The financial world is bracing itself with the news of Capital One’s ($COF) $35.3 billion all-stock acquisition of Discover Financial Services
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.
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.
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.
Capital One Financial Corp. posted a higher fourth-quarter profit as net interest margins widened and credit-card loans increased.
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Capital One Financial shares gained 57% over past year, driven by strong Q4 results and hopes for easier regulatory approval. See why I maintain a hold on COF.
Thousands of Capital One users are still reporting issues of the financial corporation being down, impacting direct deposit and other services.
CEO Richard Fairbank told analysts executives have their "microscopes" out for any signs of trouble, but consumers remain "in a great place."
Capital One customers have been unable to access their direct debits, leaving them unsure how they will be able to pay their bills and other essential expenses.
Capital One says an outage has been affecting users since Thursday; as customers report they are still waiting for services to return.
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