Capital One

Goldman Sachs, Capital One and Wells Fargo have all suffered pitfalls in their merchant partnerships. Payment experts discuss how issuers can keep retailers and consumers onboard.

Berkshire Hathaway trimmed positions in Capital One and Bank of America in the last several months, public filings show.

The overall size of the combined entity is trivial compared to industry behemoths. It is evident the benefits to consumers from the Capital One-Discover merger dramatically exceed the speculated harms that caution against it.

Westpac, Capital One and JPMorgan Chase are offering savings accounts and debit cards to children below 10, using financial literacy to get an edge in building consumer relationships.

The credit card giant increased its allowance for credit losses by more than $800 million following the termination of a partnership with Walmart.

Community and advocacy groups opposed Capital One's proposed acquisition of Discover in a hearing held by federal regulators on Friday.

The credit card company sold its student loan business, which long drew the ire of regulators. It also set aside substantial funds to cover looming regulatory penalties.

The credit card giant says its proposed acquisition of Discover would facilitate a bevy of community development activity and philanthropy. But some public advocacy groups are skeptical.

The bank is working with Adyen and Stripe to improve the transaction information that feeds AI-powered payments crime fighting. Can it convince other firms to join?

The lawsuit settlement clears a hurdle for the credit card company's deal with Capital One, which has vowed to address Discover's compliance shortcomings. A public hearing on the merger is scheduled for July 19.

The retail giant has scrapped its credit card partnership with Capital One, its second public spat in recent years with a partner bank. Analysts say it may be a sign that Walmart wants to launch its own credit card on what it hopes will be a financial super-app.

If Capital One successfully buys Discover Financial Services, it would create an entity with an enormous amount of power. That could lead to abuses of vulnerable consumers.

The decision will turn on whether regulators think the merged company would lessen competition or pose a significant threat to the broader economy if it runs into financial distress.

Capital One, like Discover, is showing signs of greater stress in its loan portfolio. Credit-card write-offs totaled $2.2 billion in the first quarter, a 61% increase from a year earlier.

New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.

Banking regulators and the Department of Justice must decide whether the blockbuster deal raises antitrust concerns. Looming over their analyses are questions about how broadly or narrowly to define the relevant markets.

Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.

The credit card giant says that it is "proactively meeting" with advocacy organizations to gather feedback that would help with the creation of a community benefits plan. The National Community Reinvestment Coalition, which has negotiated 21 such deals since 2016, opposes Capital One's proposed acquisition of Discover.

The blockbuster merger is now in the hands of banking agencies and the Department of Justice, which will have to evaluate its impact on competition.

The lawmakers, led by Sen. Elizabeth Warren, D-Mass., said the deal would further anti-consumer bank consolidation, but also criticized the OCC's proposed changes to the merger process, asking that they be strengthened.