Capital One has completed moving its debit cards to the Discover network and is now testing the migration of its credit cards to the same network. The company reported a 26% year-over-year increase in credit card purchase volume, reaching $253.8 billion, driven by organic growth. While Discover's loan growth remains slow during integration, Capital One expects improvements after full technology integration. The bank continues investing heavily in technology and AI, with credit quality improving as charge-offs and delinquencies declined. The next steps involve evaluating test results before deciding the extent and timing of credit card volume migration to Discover.
The Trump family has refiled a lawsuit against Capital One, alleging the bank closed hundreds of accounts linked to them for political reasons after the January 6, 2021 Capitol attack. The new complaint, submitted by Eric Trump on behalf of The Donal...
Wall Street is preparing for a volatile week with major earnings reports from Big Tech companies like Alphabet and Tesla, which are seen as key tests for the AI-driven market rally. Over 70 S&P 500 companies, including IBM, Intel, and American Expres...
David H. Lerner remains optimistic about the stock market, focusing on aerospace, defense, biotech, AI, and semiconductors like Micron and Nvidia, which he views as undervalued despite recent sector sell-offs. He highlights supportive factors such as...
The Capital One Spark Cash business credit card is offering a limited-time bonus of $1,000 cash back plus a $250 travel credit when you spend $10,000 within the first 3 months. This bonus, combined with the card's unlimited 2% cash back on all purcha...
