Capital One to Shut Unit, Cut 1,900 Jobs (Washington Post)
And, people that make their money through tips still appreciate hard currency. After all, consumers can't exactly swipe their credit card across a tip jar.
Capital One to Shut Unit, Cut 1,900 Jobs (Washington Post)
-- Capital One Financial Corp. said Monday it will cut 1,900 jobs and shutter its wholesale mortgage banking business, a move that comes as lenders continue to struggle in the nation's housing and mortgage markets.
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Capital One and Thornburg lose $1.8bn (Financial Times)
The US mortgage meltdown continued to spread on Monday as two big lenders announced expected losses of a combined $1.8bn. Capital One Financial , one of the largest US credit card providers, said it would close its wholesale home lending unit, GreenPoint Mortgage, and take an after-tax charge of $860m, most of it coming this year.
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The July 2007 Senior Loan Officer Opinion Survey on Bank Lending Practices (Federal Reserve Board)
The July 2007 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months.
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Capital One Slams Door on GreenPoint Mortgage (Seeking Alpha via Yahoo! Finance)
The latest victim of the subprime crisis, Capital One Financial Corp. lowered its 2007 earnings outlook after halting residential-mortgage origination operations at its wholesale mortgage banking unit GreenPoint Mortgage.
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Quick Take: No More Jumbo Loans From Capital One (The Motley Fool)
Capital One pulls the plug on its nonconforming mortgage business.
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Capital One slashes jobs, mortgage industry swoons (Reuters via Yahoo! News)
The U.S. mortgage industry took another battering on Monday, as Capital One Financial Corp said it will shut a lending unit it bought less than a year ago, while two mortgage companies took steps to bolster liquidity as losses piled up.
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Capital One to Close Mortgage Unit (New York Times)
Capital One said it would stop making new mortgages through brokers, citing a weaker profit outlook for that business amid current mortgage market difficulties.
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Capital One eliminates 1,900 jobs (Sarasota Herald-Tribune)
MCLEAN, Va. -- Capital One Financial Corp. said Monday it will cut 1,900 jobs and close its wholesale mortgage banking business, a move that comes as lenders continue to struggle through a credit crunch in the nation's housing market.
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Capital One moves facility out of parish (Hammond Daily Star)
Capital One will not be building a check processing plant in Hammond, and the Hammond Area Economic and Industrial Development District is seeking compensation for services provided.
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Capital One shutters firm; to cut 1,900 jobs (Newsday)
Turmoil in the financial markets claimed another company with workers in the metropolitan area Monday as Capital One Financial Corp. closed down GreenPoint Mortgage, a mortgage banker with operations in 31 states.
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Capital One to Shut Unit, Cut 1,900 Jobs (Washington Post)
Meanwhile, technology is making it easier to pay without cash ever coming into the picture. Recent developments allows consumers to perform transactions with contactless credit cards that don't even need to be swiped. And, talk of payment information being loaded onto cell phones suggests there are incredible opportunities for what lies ahead.
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