Capital One

Credit card lenders clamp down to mitigate coronavirus risk


Since March, issuers have tightened their criteria for opening new accounts and closed millions of existing ones in hopes of avoiding waves of defaults.


Capital One to keep most staff home until at least September


The lender’s offices in the U.S., Canada and the U.K. will remain shut to all non-essential staff at least through the Labor Day holiday on Sept. 7, CEO Richard Fairbank wrote in an internal memo.


How the pandemic has upended banks’ marketing


Many banks are slashing their spending. Others are changing their messaging strategies. And those that banks partner with pro sports teams are stuck in limbo, since it remains unclear when games will resume.


Fitch downgrades seven consumer lenders, including Amex, Capital One


Ally, Synchrony, Discover, Sallie Mae and Navient are the other lenders the ratings firm downgraded, citing the impact that the coronavirus crisis is having on their revenues and profits.


Capital One triples loan-loss provisions on pandemic, oil decline


The company reported a loss of $1.3 billion in the first quarter after setting aside more than $5.4 billion for potential loan losses.


Coronavirus forcing banks to retool summer internships


Reluctant to cancel what have become pipelines for developing talent, banks are delaying start dates or moving programs entirely online.


How the coronavirus crisis is upending auto lending


Closed showrooms, temporary bans on repossessions and a sudden spike in unemployment have dimmed the prospects of a sector that has boomed since the last recession.


Capital One moves summer internships online in coronavirus response


About 1,000 interns were notified of the change this week. They will still receive the pay and housing funds outlined in their original offer letters.


Capital One asks employees to work from home to fight virus


Capital One Financial Corp. requested that its employees work from home if they can, joining other companies in trying to stem the spread of the deadly coronavirus.


JPMorgan hires Capital One’s Haus to lead digital technology


Gill Haus oversaw efforts to transform Capital One from a bank to a software company by upgrading legacy technologies, moving systems to the cloud and experimenting with different ways of using data.