News on Capital One Financial Corporation

Credit card data hints at U.S. consumer rebound

2010-03-16T07:31:23Z

<div><p>NEW YORK (Reuters) - Credit card delinquency rates improved at JPMorgan Chase & Co and a majority of others -- a sign the lenders still face hurdles in the wake of the deep recession.</p><p>The delinquency rates likely received a seasonal boost, but nonetheless signal the card issuers are less likely to have to wri...

Short-term stagnation expected for Capital One (COF)

2010-03-12T19:15:16Z

<div id="subtitle">Stock could find a technical ceiling in the $42 neighborhood</div><div><p>Technically speaking, the shares of Capital One Financial Corp. (NYSE: COF, Stock Forum) have more than quadrupled since flirting with the $8 level a year ago. Since the start of 2010, however, the equity has become somewhat sluggish, advancing less than 1% year-to-date. Nevertheless,...

Capital One CEO receives $6.1 million in 2009

2010-03-08T12:32:47Z

<div id="subtitle">Capital One CEO Richard Fairbank receives $6.1 million in total compensation in 2009</div><div><p>Capital One Financial Corp. awarded its CEO, Richard Fairbank, a compensation package worth $6.1 million in 2009.</p><p>Nearly all of Fairbank's compensation was from restricted stock a...

Capital One to reimburse customers $775,000

2010-02-22T08:32:25Z

<div><p>WASHINGTON (Reuters) - Capital One Financial Corp &lt;COF.N&gt; will reimburse about $775,000 to customers following an agreement with U.S. bank regulators over complaints of credit card account closing practices.</p&am...

U.S. credit card delinquency rates level off

2010-02-22T09:14:09Z

<div><p>NEW YORK (Reuters) - The percentage of Americans falling behind on credit card bills stabilized in January, according to data from five lenders on Tuesday, signaling that U.S. consumer credit woes may be leveling off.</p><p>Credit card company shares rose on the news, which signals the worst for U.S. consumers ...

Capital One credit card defaults rise in January

2010-02-22T09:18:31Z

<div><p>(Reuters) - Capital One Financial Corp's &lt;COF.N&gt; U.S. credit-card defaults rose in January, in a sign that consumers continue to remain under stress, it said in a regulatory filing.</p><p>Capi...

Big Changes Coming for Banks in 2010

2010-02-22T10:25:11Z

<div id="subtitle">'Free checking' likely to be among the casualties</div><div><p>Although the recession may have dealt its worst blows, banks are adjusting to a new environment, one with stricter regulations, fewer opportunities for big risks, and heavy sentiment against them.</p><p>In that light, Mintel Comperemedia, a provider of direct marketing intelligence, is forecasting five major changes for banks in 201...

American Express CEO gets base pay jump

2010-02-22T13:27:37Z

<div><p>NEW YORK (Reuters) - American Express Co &lt;AXP.N&gt; raised Chief Executive Kenneth Chenault's base pay by 60 percent to $2 million for 2010, in the latest instance of Wall Street fi...

Class Action Takes On Capital One’s 'Payment Protection' Plan

2010-02-22T14:21:11Z

<div id="subtitle">Program so riddled with exceptions as to be 'worthless,' California suit claims</div><div><p> A class action suit filed on Friday claims that Capital One’s “payment protection” plan imposes so many restrictions and uses so much red tape as to be “essentially worthless.”&...

American Express, Capital One shares tumble

2010-02-22T16:22:46Z

<div id="subtitle">American Express, Capital One shares drop on concerns about regulation</div><div><p>Shares of American Express and Capital One Financial Corp. tumbled Friday after an analyst noted coming credit card regulations could strain profits for the compan...

American Express, Capital One earnings beat forecasts

2010-02-22T16:53:15Z

<div><p>NEW YORK/CHARLOTTE, North Carolina (Reuters) - American Express Co &lt;AXP.N&gt; and Capital One Financial Corp &lt;COF.N&gt; bo...

Capital One posts profit on higher fees, interest

2010-02-22T16:52:10Z

<div id="subtitle">Credit card issuer Capital One posts profit on higher fees, interest income; Delinquencies dip</div><div><p>Capital One earned $375.6 million in the fourth quarter as income from fees and interest rose while loan-loss provisions fell.</p><p>The company, one of the nation's largest credit card issue...

Credit card charge-offs slip at most U.S. companies

2010-02-22T19:53:54Z

<div><p>NEW YORK (Reuters) - U.S. credit card data for December showed some signs that fewer consumers were falling seriously behind in their payments.</p><p>Four out of six companies reporting credit card activity for December said charge-offs declined in the month.</p><p>Delinquency rates,...

Capital One settles litigation over card disputes

2010-02-23T14:28:58Z

<div id="subtitle">Capital One the latest bank to tentatively settle lawsuit over credit card arbitration</div><div><p>Capital One Financial Corp. will drop language from credit card contracts that requires customer disputes to be handled through binding arbitration rather than the courts, a spokeswoman for the bank said Thursday.</p&...

Credit card chargeoffs rise in November

2010-02-23T15:53:13Z

<div><p>NEW YORK (Reuters) - Most U.S. credit card companies reported charge-offs rose in November after two months of declines in a sign that consumers remain under stress, sending shares down industrywide.</p><p>In a regulatory filing on Tuesday, JPMorgan Chase warrants</div><div><p>The Treasury Department has received $936.1 million in the sale of warrants it had received from JPMorgan Chase &amp; Co. as part of the support it pr...

Treasury gets $146.5M for Capital One warrants

2010-02-23T20:51:45Z

<div id="subtitle">Treasury gets $146.5 million for Capital One warrants in first bailout fund auction</div><div><p>The Treasury Department said Friday it received $146.5 million for the warrants of Capital One Financial Corp. in the first auction of t...

Treasury will auction off Capital One warrants

2010-02-23T22:35:08Z

<div id="subtitle">Treasury schedules auction of nearly 12.7 million Capital One warrants for Thursday</div><div><p>The Treasury Department said Tuesday it will begin auctioning warrants of Capital One Financial Corp., marking the latest government eff...

U.S. credit card defaults fall, but delinquencies up

2010-02-24T04:53:28Z

<div><p>NEW YORK (Reuters) - U.S. credit card companies said defaults fell more than expected in October, but delinquencies mostly rose in a sign that consumers remain under stress and the sector can expect more pain ahead.</p><p>The drop in defaults reflected a decline in late payments earlier this year thanks to tax ...

Capital One shares jump on 3Q profit

2010-02-24T15:10:07Z

<div id="subtitle">Capital One shares surge as analysts raise estimates after bigger-than-expected 3rd-qtr profit</div><div><p>Shares of Capital One Financial Corp. surged Friday after analysts raised profit expectations following the credit card issuer's third-quarter earnings, which easily beat