Investing
"Capital One’s conversion of credit card volumes to Discover is expected to be significantly smaller than the over $100 billion initially suggested when the deal was announced, according to Bernstein analysts. The company converted approximately $70 billion in debit card volumes from Mastercard to Discover earlier this year. At the time of the deal announcement, Capital One indicated it would migrate $175 billion in total volumes to Discover Card by 2027, with roughly $70 billion from debit and over $100 billion from credit."
The Motley Fool
"Capital One is best known for issuing credit cards. However, it demonstrated that it had wider aspirations when it bought Discover. Although the merger is complete, the integration process is still a work in progress. July 27 will be a big date to watch, since that's when some Discover products will start being integrated into Capital One's back end. While Discover cards will still exist in name, that is when they will start being supported by the Capital One back end."
Yahoo Finance
"Capital One Software, the enterprise B2B software business of Capital One, announced Databolt Connect, a purpose-built, lightweight application that facilitates secure, multi-party data collaboration in Databricks. Available in the Databricks Marketplace, an open marketplace for data, analytics, and AI, powered by OpenSharing, Databolt Connect provides privacy-preserving linking of sensitive datasets to enable groundbreaking research and analytics."
Yahoo Finance
"A judge approved a $425 million settlement in a class action lawsuit against Capital One, with payouts going to eligible Capital One customers. The lawsuit stems from interest rates that Capital One paid to savings account customers. Capital One originally offered a 360 Savings Account before introducing the 360 Performance Savings Account, a high-yield savings account, in 2019. The account holders said Capital One continually paid a higher return on the 360 Performance Savings than on the 360 Savings, though the accounts were the same."
Capital One
"Capital One Financial Corporation announced that it has completed its acquisition of Brex in a combination of stock and cash transaction. Brex is a modern, AI-native software platform offering intelligent finance solutions that enable businesses to issue corporate cards, automate expense management and make secure, real-time payments. The company also leverages AI agents to help customers automate complex workflows to reduce manual review and control spend."
Capital One
"Capital One announced a strategic evolution of its travel business and award-winning travel portal, as well as the launch of the Capital One Travel App. Capital One is taking a step forward in its goal to build a fully integrated travel franchise, bringing the technology, talent, and supplier relationships underpinning Capital One Travel in-house. The Capital One Travel App is the ultimate expression of this evolution—a unified ecosystem that leverages award-winning technology to help cardholders travel smarter and with greater confidence."
Yahoo Finance
"For Capital One, the combination of Discover and Brex turns what used to be a credit card centric lender into a much broader payments and software platform. Discover brings a proprietary card network and a larger consumer footprint, while Brex adds corporate liability cards, expense management tools, and integrated business payment solutions. Taken together, that pushes Capital One closer to the model you see at players like American Express, JPMorgan Chase, and to some extent fintechs that combine cards with workflow software."
Yahoo Finance
"Capital One Financial has finalized a class action settlement involving holders of its 360 Savings accounts. The agreement establishes a US$425 million settlement fund for eligible customers dating back to 2019. Capital One will equalize interest rates on legacy 360 Savings accounts and its 360 Performance Savings product going forward."
The Street
"In a statement made to TheStreet, a Capital One company spokesperson confirmed that the company had “started” originating select credit cards on the Discover Network. The word “originating” is the key word here; it implies that new customers will receive a Venture, Savor, Quicksilver, VentureOne, SavorOne, or Quicksilver Discover card. However, existing cardholders likely won’t be affected until their card expires, at which point the expiring cards might replace their old Visa or Mastercard-issued one."
Capital One
"Capital One Financial Corporation announced that it has entered into a definitive agreement to acquire Brex, in a combination of stock and cash transaction valued at $5.15 billion. Brex is a modern, AI-native software platform offering intelligent finance solutions that make it easy for businesses to issue corporate cards, automate expense management and make secure, real-time payments. The company also leverages AI agents to help customers automate complex workflows to reduce manual review and control spend."
U.S. News
"Capital One has agreed to amended $425 million settlement that would result in more compensation for affected 360 Savings customers. The settlement would resolve a lawsuit accusing Capital One of creating two similarly named savings accounts – 360 Savings and 360 Performance Savings – that paid substantially different interest rates and leaving customers in the dark about which account they held. Plaintiffs said the resulting confusion caused customers to lose millions in potential interest."
Pulse Network
"The 2025 PULSE Debit Issuer Study is the 20th edition of the annual report on debit use and issuer performance. Over the last two decades, the debit market has expanded as issuers adapted and evolved to meet consumer demands and regulatory requirements. The 2025 report shows steady progress in debit."
The Street
"In May, Capital One closed its $35.5 billion acquisition of Discover Financial Services. Not even three months later, it's making a big change in support of its big buy, starting with debit cards. On Wednesday, Capital One announced that it would transition its Capital One debit cards from Mastercard to Discover. The change will mean that checking account customers will receive a new card, with fresh card digits, CVV codes and expiry dates. Their account number and PIN code will stay the same."
Capital One
"Fraud is one of the biggest challenges in automotive retail today—and it’s accelerating. Capital One Auto has launched ProtectID, a new fraud prevention solution designed to help dealers spot potential risk in real time and take action before a deal moves to funding.ProtectID is fully embedded in Dealer Navigator, Capital One’s dealer-facing platform, and works automatically when an application is submitted."
Business Wire
"Capital One Financial Corporation announced that it has completed its acquisition of Discover Financial Services. “This deal brings together two innovative, mission-driven companies that together are poised to deliver breakthrough products and experiences to consumers, businesses, and merchants,” said Richard D. Fairbank, Founder and CEO of Capital One."
NVIDIA
"Financial services has long been at the forefront of adopting technological innovations. Capital One’s strategy centers on a “test, iterate, refine” approach that balances innovation with rigorous risk management. The company’s first agentic AI deployment is a chat concierge that helps customers navigate the car-buying process, such as by scheduling test drives."
Reuters
"Capital One Financial Corp got the greenlight from the Justice Department for its proposed $35 billion acquisition of Discover Financial Services, the New York Times reported. The approval came after the DOJ told other regulators looking into the acquisition that it does not see sufficient competition concerns to block the deal, the report said. The Office of the Comptroller of the Currency (OCC) and the Federal Reserve will review the merger with input from the DOJ."
Auto Finance News
"Capital One is employing autonomous agentic AI at dealerships to make it easier for car buyers to receive information, schedule test drives and compare vehicles online. The bank is rolling out Chat Concierge, an agentic AI tool that answers customers’ questions and can help consumers schedule test drives, compare available cars and explore financing options"
Business Wire
"Capital One Financial Corporation and Discover Financial Services announced that each company’s respective stockholders have voted to approve Capital One’s previously announced acquisition of Discover at each company’s Special Meeting of Stockholders."
Discover
"Capital One (NYSE: COF) announced that it received approval from the Office of the Delaware State Bank Commissioner on December 18, 2024, to complete its previously announced acquisition of Discover Financial Services and its subsidiary bank, Discover Bank, which is a Delaware-chartered bank. Both companies have long-standing commitments to Delaware and to the region, and this approval represents an important step toward the completion of the merger."
Worldpay
"Worldpay® and Capital One have joined forces in a new collaboration to optimize payment fraud decisioning and enhance payment security and efficiency with a data sharing agreement. Merchants enrolled in Worldpay’s flagship fraud detection and prevention solution, FraudSight™, will automatically receive the benefits when accepting a payment made using a card issued by Capital One."
FDE
"Capital One Financial has introduced its authentication technology, dubbed AirKey, to help financial institutions bolster their fraud prevention strategies. Developed over seven years by Capital One, AirKey transforms credit and debit cards into a tap-based authentication method providing financial institutions with a secure and convenient tool for to combat fraud."
Reuters
Banking giant Capital One and credit card issuer Discover Financial have been hit with a lawsuit claiming their proposed $35 billion merger would reduce competition, drive up prices and should be stopped.
TechCrunch
"The tension between incumbents and fintechs has existed for decades. But every once in a while, the two groups decide to put their competition aside and work together."
PR Newswire
"Capital One Financial Corporation and Walmart Inc. announced that they have ended the agreement that made Capital One the exclusive issuer of Walmart Consumer Credit Cards. In 2019, Capital One and Walmart introduced the Capital One Walmart Rewards Credit Card Program."
Reuters
"Warren Buffett-backed U.S. consumer bank Capital One plans to acquire U.S. credit card issuer Discover Financial Services in an all-stock transaction valued at $35.3 billion to create a global payments giant, the companies said on Monday."
CNBC
"Capital One Financial is set to acquire Discover Financial Services, according to a report from The Wall Street Journal. The deal could be announced Tuesday, the outlet said, citing sources."
VentureBeat
“This summer, after a yearslong journey creating and developing its own data management solutions, Capital One launched a new line of business, Capital One Software, to sell the data management and related software products it had developed to other companies who are looking to transition to the cloud. It represents a culmination of the bank’s efforts to transform itself, its technology, and its organization, as well as a goal to offer what it has learned along the way, and the solutions it has developed and tested, to help other companies achieve the same transformation. VentureBeat spoke with Ravi Raghu, president, Capital One Software, International, business cards and payments, about the story behind how Capital One transformed itself, scaling up its own use of data and cloud computing, and then creating a business to sell its software to third parties.”
PR Newswire
“Melio, a leading B2B payments platform for small businesses, today announced the launch of a fully integrated accounts payable solution with Capital One Business. This strategic partnership will enable Capital One small business cardholders to pay their vendors and suppliers with a card – even if they do not accept credit cards – directly from their Capital One Business account.”
The New York Times
“Argelys Oriach was on his way home from a shopping trip one evening in March when he was robbed at gunpoint. The thief demanded his iPhone and passcode. Mr. Oriach turned them over and fled. The next morning, Mr. Oriach, who lives in Brooklyn, said he discovered that the thief had drained $8,294 from his bank accounts at Capital One, using multiple money transfer apps including Zelle. He contacted Capital One, fully expecting the bank to refund him the stolen cash, as required by federal law. The bank refunded only $250, saying it found no evidence that the rest of the money was stolen. Mr. Oriach was stunned. “I filed a police report, identified the suspect at a precinct and even testified at a grand jury,” he said. “But none of that seems to have helped my case.” After The New York Times asked Capital One about Mr. Oriach’s case, bank representatives said they had determined there was fraud and would repay him. “We reached out to the customer to apologize for any additional stress this matter has caused,” Capital One said in an emailed statement. In recent years, payment apps like Zelle, Venmo and Cash App have become the preferred way for millions of customers to transfer money from one person to another. Last year, people sent $490 billion on Zelle, the country’s most popular payments app, and $230 billion through Venmo, its closest rival.”
