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Capital One

Capital One $425 million settlement with depositors should be rejected, US states say
Sep 24, 2025

Capital One $425 million settlement with depositors should be rejected, US states say

Eighteen states say Capital One’s $425M settlement cheats savers, letting the bank avoid $2.5B in payouts on high-interest accounts.

President Donald Trump speaks as Commerce Secretary Howard Lutnick listens alongside a poster of the Trump Gold Card in the Oval Office of the White House, Friday, Sept. 19, 2025, in Washington. (AP Photo/Alex Brandon)
Sep 23, 2025

Virginia employers face new costs from Trump’s $100k H-1B visa fee

Trump’s $100K H-1B visa fee sows uncertainty for employers, universities and immigrant advocates, including entities in Virginia.

Banking | Finance 2025: ASBURY, JOHN C.
Sep 2, 2025

Banking | Finance 2025: FAIRBANK, RICHARD

After earning an economics degree and an MBA from Stanford University, Fairbank landed at Virginia’s Signet Bank, where he co-created the business that became Capital One, the Fortune Global 500 credit card giant. Fairbank became CEO in 1994 during Capital One’s initial public offering. In 2024, the bank reported $39.1 billion in revenue, a 6.3% […]

$35B Capital One-Discover merger closes
Jun 29, 2025

$35B Capital One-Discover merger closes

McLean-based Capital One Financial completed its $35.3 billion acquisition of Discover Financial Services in May, finalizing the merger of the credit card giants announced last year. On April 18, Capital One received approval from the Federal Reserve and the Office of the Comptroller of the Currency to purchase Illinois-based Discover. The deal was announced in […]

Federal courthouse photo by AdobeStock
May 19, 2025

Capital One proposes $425M lawsuit settlement

On Friday, just before closing the $35.3 billion acquisition of Discover Financial Services, Capital One Financial came to settlement terms with customers who were suing the McLean bank. If the agreement is approved by a federal judge, Capital One will pay $425 million to plaintiffs.

Capital One $35B purchase of Discover Financial gets regulatory approvals
May 16, 2025

UPDATE: $35B Capital One-Discover merger closes

McLean-based Capital One Financial is scheduled to close on its $35.3 billion acquisition of Discover Financial Services on Sunday, finalizing the merger of the credit card giants announced last year.

Capital One $35B purchase of Discover Financial gets regulatory approvals
Apr 18, 2025

Capital One $35B purchase of Discover Financial gets regulatory approvals

NEW YORK (AP) — The pending merger between Northern Virginia-based Capital One and Discover Financial services received approval from several regulators Friday, bringing the $35 billion tie-up closer to completion. The Federal Reserve and the Office of the Comptroller of the Currency signed off on the deal, which was first announced in February 2024. The Federal […]

Trump Tower is seen on Fifth Avenue in Manhattan, New York City. (Photo by Jimin Kim / SOPA Images/Sipa USA)(Sipa via AP Images)
Mar 10, 2025

Trump family business sues Capital One for closing accounts in 2021

Just after Capital One escaped a federal watchdog lawsuit that was suddenly dropped last month, it’s back in legal hot water, this time courtesy of President Donald Trump‘s family business. On March 7, multiple entities connected with the Trump Organization sued the McLean-based bank for terminating more than 300 Trump Organization bank accounts following the Jan. […]

A Capital One sign in front of a glass-paneled building
Feb 27, 2025

Federal watchdog reverses course, drops Capital One lawsuit

The Consumer Financial Protection Bureau reversed course Thursday and dropped a federal lawsuit against McLean-headquartered Capital One and its parent company, Capital One Financial, which alleged the companies cheated millions of consumers out of more than $2 billion in interest payments. The U.S. government’s watchdog charged with protecting consumers from financial institutions filed a [...]

Directory of business schools in Virginia
Feb 19, 2025

Capital One, Discover shareholders approve $35.3B acquisition

The proposed $35.3 billion blockbuster acquisition of Discover Financial Services by Capital One Financial has been approved by each company’s shareholders, the credit card giants announced Tuesday. Stockholders representing 85.1% of the total number of outstanding shares of Capital One common stock were in favor of the acquisition at a Tuesday meeting held in McLean. […]

Federal courthouse photo by AdobeStock
Feb 13, 2025

Status of federal agency’s lawsuit against Capital One unclear

A lot has happened since Jan. 20, as the Trump White House employs “shock and awe” tactics at lightning speed. Among the consequences is the shutdown of the Consumer Financial Protection Bureau, a government watchdog over private industry. Specifically, the CFPB‘s pause in work leaves in question a major federal lawsuit against McLean-headquartered Capital One […]

A Capital One sign in front of a glass-paneled building
Jan 14, 2025

CFPB sues Capital One, claiming bank avoided paying $2B in interest

The Consumer Financial Protection Bureau has sued Capital One and its McLean holding company, Capital One Financial, alleging the companies cheated millions of consumers out of more than $2 billion in interest payments, the federal agency announced Tuesday. Capital One, the CFPB alleges, promised customers that its flagship 360 Savings account provided one of the […]

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