Capital one credit

What’s on the Capital One Mobile app? All of your accounts, and so much more.

Whether you’re out in the world or feeling right at home, you can manage your money with ease:
• View balances and export statements
• Pay bills and take care of loans
• Check in on your credit with CreditWise
• Activate a credit or debit card when you need it
• Redeem rewards on the go
• Send and receive money with friends and family using Zelle®

With the Capital One Mobile app, you can ...
• Stay informed when you enable alerts and purchase notifications
• See everything that happens on your card with detailed transactions
• Instantly lock your credit or debit card from anywhere
• Get answers from Eno, your Capital One assistant

Download the app for better banking with Capital One.


Internet access is needed to use the mobile app. Check with your Internet service provider for details of specific fees and charges. Service outages may occur. Capital One customers are responsible for regularly checking their account statements. Push, email, and SMS alerts and notifications, including purchase notifications, must be enabled to be received. CreditWise monitoring and alerts may not be available if the information you enter at enrollment does not match the information in your file at one or more consumer reporting agencies or you do not have a file at one or more consumer reporting agencies. Features may not be available to all customers. Actual experiences may differ from those depicted. Additional terms and limitations apply.

© 2021 Capital One Bank (USA), N.A., and Capital One, N.A. Members FDIC. Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license. To read about the Terms of your download, check out the End User License Agreement. https://www.capitalone.com/digital/mobile/android-eula/

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Best Capital One Credit Cards

Best for Walmart

Capital One® Walmart Rewards® Card *

Up to 5% Reward Rate

Earn 5% back on Walmart.com & in the Walmart app, including Grocery Pickup and Delivery; Earn 2% back on restaurantsRead More

Welcome Bonus

5% cash back for the first 12 months

Regular APR

17.99% - 26.99% Variable APR on purchases and balance transfers

Credit Score

Fair (650 - 699)

Why We Picked It

The card offers excellent rewards for those who frequently shop at Walmart, particularly online. With no annual fee, it's a sweet deal to earn up to 5% cash back.

Pros & Cons

• Up to 5% cash back
• 2% cash back at restaurants and travel
• No annual fee or foreign transaction fee
• Applicants with average credit may qualify

• Base reward rate of 1% could be better
• High to very high APR, depending on creditworthiness
• No intro APR offer

Card Details

• Earn 5% cash back in Walmart stores for the first 12 months when you use your Capital One® Walmart Rewards
• 17.99% – 26.99% Variable APR on purchases and balance transfers
• No annual fee
• 5% back on Walmart.com & in the Walmart app, including Grocery Pickup and Delivery
• 2% back on restaurants and travel, and at Walmart Stores, Walmart & Murphy USA Fuel Stations
• 1% back everywhere else Mastercard® is accepted
• Ways to redeem rewards: Use rewards during checkout at Walmart.com, redeem for a purchase, get an account credit, redeem for gift cards from Walmart or other retailers, or redeem for flights, hotels, and car rentals
• $0 fraud liability: If your card is ever lost or stolen, you won’t be responsible for fraudulent purchases
• Capital One Mobile app: Pay your bill, get real-time purchase notifications, lock or unlock your card and more.

Best for dining and entertainment rewards

Savor® Rewards from Capital One® *

Up to 4% Reward Rate

Earn unlimited 4% cash back on dining, entertainment and popular streaming services, 3% cash back at grocery stores and 1%Read More

Welcome Bonus

One-time $300 cash bonus

Regular APR

15.99% - 23.99% Variable

Credit Score

Good/Excellent (700 - 749)

Why We Picked It

The Capital One Savor card is an ideal cash back credit card for those who love to splurge on bars, restaurants and an active social life. It's easy to justify the annual fee and accumulate great rewards with a remarkable 4% cashback rate on dining and entertainment (including popular streaming services), 3% cash back at grocery stores, and 1% cash back on all other purchases.

Pros & Cons

• 4% cash back on eligible categories
• Entertainment is a rare rewards category
• No foreign transaction fees
• Unlimited reward earnings

• Annual fee
• No introductory APR for purchases or balance transfers
• Higher standard APR

Card Details

• Earn a one-time $300 cash bonus once you spend $3,000 on purchases within 3 months from account opening
• Earn unlimited 4% cash back on dining, entertainment and popular streaming services
• Earn unlimited 3% cash back at grocery stores
• Earn unlimited 1% on all other purchases
• No rotating categories or sign-ups needed to earn cash rewards; plus cash back won’t expire for the life of the account and there’s no limit to how much you can earn
• Capital One cardholders get access to premium experiences in dining, entertainment and more

Best for students for dining and entertainment rewards

Capital One SavorOne Student Cash Rewards Credit Card

Up to 3X Reward Rate

Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® andRead More

Regular APR

26.99% (Variable)

Credit Score

Average, Fair, Limited

Pros & Cons

• No annual fee
• No foreign transaction fees
• Excellent cash back rewards

• High APR
• No low introductory APR
• Limited bonus cash back reward categories

Card Details

• Whether you’re at a 4-year university, community college or other higher education institution, this card might be an option for you
• Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), with 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through January 2023
• Enjoy no annual fee, foreign transaction fees, or hidden fees
• You can help build your credit with responsible use of a card like this
• No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won’t expire for the life of the account and there’s no limit to how much you can earn
• Be automatically considered for a higher credit line in as little as 6 months
• $0 fraud liability if your card is ever lost or stolen
• Set up Autopay for your account and your payments will be made automatically every month

Best for home furnishings rewards

Key Rewards Visa *

Up to 5X Reward Rate

5% back online and in stores across seven brands, 4% back at grocery stores and restaurants (excludes fast food) andRead More

Welcome Bonus

10% back across seven brands for the first 30 days from account opening

Regular APR

24.99% variable on purchases and balance transfers

Credit Score

Excellent (750 - 850)

Card Details

• 5% back online and in stores across seven brands, 4% back at grocery stores and restaurants (excludes fast food) and 1% back on everything else
• 10% back across seven brands for the first 30 days from account opening
• 12-month promotional financing on purchases of $750 or more
• No annual fee

Best for travel rewards for businesses

Capital One® Spark® Miles for Business *

2X Reward Rate

Earn unlimited 2X miles on every purchase

Welcome Bonus

50,000 miles

Annual Fee

$0 intro for first year; $95 after that

Regular APR

20.99% (Variable)

Credit Score

Excellent, Good (700 - 749)

Why We Picked It

For busy entrepreneurs, you can't beat the simplicity of earning 2x miles per dollar on all spending, with no limits or categories to manage. That's precisely what this card offers, plus high redemption values for travel rewards and a rich welcome bonus.

Pros & Cons

• Free employee cards
• Earn 2x miles on all purchases with no limits
• No blackout dates or seat restrictions

• Sky-high penalty APR
• High regular APR
• Limited airline partners
• Unfavorable miles transfer rates

Card Details

• Earn a one-time bonus of 50,000 miles – equal to $500 in travel – once you spend $4,500 on purchases within the first 3 months from account opening
• Earn unlimited 2X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won’t expire for the life of the account
• Transfer your miles to 15+ leading travel loyalty programs like JetBlue™, Air Canada, and Emirates™
• Redeem your miles instantly for any travel-related purchases, from flights and hotels to ride-sharing services
• Fly through security with one statement credit for either the $85 TSA Pre✓® application fee or the $100 Global Entry application fee
• $0 intro annual fee for the first year; $95 after that
• Free employee cards which also earn unlimited 2X miles from their purchases

Screenshots

Ratings and Reviews

The developer, Capital One, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy.

Privacy practices may vary, for example, based on the features you use or your age. Learn More

Supports

• 

  Wallet

  Get all of your passes, tickets, cards, and more in one place.

• 

  Family Sharing

  With Family Sharing set up, up to six family members can use this app.

More By This Developer

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Bank holding company headquartered in McLean, Virginia

Capital One Tower in Tysons, Virginia
Type	Public
Traded as
Industry	Financial services
Founded	July 21, 1994; 27 years ago (July 21, 1994) Richmond, Virginia, U.S.
Founder	Richard Fairbank, Nigel Morris
Headquarters	Capital One Tower McLean, Virginia
Areas served	United States, Canada, United Kingdom
Key people	Richard Fairbank (Chairman, President and CEO) Stephen S. Crawford (Head of Finance and Corporate Development) R. Scott Blackley (CFO)
Products	Retail banking, credit cards, loans, savings
Revenue	US$26.033 billion (2020)[1]
Operating income	US$3.203 billion (2020) [1]
Net income	US$2.714 billion (2020) [1]
Total assets	US$421.602 billion (2020) [1]
Total equity	US$60.204 billion (2020) [1]
Number of employees	51,985 (2020) [2]
Subsidiaries	Wikibuy, ShareBuilder, Paribus, United Income, BlueTarp, Adaptive Path, Confyrm, Capital One Securities, Critical Stack, Monsoon Company, Finnoble Solutions, Notch
Capital ratio	11.2% (2018)
Website	www.capitalone.com
Footnotes / references [3]

Capital One Financial Corporation is an American bank holding company specializing in credit cards, auto loans, banking, and savings accounts, headquartered in McLean, Virginia with operations primarily in the United States.^[3] It is on the list of largest banks in the United States and has developed a reputation for being a technology-focused bank.

The bank has 755 branches including 30 café style locations^[4] and 2,000 ATMs. It is ranked 97th on the Fortune 500,^[5] 9th on Fortune's 100 Best Companies to Work For list,^[6] and conducts business in the United States, Canada, and the United Kingdom.^[3] The company helped pioneer the mass marketing of credit cards in the 1990s.^[7] In 2016, it was the 5th largest credit card issuer by purchase volume, after American Express, JPMorgan Chase, Bank of America, and Citigroup.^[8]

With a market share of 5%, Capital One is also the second largest auto finance company in the United States, following Ally Financial.^[9]

The company's three divisions are credit cards, consumer banking and commercial banking. In the fourth quarter of 2018, 75% of the company's revenues were from credit cards, 14% were from consumer banking, and 11% were from commercial banking.^[3] Capital One has consistently ranked as one of the best places to work for, appearing in multiple Glassdoor's Best Places To Work reports.^[10] In 2020, Fortune magazine ranked Capital One at number 24 on their Fortune List of the Top 100 Companies to Work For in 2020 based on an employee survey of satisfaction,^[11] rising to 9 on the 2021 list.^[12]

History[edit]

Richard Fairbank and Nigel Morris founded Capital One in 1988 with the support of Richmond, Virginia-based Signet Bank. Fairbank became the company's CEO on July 27, 1994, after Oakstone Financial was spun off from Signet Financial Corp. Oakstone Financial was later renamed to Capital One in October 1994, and the spin-off was completed in February 1995. The newly formed credit card company was ranked among the top ten credit card issuers in the United States after signing up more than five million customers. Capital One worked as a monoline, deriving all of its revenues from the credit card business. Even as a monoline, it succeeded in the credit card business due to its use of data collection to target personalized offers directly to consumers.^{[citation needed]}

In 1996, Capital One moved from relying on teaser rates to generate new clients to adopting more innovative techniques that would attract more customers to their business model. At the time, it was losing customers to competitors who offered higher ceilings on loan balances and no-annual-fee accounts. The company came up with co-branded, secured, and joint account credit cards. In mid-1996, Capital One received approval from the federal government to set up Capital One FDB. It meant that the company could now retain and lend out deposits on secured cards and even issue automobile installment loans.^{[citation needed]}

Monoline credit card company (1994–2004)[edit]

Capital One retail footprint as of 2010

On July 21, 1994, Richmond, Virginia-based Signet Financial Corp (now part of Wells Fargo) announced the corporate spin-off of its credit card division, OakStone Financial, naming Richard Fairbank as CEO.^[13] Signet renamed the subsidiary Capital One in October 1994.^[14][15]

At that time, Capital One was a monoline bank, meaning that all of its revenue came from a single product, in this case, credit cards.^[16] This strategy is risky in that it can lead to losses during bad times.^[16] Capital One attributed its relative success as a monoline to its use of data collection to build demographic profiles, allowing it to target personalized offers of credit directly to consumers.^[17]

Capital One began operations in Canada in 1996.

Expansion into auto loans (1996–present)[edit]

In 1996, Capital One expanded its business operations to the United Kingdom and Canada. This gave the company access to a large international market for its credit cards. An article appearing in the "Chief Executive" in 1997 noted that the company held $12.6 billion in credit card receivables and served more than nine million customers. The company was listed in the Standard & Poor's 500, and its stock price hit the $100 mark for the first time in 1998.^{[citation needed]}

Throughout its history, Capital One has focused on making acquisitions of monolines in various related sectors. In 2005, the company acquired Louisiana-based Hibernia National Bank for $4.9 billion in cash and stock. It also acquired New York-based North Fork Bank for $13.2 billion in 2006. The acquisition of smaller banks reduced its dependency on the credit business alone. Other companies acquired by Capital One include Netspend for $700 million in 2007, Chevy Chase Bank for $520 in 2009, IDG Direction division for $9 billion in 2011, and General Electric's Healthcare Financial Services Unit for $9 billion in 2015.^{[citation needed]}

During the subprime financial crisis of 2008, Capital One received $3.56 billion in investments from the US Treasury courtesy of the Troubled Asset Relief Program in 2008. The company was forced to close its mortgage division, GreenPoint Mortgage, due to the losses incurred by investors. It paid back $3.67 billion to the US Treasury for the repurchase of the company stock.^{[citation needed]}

CapitalOne Café in Chicago

In July 1998, Capital One acquired auto financing company Summit Acceptance Corporation.^[18]

In 1999, Capital One was looking to expand beyond credit cards. CEO Richard Fairbank announced moves to use Capital One's experience with collecting consumer data to offer loans, insurance, and phone service.^[19][20]

In October 2001, PeopleFirst Finance LLC was acquired by Capital One.^[21]

The companies were combined and re-branded as Capital One Auto Finance Corporation in 2003.^[22]

In late 2002, Capital One and the United States Postal Service proposed a negotiated services agreement (NSA) for bulk discounts in mailing services.^[23] The resulting three-year agreement^[24] was extended in 2006.^[25] In June 2008, however, Capital One filed a complaint^[26] with the USPS regarding the terms of the next agreement,^[27] citing the terms of the NSA of Capital One's competitor, Bank of America. Capital One subsequently withdrew its complaint to the Postal Regulatory Commission following a settlement with the USPS.^[28]

Onyx Acceptance Corporation was acquired by Capital One in January 2005.^[29]

Expansion into retail banking (2005–present)[edit]

While many other monolines were acquired by larger, diverse banks, Capital One expanded into retail banking with a focus on subprime customers.

Capital One acquired New Orleans, Louisiana-based Hibernia National Bank for $4.9 billion in cash and stock in 2005^[30] and acquired Melville, New York-based North Fork Bank for $13.2 billion in cash and stock in 2006,^[31] which reduced its dependency on credit cards from 90% to 55%.^[32]

In 2007, Capital One acquired NetSpend, a marketer of prepaid debit cards, for $700 million.^[33]

During the 2007 subprime mortgage financial crisis, Capital One closed its mortgage platform, GreenPoint Mortgage, due in part to investor pressures.^[34][35][36]

In 2008, Capital One received an investment of $3.56 billion from the United States Treasury as a result of the Troubled Asset Relief Program.^[37][38] On June 17, 2009, Capital One completed the repurchase of the stock the company issued to the U.S. Treasury paying a total of $3.67 billion, resulting in a profit of over $100 million to the U.S. Treasury.^[39]

The U.S. Securities and Exchange Commission criticized Capital One's conduct during the crisis, claiming that they understated auto loan losses during the financial crisis of 2007–2008. In 2013, Capital One paid $3.5 million to settle the case, but was not required to directly address the allegations of wrongdoing.^[40]

In February 2009, Capital One acquired Chevy Chase Bank for $520 million in cash and stock.^{[41][42][43][44]}

In January 2011, Capital One acquired Canada-based Hudson's Bay Company's private credit card portfolio from Synchrony Financial, then known as GE Financial.^[45]

In June 2011, ING Group announced the sale of its ING Direct division to Capital One for $9 billion in cash and stock.^[46] On August 26, 2011, the Federal Reserve Board of Governors announced it would hold public hearings on the Capital One acquisition of ING Direct, and extend to October 12, 2011, the public comment period that had been scheduled to end August 22.^[47] The move came amidst rising scrutiny of the deal on systemic risk, or "Too-Big-to-Fail," performance under the Community Reinvestment Act, and pending legal challenges. A coalition of national civil rights and consumer groups, led by the National Community Reinvestment Coalition, were joined by Rep. Barney Frank to challenge immediate approval of the deal. The groups argued that the acquisition was a test of the Dodd-Frank Wall Street Reform and Consumer Protection Act, under which systemically risky firms must demonstrate a public benefit that outweighs new risk before they are allowed to grow. Kansas City Federal Reserve Bank head Thomas M. Hoenig was also skeptical of the deal.^[48][49] In February 2012, the acquisition was approved by regulators and Capital One completed its acquisition of ING Direct.^[50] Capital One received permission to merge ING into its business in October 2012,^[51] and rebranded ING Direct as Capital One 360 in November 2012.^[52]

In April 2011, Capital One signed a deal with Kohl's to handle Kohl's private label credit card program that was previous serviced by Chase Bank for a seven-year period for an undisclosed amount.^[53] The contract between the two companies was extended in May 2014.^[54]

In August 2011, Capital One reached a deal with HSBC to acquire its U.S. credit card operations.^[55] Capital One paid $31.3 billion in exchange for $28.2 billion in loans and $600 million in other assets. The acquisition was completed in May 2012.^[56] The acquisition also included private issued credit cards for such companies as Saks Fifth Avenue, Neiman Marcus, and Lord & Taylor that were previously handled by HSBC.^[57]

On February 26, 2012, along with several other banks, Capital One announced support for the Isis Mobile Wallet payment system.^[58] However, in September 2013, Capital One dropped support for the venture.^[59]

In 2012, Capital One closed 41 branch locations.^[60]

In 2015, Capital One closed several branch locations to leave 174 operating branches in the D.C. metro area.^[61]

On February 19, 2014, Capital One became a 25% owner in ClearXchange, a Peer-to-peer transaction money transfer service designed to make electronic funds transfers to customers within the same bank and other financial institutions via mobile phone number or email address.^[62] ClearXchange was sold to Early Warning in 2016.^[63]

In January 2015, Capital One acquired Level Money, a budgeting app for consumers.^[64]

On July 8, 2015, the company acquired Monsoon, a design studio, development shop, marketing house and strategic consultancy.^[65]

In 2015, Capital One acquired General Electric's Healthcare Financial Services unit, which included $8.5 billion in loans made to businesses in the healthcare industry, for $9 billion.^[66]

In October 2016, Capital One acquired Paribus, a price tracking service, for an undisclosed amount.^[67][68]

In July 2019, Capital One signed a deal with Walmart to handle Walmart's private label and co-branded credit card programs that was previously serviced by Synchrony Financial.^[69]

Exit from mortgage banking (2006–2007 and 2011–2017)[edit]

In November 2017, President of Financial Services Sanjiv Yajnik announced that the mortgage market was too competitive in the low rate environment to make money in the business.^[70] The company exited the mortgage origination business on November 7, 2017, laying off 1,100 employees.^[71] This was the second closure; the first occurred on August 20, 2007, when GreenPoint Mortgage unit was closed.^[72] GreenPoint had been acquired December 2006 when Capital One paid $13.2 billion to North Fork Bancorp Inc. The re-emergence into the mortgage industry came in 2011 with the purchase of online bank ING Direct USA.^[73]

Other acquisitions[edit]

In May 2018, the company acquired Confyrm, a digital identity and fraud alert service.^[74][75][76]

In November 2018, Capital One acquired Wikibuy, a shopping comparison app and browser extension from an Austin, Texas start-up business; Wikibuy has no connection with Wikipedia/Wikimedia.^[77]

Divisions[edit]

Capital One operates 3 divisions as follows:^[3]

• Credit cards – Capital One issues credit cards in the United States, Canada, and the United Kingdom and is the 3rd largest credit card issuer, after JPMorgan Chase and Citigroup. As of December 31, 2018, Capital One had $107.350 billion in credit card loans outstanding in the United States and $9.011 billion of credit card loans outstanding in Canada and the United Kingdom, with credit cards representing 47.3% of total loans outstanding.^[3]
• Consumer banking – offers banking services, including checking accounts, saving accounts, and money market accounts via its branches and direct bank as well as retail and auto loans. As of December 31, 2018, the company had $2.864 billion in retail loans outstanding and $56.341 billion in car finance loans outstanding, representing 22.9% of total loans outstanding.^[3]
• Commercial banking – As of December 31, 2018, Capital One had $70.333 billion in loans outstanding secured by commercial, multifamily, and industrial properties, representing 28.6% of total loans outstanding.^[3]

Sports marketing[edit]

Since 2001, Capital One has been the principal sponsor of the college football Florida Citrus Bowl, which has been called the Capital One Bowl since 2003.^[78] It sponsors a mascot challenge every year, announcing the winner on the day of the Capital One Bowl. The name of the stadium was changed in 2014 to the Orlando Citrus Bowl and was then changed again to Camping World Stadium in 2016, following a multi-year naming rights sponsorship with Camping World.^[79]

Capital One is one of the top three sponsors of the NCAA, paying an estimated $35 million annually in exchange for advertising and access to consumer data.^[80][81] Capital One also sponsored the EFL Cup, an English Soccer Competition, from 2012 to 2016. The company sponsored Sheffield United F.C. from 2006 to 2008. In 2017, the company became the sponsor of the Capital One Arena in Washington D.C.^[82][83]

In 2018, to celebrate the Washington Capitals' second-ever Stanley Cup Finals appearance, the firm temporarily changed its logo by replacing the word "Capital" with the Capitals' titular logo, without the "s" plural.^[84][85]

Corporate citizenship[edit]

Capital One operates some charitable programs. The accountability organization National Committee for Responsive Philanthropy has been highly critical of Capital One's relatively low rate of giving, stating that "Capital One's philanthropic track record is dismal".^[86] The organization pointed out that Capital One's donations of 0.024% of revenue were much less than the industry median of 0.11% of revenue.^[86] Capital One has disputed the groups figures, saying that "... In 2011 alone, our giving totals are more than 6 times greater ($30 million) than the number given by the NCRP".^[87]

Criticism and legal actions[edit]

[edit]

In July 2012, Capital One was fined by the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau for misleading millions of its customers, such as paying extra for payment protection or credit monitoring when they took out a card.^[88] The company agreed to pay $210 million to settle the legal action and to refund two million customers.^[89] This was the CFPB's first public enforcement action.^[90]

Automated dialing to customers' phones[edit]

In August 2014, Capital One and three collection agencies entered into an agreement to pay $75.5 million to end a consolidated class action lawsuit pending in the United States District Court for the Northern District of Illinois alleging that the companies used an automated dialer to call customers' cellphones without consent, which is a violation of the Telephone Consumer Protection Act of 1991.^[91] It is notable that this legal action involved informational telephone calls, which are not subject to the "prior express written consent" requirements which have been in place for telemarketing calls since October 2013.^[92]

2014 amendment to terms of use to allow personal visits[edit]

In 2014, Capital One amended its terms of use to allow it to "contact you in any manner we choose", including a "personal visit . . . at your home and at your place of employment." It also asserted its right to "modify or suppress caller ID and similar services and identify ourselves on these services in any manner we choose."^[93] The company stated that it would not actually make personal visits to customers except "As a last resort, . . . if it becomes necessary to repossess [a] sports vehicle".^[93] Capital One also attributed its assertion of a right to "spoof" as necessary because "sometimes the number is 'displayed differently' by 'some local phone exchanges,' something that is 'beyond our control'".^[94]

July 2019 security breach[edit]

Capital One publicly acknowledged on July 29, 2019, that they had found unauthorized access had occurred ten days earlier by an individual who had breached the account and identity security of 106 million people in the United States and Canada.^[95] The FBI arrested Paige Thompson, who had previously worked as a software engineer for Amazon Web Services, Capital One's cloud hosting company. Capital One declared that Thompson had accessed about 140,000 Social Security numbers, a million Canadian social insurance numbers; 80,000 bank account numbers, and an unknown number of names and addresses of customers. Capital One began offering free credit monitoring services to those affected by the breach.^[96][97]

Thompson's employment at Amazon appears to have ended in September 2016. Amazon stated that the security vulnerability she used to access Capital One could have been discovered by anyone, the information that facilitated her activity was not gained from work at Amazon, and that she gained access via "a misconfiguration of the (Capital One-designed) web application and not the underlying (Amazon-designed) cloud-based infrastructure".^[98]

Details of the breach[edit]

Forensic analysis^[vague] determined Thompson's actual hacking activity occurred in March 2019, then she posted the information to different outlets over the next three months. In April she posted what came to be known^{[by whom?]} as the "April 21 Files", a trove of leaked data along with instructions on how to access the company's credentials for more data extraction. In July a white-hat alerted Capital One to Thompson's hacking activity. Thompson pleaded not guilty to charges of wire fraud and computer fraud and abuse. During the investigations and subsequent data freeze, millions of Capital One accounts were locked; their owners were unable to process financial transactions, meet payments, or gain access to their financial records.^[99]

Capital One Response[edit]

Critics lambasted the bank's effort to downplay the hack while investigations were ongoing, and described the bank as more concerned about its image than the needs of its clients. Several Capital One customers stated that the first time they heard about the hack was through the media and the bank did not disclose the breach or explain its implications to affected customers.^[100] On social media and in the mainstream press, Capital One's contradictory July 2019 press statement was mocked^[101][102] for saying "No bank account numbers or Social Security numbers were compromised," but then listing hundreds of thousands of bank account numbers and social security numbers that were compromised.

Federal Reserve Action[edit]

On August 6, 2020, the Federal Reserve Board of Governors announced a cease and desist order against Capital One resulting from the breach.^[103] The order mandated, among other things, significant improvements in Capital One's governance, risk management and compliance (GRC) practices.

Lawsuits[edit]

Lawsuits were filed against Capital One and its employees in federal^[104] and circuit courts.^[105]

Additional Lawsuits were filed against both Amazon and GitHub, alleging they were aware of the exploit but did not act to fix or patch the vulnerability^[106]

Government investigations[edit]

Relative to other large banks, Capital One has received fewer sanctions or default judgments against it.^{[citation needed]} But some^[who?] allude this is a result of its close proximity to Washington, D.C. and possible relations with federal regulators.^{[citation needed]} In 2015 the bank disclosed that it was under federal investigation for bank fraud, money laundering, and possible racketeering charges. No further information was given and government investigators would only confirm that it was under scrutiny for "unspecified charges".^[107]

In 2018, Capital One was fined $100 million for failure to monitor, detect, and prevent money laundering.^[108] Charging documents^[109] specified Capital One failed to file suspicious activity reports, had deficiencies in its risk assessment, remote deposit capture and generally had weaknesses that compromised national bank security controls. The bank was the subject of a larger investigation that alleged funds were siphoned out of US jurisdiction to safe havens.

In January 2021 Capital one was fined $390 million by FINCEN for anti-money laundering control failure for a now-defunct, small portfolio of check-cashing businesses that Capital One acquired around 2008 which subsequently exited from in 2014. Capital One later admitted that it failed to file thousands of suspicious activity reports and lapsed on filing currency transaction reports on around 50,000 reportable cash transactions valued around $16 billion.^[110][111]

Notable office buildings[edit]

References[edit]

External links[edit]

Terms & Conditions

By enrolling your eligible Capital One credit card in Shop with Points at Amazon.com, your credit card account will be linked to your Amazon.com account. You authorize and direct Capital One to share information about your Capital One credit card rewards account with Amazon Services LLC and/or its affiliates.

Capital One rewards may be redeemed to pay for all or a portion of eligible purchases at Amazon.com. Capital One will deduct any rewards you redeem from your rewards balance at the time the order is placed.

Redemption values for Capital One rewards may vary and are subject to change by Capital One at any time.

If any of the products related to your original order are returned, subject to Amazon’s returns policy, you will receive a refund of the amount charged to your card first, followed by Capital One rewards points. If a refund of your Capital One rewards points cannot be processed by Capital One for reasons including but not limited to (a) closure of your card account, (b) closure of your rewards account, or (c) conversion of your rewards to a non-reward account, Amazon will issue an Amazon Gift Card to you for an amount equal to the value of the Capital One rewards points used towards your purchase.

In the event your eligible Capital One credit card is linked to an Amazon.com account that is not your own, or you allow others to access your Amazon.com account where you have linked an eligible Capital One credit card, your Capital One rewards balance will be displayed and your rewards will be available for their use.

Additional Capital One service terms may apply.