Capital One had a major service outage last week that left many without access to their accounts. Now, it also faces a lawsuit from CFPB.
Capital One Financial reported a 60% rise in fourth-quarter profit on Tuesday, as a higher income from interests helped the consumer lender. Consumer spending has remained strong on hopes of a soft landing for the economy and falling interest rates,
Capital One Financial Corp. posted a higher fourth-quarter profit as net interest margins widened and credit-card loans increased.
The bank experienced a “technical issue” with a third-party vendor this week, impacting some account services like deposits and payment processing.
The company said a technical issue with a third-party vendor was to blame for a disruption with deposits and payment processing that stretched into the weekend.
Capital One users were reporting issues with receiving their deposits on Thursday morning, leaving many customers wondering where their money and paychecks are. Complaints on social media were pouring in via the @AskCapitalOne customer service account on X, formerly Twitter.
About 20,000 Trump supporters have gathered at Capital One Arena in Washington Monday afternoon, where Trump and Vice President JD Vance are expected to address the crowd later in the day. Trump is also expected to sign several executive actions at the area during his on-stage appearance.
An outage affecting Capital One customers dragged into its second day Friday, further preventing some customers from accessing deposits, payments and transfers. In an afternoon statement, the bank said it was still restoring systems that had been taken offline due to a technical issue with a third-party vendor.
A “technical issue” of a third-party vendor that Capital One uses is affecting some of the bank’s customers to access deposits and other services.
More customers are making just the minimum payment on credit card balances instead of the full amount each month, said Capital One Chief Executive Richard Fairbanks, during the lender's earnings call.
As officials and dignitaries crowd into the Capitol Rotunda for the inauguration, thousands of Trump supporters have crowded into Washington's Capital One Arena for a watch party.