> The acquisition was completed in May 2025.<ref>{{Cite news | url=https://www.reuters.com/markets/deals/new-york-probing-whether-capital-one-discover-merger-violates-antitrust-law-2024-10-23/ | last=Stempel | first=Jonathan | editor-first1=Richard | editor-last1=Chang | editor-first2=Mark | editor-last2=Porter | title=New York probing legality of Capital One-Discover merger | work=Reuters | date=October 28, 2024}}</ref><ref name=Scarcella>{{Cite news | url=https://www.reuters.com/markets/deals/new-york-probing-whether-capital-one-discover-merger-violates-antitrust-law-2024-10-23/ | last=Scarcella | first=Mike | title=Capital One customers sue to block $35 billion Discover merger | work=Reuters | date=July 23, 2024}}</ref><ref>{{Cite news | url=https://www.reuters.com/business/finance/us-banking-regulators-ok-capital-one-discover-deal-2025-04-18/ | title=Capital One, Discover deal approved by US bank regulators | first1=Chris | last1=Prentice | first2=Saeed | last2=Azhar | editor-first1=Lananh | editor-last1=Nguyen | editor-first2=Franklin | editor-last2=Paul | editor-first3=Matthew | editor-last3=Lewis | work=Reuters | date=April 18, 2025}}</ref><ref>{{Cite press release |title=Capital One Completes Acquisition of Discover | url=https://www.businesswire.com/news/home/20250517147002/en/Capital-One-Completes-Acquisition-of-Discover | publisher=Business Wire | date=May 18, 2025}}</ref>

In November 2025, Capital One acquired Hopper Travel Software, which powered Capital One Travel.<ref>{{Cite news | url=https://skift.com/2025/11/24/capital-one-set-to-acquire-hopper-travel-software-and-hire-key-hotel-and-engineering-staff-scoop/ | title=Capital One Set to Acquire Hopper Travel Software and Hire Key Hotel and Engineering Staff: Scoop | first=Dennis | last=Schaal | work=Skift | date=November 24, 2025}}</ref>

In April 2026, the company acquired Brex for $5.15 billion.<ref>{{Cite news | url=https://www.reuters.com/legal/transactional/capital-one-buy-fintech-firm-brex-515-billion-deal-2026-01-22/ | title=Capital One strikes $5.15 billion Brex deal, quarterly profit rises on interest income boost | first=Pritam | last=Biswas | editor-first=Shreya | editor-last=Biswas | work=Reuters | date=January 22, 2026}}</ref><ref>{{Cite news | url=https://www.forbes.com/sites/jeffkauflin/2026/01/23/why-capital-ones-5-billion-acquisition-of-fintech-brex-could-be-another-masterstroke-for-billionaire-richard-fairbank/ | title=Why Capital One’s $5 Billion Acquisition Of Fintech Brex Could Be Another Masterstroke For Billionaire Richard Fairbank | first=Jeff | last=Kauflin | work=Forbes | date=January 23, 2026}}</ref><ref>{{Cite press release | url=https://www.businesswire.com/news/home/20260122016437/en/Capital-One-to-Acquire-Brex | title=Capital One to Acquire Brex | publisher=Business Wire | date=January 22, 2026}}</ref>

==Television advertisements== Between 2010 and 2013, Alec Baldwin was the spokesperson for Capital One's television ad campaigns.<ref>{{cite news |url=https://www.huffpost.com/entry/alec-baldwin-donates-new-york-philharmonic-capital-one-million-roundabout-theater_n_1644243 |title=Alec Baldwin Donates $1 Million To New York Philharmonic With Profit From Capital One Commercials | work=HuffPost |date=July 2, 2012}}</ref> Following his 2013 confrontation with a videographer reported by TMZ, his contract was not renewed,<ref name="Vulture">{{cite news | last=Baldwin | first=Alec | url=https://www.vulture.com/2014/02/alec-baldwin-good-bye-public-life.html | title=Alec Baldwin: Good-bye, Public Life | work=Vulture | date=February 23, 2014}}</ref> and he was succeeded in the campaign by Jennifer Garner.<ref>{{Cite news | url=https://adage.com/article/media/jennifer-garner-capital/294808/ | title=Jennifer Garner Gets Serious for Capital One (Watch the Newest Ads on TV) | work=Advertising Age | date=September 3, 2014}}</ref>

In 2012, Capital One released an advert featuring British power metal band DragonForce. The advert showed Herman Li and Sam Totman playing guitar on an asteroid while using Capital One's mobile app.<ref>{{Cite news |url=https://www.noise11.com/news/dragonforce-star-in-an-add-for-a-bank-20130116 |last=Cashmere |first=Paul | authorlink=Paul Cashmere |title=Dragonforce Star In A Bank Commerical {{sic|hide=y}} |work=Noise11 |date=January 16, 2013}}</ref><ref>{{Cite news | url=https://metalinsider.net/video/dragonforce-appear-in-capital-one-commercial |last=Shaw |first=Zach |title=Dragonforce Appear In Capital One Commercial | work=Metal Insider | date=December 31, 2012}}</ref><ref>{{Cite news |url=https://blabbermouth.net/news/dragonforce-featured-in-capital-one-commercial |title=DRAGONFORCE Featured In CAPITAL ONE Commercial | work=Blabbermouth.net |date=December 29, 2012}}</ref>

==Sports sponsorships== [[File:Capital one arena.jpg|thumb|Capital One owns the naming rights for the major sports and entertainment arena in Washington, D.C.]] From 2001 to 2014, Capital One was the principal sponsor of the college football Florida Citrus Bowl, which was called the Capital One Bowl from 2003 to 2014. It sponsored a mascot challenge every year, announcing the winner on the day of the Capital One Bowl. The name of the bowl game was changed in 2015 to the Buffalo Wild Wings Citrus Bowl.<ref>{{cite news |url=https://www.espn.com/college-football/story/_/id/11568476/capital-one-bowl-renamed-buffalo-wild-wings-citrus-bowl |title=Capital One Bowl will be renamed | first=Brett | last=McMurphy | work=ESPN | date=September 22, 2014}}</ref>

Capital One is the title sponsor of the Orange Bowl since 2015.<ref>{{Cite news | url=https://www.si.com/college/2014/09/22/capital-one-sponsor-orange-bowl | title=Capital One to sponsor Orange Bowl | work=Sports Illustrated | date=September 22, 2014}}</ref>

Capital One Venture X is the presenting sponsor of the Rose Bowl Game since 2022.<ref>{{Cite press release | url=https://rosebowlgame.com/news/2021/11/23/general-the-108th-rose-bowl-game-on-new-years-day-will-be-presented-by-capital-one-venture-x.aspx | title=The 108th Rose Bowl Game on New Year’s Day will be presented by Capital One Venture X | publisher=Rose Bowl Game | date=November 23, 2021}}</ref>

Capital One has been a major sponsor of the NCAA since 2010.<ref>{{Cite press release | url=https://fs.ncaa.org/Docs/PressArchive/2010/20100317+capital+one+rls.htm | title=Capital One Enhances College Sports Presence with Agreement to Become NCAA(R) Official Corporate Champion | publisher=NCAA | date=March 17, 2010}}</ref><ref>{{Cite news | url=https://www.sportspro.com/news/sponsorship-marketing/capital_one_expands_support_for_college_sport/ | title=Capital One expands support for college sport | first=Michael | last=Long | work=SportsPro | date=June 17, 2011}}</ref><ref>{{Cite news | url=https://www.bizjournals.com/washington/stories/2010/03/15/daily45.html | title=Capital One signs big NCAA sponsorship deal | first=Jeff | last=Clabaugh | work=American City Business Journals | date=March 17, 2010 | url-access=subscription}}</ref> As of 2013, it paid an estimated $35 million annually in exchange for advertising and access to consumer data.<ref>{{cite news | url=http://www.espn.com/blog/playbook/dollars/post/_/id/3111/capital-one-maximizing-marchs-madness |title=Capital One maximizing March's madness | first=Kristi | last=Dosh | work=ESPN | date=November 3, 2013}}</ref>

Capital One also sponsored the EFL Cup, an English soccer knockout tournament, from 2012 to 2016. The company sponsored English soccer clubs Nottingham Forest from 2003 to 2009 and Sheffield United from 2006 to 2008.

From 2009 to 2022, the company owned the naming rights to the field at SECU Stadium (formerly Byrd Stadium), inherited in the bank's acquisition of Chevy Chase Bank.

In August 2017, the company agreed to pay $100 million for a 10-year deal for the naming rights of the Capital One Arena in Washington D.C.<ref>{{cite news | title=Verizon Center to become Capital One Arena, starting now | url=https://www.washingtonpost.com/news/dc-sports-bog/wp/2017/08/09/verizon-center-to-become-capital-one-arena-starting-now/ | first=Dan | last=Steinberg | newspaper=The Washington Post | date=August 9, 2017}}</ref><ref>{{cite news | title=Verizon Center to become Capital One Arena, starting now | url=https://www.bizjournals.com/washington/news/2017/08/09/verizon-center-officially-has-a-new-name-starting.html | first=Andy | last=Medici | work=American City Business Journals | date=August 9, 2017}}</ref><ref>{{Cite news | url=https://www.forbes.com/sites/darrenheitner/2017/08/09/capital-one-to-spend-100-million-over-10-years-in-sports-naming-rights-deal/ | title=Capital One To Spend $100 Million Over 10 Years In Sports Naming Rights Deal | first=Darren | last=Heitner | work=Forbes | date=August 9, 2017 | url-access=limited}}</ref>

To celebrate the Washington Capitals' appearance in the 2018 Stanley Cup Final, the firm temporarily changed its logo by replacing the word "Capital" with the Capitals' titular logo, without the "s" plural.<ref>{{cite news | url=https://wjla.com/sports/washington-capitals/capital-one-changes-website-logo-to-support-the-caps-ahead-of-the-stanley-cup-finals | title=Capital One changes website logo to support Caps ahead of Stanley Cup finals | first=Stephen | last=Pimpo Jr. | work=WJLA-TV | date=May 27, 2018}}</ref><ref>{{cite news | url=https://www.nbcsports.com/washington/capitals/capital-one-bank-just-made-caps-themed-update-its-logo-and-were-here-it | title=Capital One Bank just made a Caps-themed update to its logo and we're here for it | first=Caroline | last=Brandt | work=NBC Sports | date=May 27, 2018}}</ref>

In March 2022, Capital One agreed to pay $125 million over 5 years to become the "official bank and credit card partner" of Major League Baseball and a presenting sponsor for the World Series.<ref>{{cite news |url=https://www.cnbc.com/2022/03/28/mlb-reaches-125-million-sponsorship-deal-with-capital-one.html |last1=Young |first1=Jabari |title=MLB reaches a $125 million sponsorship deal with Capital One | work=CNBC |date=March 28, 2022}}</ref>

==Legal actions== ===Fines for misleading customers to pay extra for services=== In July 2012, Capital One was fined by the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau for misleading millions of its customers, for example by requiring customers to pay extra for payment protection or credit monitoring when they took out a card.<ref>{{cite news | url=https://www.bbc.com/news/business-18893998 | title=Capital One fined for misleading millions of customers | work=BBC News | date=July 18, 2012}}</ref> The company agreed to pay $210 million to settle the legal action and to refund two million customers.<ref>{{cite web | url=http://pdf.secdatabase.com/1492/0001193125-12-305691.pdf | title=Capital One, Form 8-K, Current Report, Filing Date Jul 18, 2012 | publisher=secdatabase.com | date=July 18, 2012}}</ref> This was the CFPB's first public enforcement action.<ref>{{cite news | url=https://hartfordbusiness.com/article/capital-one-to-pay-210-million-in-fines-consumer-refunds/ | title=Capital One to pay $210 million in fines, consumer refunds | work=Hartford Business |date=July 18, 2012}}</ref>

===Automated dialing to customers' phones=== In August 2014, Capital One and three collection agencies entered into an agreement to pay $75.5 million to end a consolidated class action lawsuit pending in the United States District Court for the Northern District of Illinois alleging that the companies used an automated dialer to call customers' cellphones without consent, which is a violation of the Telephone Consumer Protection Act of 1991.<ref>{{Cite web | url=https://privacylaw.proskauer.com/2014/08/articles/tcpa-2/capital-one-to-pay-largest-tcpa-settlement-on-record/ | last=Dale |first=Margaret A. |title=Capital One to Pay Largest TCPA Settlement on Record | work=Proskauer on Privacy |date=August 19, 2014}}</ref><ref>{{cite magazine| last1=Dale | first1=Margaret A. | title=Capital One to Pay Largest TCPA Settlement on Record | magazine=The National Law Review | url=https://www.natlawreview.com/article/capital-one-to-pay-largest-tcpa-settlement-record-0 | publisher=Proskauer Rose | date=August 19, 2014 | issn=2161-3362}}</ref> This legal action involved informational telephone calls, which are not subject to the "prior express written consent" requirements in place for telemarketing calls since October 2013.<ref>{{cite news | last1=Slawe | first1=Meredith C. | last2=Madway | first2=Brynne S. | title=Capital One Agrees to $75 Million Telephone Consumer Protection Act (TCPA) Settlement | url=https://www.natlawreview.com/article/capital-one-agrees-to-75-million-telephone-consumer-protection-act-tcpa-settlement | work=The National Law Review | date=August 11, 2014}}</ref>

===July 2019 data breach=== In July 2019, in one of the largest data breaches of personal information, Capital One found unauthorized access had occurred by an individual who had breached the account and identity security of 106 million people in the United States and Canada.<ref>{{Cite news | url=https://www.cnn.com/2019/07/29/business/capital-one-data-breach | title=A hacker gained access to 100 million Capital One credit card applications and accounts | first=Rob | last=McLean | work=CNN | date=July 30, 2019}}</ref><ref>{{Cite journal |last1=Khan |first1=Shaharyar |last2=Kabanov |first2=Ilya |last3=Hua |first3=Yunke |last4=Madnick |first4=Stuart |date=February 28, 2023 |title=A Systematic Analysis of the Capital One Data Breach: Critical Lessons Learned |url=https://dl.acm.org/doi/10.1145/3546068 |journal=ACM Transactions on Privacy and Security |language=en |volume=26 |issue=1 |pages=1–29 |doi=10.1145/3546068 |issn=2471-2566 |hdl=1721.1/146397 |hdl-access=free }}</ref>

The FBI arrested Paige Thompson, who had previously worked as a software engineer for Amazon Web Services, a cloud computing hosting company used by Capital One. Thompson had accessed about 140,000 Social Security numbers, a million Canadian Social insurance numbers; 80,000 bank account numbers, and an unknown number of names and addresses of customers. Capital One began offering free credit report monitoring services and identity theft protection to those affected by the breach.<ref>{{Cite news |url=https://www.nbcnews.com/business/consumer/how-protect-yourself-after-capital-one-data-breach-n1036076 |last=Newcomb |first=Alyssa |title=How to protect yourself after the Capital One data breach | work=NBC News |date=July 30, 2019}}</ref><ref>{{Cite news |url=https://consumer.ftc.gov/consumer-alerts/2019/07/capital-one-data-breach-time-check-your-credit-report |last=Gressin |first=Seena |title=The Capital One data breach: Time to check your credit report | publisher=Federal Trade Commission |date=July 30, 2019}}</ref><ref>{{Cite news |title=A hacker gained access to 100 million Capital One credit card applications and accounts | url=https://www.cnn.com/2019/07/29/business/capital-one-data-breach/index.html |first=Rob | last=McLean | work=CNN |date=July 30, 2019}}</ref><ref>{{cite news | url=https://www.washingtonpost.com/national-security/capital-one-data-breach-compromises-tens-of-millions-of-credit-card-applications-fbi-says/2019/07/29/72114cc2-b243-11e9-8f6c-7828e68cb15f_story.html |last1=Barrett | first1=Devlin | title=Capital One says data breach affected 100 million credit card applications |newspaper=The Washington Post | date=July 29, 2019}}</ref> It was ultimately determined there was no evidence the data was shared by Thompson.<ref name=TimeServed/>

Amazon stated that the security vulnerability used to access the Capital One records could have been discovered by anyone, the information that facilitated her activity was not gained from work at Amazon, and that she gained access via "a misconfiguration of the (Capital One-designed) web application and not the underlying (Amazon-designed) cloud-based infrastructure".<ref>{{Cite news |title=Paige Thompson: What we know about accused Capital One breach hacker |url=https://www.cbsnews.com/news/paige-thompson-what-we-know-about-accused-capital-one-breach-hacker-2019-07-31/ |work=CBS News |date=July 31, 2019}}</ref>

In 2022, Thompson was convicted of five felonies and two misdemeanors. She was sentenced to time served and five years of probation.<ref name=TimeServed>{{Cite web | url=https://www.bankinfosecurity.com/prewrite-do-publish-capital-one-hacker-receives-tk-years-sentence-a-20189 | last=Perera |first=David |title=Capital One Hacker Paige Thompson Sentenced to Time Served |work=Bank Info Security |date=October 4, 2022}}</ref><ref>{{Cite news |url=https://cyberscoop.com/court-reimposes-original-sentence-for-capital-one-hacker/ |last=Otto |first=Greg |title=Court reimposes original sentence for Capital One hacker | work=CyberScoop |date=November 5, 2025}}</ref>

Capital One was alerted to the breach on July 17, 2019, 12 days before it was publicly acknowledged. Several Capital One customers stated that the first time they heard about the hack was through the media and the bank did not disclose the breach or explain its implications to affected customers.<ref>{{Cite news |url=https://slate.com/technology/2019/07/capital-one-hack-no-customer-notification.html |title=Capital One Took Nearly Two Weeks to Disclose Its Hack and Customers Still Don't Know if They Were Affected | last=Glaser | first=April | work=Slate |date=July 31, 2019}}</ref> On social media and in the mainstream press, Capital One's contradictory July 2019 press statement was mocked for saying "No bank account numbers or Social Security numbers were compromised," but then listing hundreds of thousands of bank account numbers and Social Security numbers that were compromised.<ref>{{Cite news |url=https://www.businessinsider.com/capital-one-hack-press-release-slammed-on-social-media-2019-7 |title=Capital One was hacked and people on social media are slamming the bank's response |last=Villas-Boas |first=Antonio |work=Business Insider | date=July 30, 2019}}</ref><ref>{{Cite web |url=https://www.forbes.com/sites/ajdellinger/2019/07/30/capital-one-hit-with-class-action-lawsuit-following-massive-data-breach/ |title=Capital One Hit With Class-Action Lawsuit Following Massive Data Breach |last=Dellinger |first=A. J. |work=Forbes | date=July 30, 2019 | url-access=limited}}</ref><ref>{{Cite news |url=https://www.bankinfosecurity.com/capital-one-hacker-paige-thompson-sentenced-to-time-served-a-20189 |last=Perera |first=David |title=Capital One Hacker Paige Thompson Sentenced to Time Served |work=Bank Info Security |date=October 4, 2022}}</ref>

In August 2020, the Federal Reserve Board of Governors announced a cease and desist order against Capital One resulting from the data breach.<ref>{{cite press release | url=https://www.federalreserve.gov/newsevents/pressreleases/files/enf20200806a1.pdf | title=United States of America Before the Board of Governors of the Federal Reserve System | publisher=Federal Reserve Board | date=August 6, 2020}}</ref> The order mandated, among other things, significant improvements in Capital One's governance, risk management and compliance (GRC) practices. The Federal Reserve ended the enforcement action in 2023.<ref name=Fed>{{cite news |url=https://www.bankingdive.com/news/fed-terminates-capital-one-2020-enforcement-action-data-breach-aws-paige-thompson-occ-106-million/686725/ |last=Ennis |first=Dan |title=Fed ends Capital One breach-related enforcement action | work=Industry Dive |date=July 12, 2023}}</ref>

Lawsuits were filed against Capital One and its employees in federal and circuit courts.<ref>{{Cite web |url=https://topclassactions.com/lawsuit-settlements/privacy/data-breach/911181-capital-one-class-action-filed-over-data-breach/ |title=Capital One Class Action Filed Over Data Breach |website=Top Class Actions |date=August 1, 2019}}</ref><ref>{{Cite web |url=https://www.colson.com/colson-hicks-eidson-files-class-action-lawsuit-against-capital-one-for-negligence-in-massive-data-breach/ |title=Colson Hicks Eidson Files Class Action Lawsuit Against Capital One For Negligence In Massive Data Breach |website=Colson Hicks Eidson | date=August 16, 2019}}</ref><ref>{{Cite web |url=https://www.fdazar.com/practice-areas/class-action/capital-one-data-breach/ |title=CAPITAL ONE (DATA BREACH) |website=Franklin D. Azar}}</ref>

===Understatement of losses=== The U.S. Securities and Exchange Commission alleged that Capital One understated auto loan losses during the 2008 financial crisis. In 2013, Capital One paid $3.5 million to settle the case, but was not required to directly address the allegations of wrongdoing.<ref>{{cite news | url=https://dealbook.nytimes.com/2013/04/24/capital-one-settles-accusations-it-understated-loan-losses/ | title=DEALBOOK; Capital One Settles Charges It Understated Loan Losses | first=Ben | last=Protess | work=The New York Times | date=April 25, 2013}}</ref>

===Bank fraud, money laundering, and possible racketeering=== In 2018, Capital One was fined $100 million by the Office of the Comptroller of the Currency for failure to monitor, detect, and prevent money laundering. The bank allegedly failed to file suspicious activity reports, had deficiencies in its risk assessment, remote deposit capture, and generally had weaknesses that compromised national bank security controls. The bank was the subject of a larger investigation that alleged funds were siphoned out of US jurisdiction to safe havens.<ref>{{Cite press release | url=https://www.occ.treas.gov/news-issuances/news-releases/2018/nr-occ-2018-112.html |title=OCC Assesses $100 Million Civil Money Penalty Against Capital One | publisher=Office of the Comptroller of the Currency | date=October 23, 2018}}</ref><ref>{{Cite news |url=https://www.reuters.com/article/us-capital-one-bank-moneylaundering-idUSKCN1MX2LN/ | title=Capital One Bank fined $100 million over money-laundering controls | first1=Patrick | last1=Rucker | first2=Katanga | last2=Johnson | editor-first1=Jonathan | editor-last1=Oatis | editor-first2=Cynthia | editor-last2=Osterman | work=Reuters |date=October 23, 2018}}</ref>

In January 2021, Capital One was fined $390 million by FINCEN for anti-money laundering control failure concerning a now-defunct small portfolio of check-cashing businesses that Capital One acquired around 2008 and sold in 2014. Capital One later admitted that it failed to file thousands of suspicious activity reports and lapsed on filing currency transaction reports on around 50,000 reportable cash transactions valued around $16 billion.<ref>{{Cite press release |title=FinCEN Announces $390,000,000 Enforcement Action Against Capital One, National Association for Violations of the Bank Secrecy Act |url=https://www.fincen.gov/news/news-releases/fincen-announces-390000000-enforcement-action-against-capital-one-national | work=FINCEN | date=January 15, 2021}}</ref>

===Alleged misleading interest rates on savings accounts=== In July 2023, a lawsuit claimed that, since February 2013, the company unfairly began offering a savings account with higher yield but didn’t tell legacy customers.<ref>{{Cite news | url=https://www.bankingdive.com/news/capital-one-possible-cfpb-enforcement-action-savings/731765/ | title=Capital One warns of possible CFPB enforcement action | last=Mullen | first=Caitlin | work=Industry Dive | date=November 1, 2024}}</ref><ref>{{Cite news | url=https://www.wsj.com/finance/investing/capital-one-high-interest-savings-complaints-b9adc1e9 | title=They Thought Their Money Was in High-Interest Accounts—They Got Paid Peanuts | first=Rachel Louise | last=Ensign | work=The Wall Street Journal | date=January 21, 2024 | url-access=subscription}}</ref>

In January 2025, the Consumer Financial Protection Bureau sued Capital One for cheating savings account holders out of $2 billion by "deceptive, abusive and illegal" practices which obscured the difference between the high-interest "360 Performance Savings" accounts vs. low-interest "360 Savings" accounts; however, the following month, after Donald Trump became president of the United States, the suit was dropped.<ref>{{cite news |url=https://www.nytimes.com/2025/01/14/business/capital-one-cfpb-lawsuit.html |title=Capital One Is Accused of Cheating Customers Out of $2 Billion |newspaper=The New York Times | first=Rob | last=Copeland |date=January 14, 2025 | url-access=limited}}</ref><ref>{{Cite news |url=https://www.npr.org/2025/02/27/nx-s1-5311561/cfpb-confirmation-mckernan-lawsuits-capital-one |last=Wamsley |first=Laurel |title=The CFPB drops its lawsuit against Capital One, marking a major reversal |work=NPR |date=February 27, 2025}}</ref>

The State of New York filed a similar lawsuit against Capital One in May 2025 on behalf of depositors promised "one of the country's highest interest rates" on their "360 Savings" accounts; however, they were only paid an annual interest rate of 0.30%; the higher rates were paid on the similarly-named "360 Performance Savings" accounts.<ref>{{cite news | url=https://www.reuters.com/business/finance/new-york-sues-capital-one-cheating-savings-depositors-2025-05-14/ | title=New York sues Capital One for cheating savings depositors | last=Stempel | first=Jonathan | work=Reuters | date=May 14, 2025}}</ref> The company agreed to a $425 million settlement, which was approved by a judge in April 2026.<ref>{{Cite news | url=https://www.usatoday.com/story/money/2026/04/23/capital-one-425m-settlement-approved-who-qualifies/89748093007/ | title=Capital One $425M settlement approved. See if you qualify | first=Melina | last=Khan | work=USA TODAY | date=April 23, 2026}}</ref>

==References== {{Reflist}}

==External links== {{Commons category}} * {{Official website}} * {{Official website|https://www.capitalone.ca/}} (Canada) * {{Official website|http://www.capitalone.co.uk/}} (United Kingdom) {{Finance links | name = Capital One Financial Corporation | google = COF:NYSE | reuters = COF | sec_cik = 927628 | yahoo = COF }}

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Category:Capital One Category:1994 establishments in Virginia Category:1994 initial public offerings Category:American companies established in 1994 Category:Banks based in Virginia Category:Banks established in 1994 Category:Companies based in McLean, Virginia Category:Companies based in Richmond, Virginia Category:Companies listed on the New York Stock Exchange Category:Corporate spin-offs