TheStreet.com TV Recap: Give Capital One Credit (TheStreet.com)
A swipe of the credit card through the terminal sends the customer's card information to the bank that handles the credit card transaction, known as the acquirer, via a dial-up modem phone connection or a dedicated network connection.
TheStreet.com TV Recap: Give Capital One Credit (TheStreet.com)
It's learned its mortgage lesson. Now the company can focus on its lucrative credit card operation.
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Capital One shares fall 5% in late trading (Market Watch)
SAN FRANCISCO (MarketWatch) -- Shares of Capital One Financial Corp. fell 5% during Monday's late-trading session after the giant credit-card company said it was closing its wholesale mortgage unit, cutting 1,900 jobs.
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Capital One cutting 1,900 jobs (The Star Online)
NEW YORK: Capital One Financial Corp said on Monday it will eliminate 1,900 jobs and shut a wholesale mortgage unit it acquired less than a year ago, as it struggles with the US housing downturn.
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Capital One cuts 1,900 jobs, shuts mortgage arm (USA Today)
Another subprime shoe drops. Capital One Financial Corp., one of the nation's biggest credit-card issuers and a big home lender, says it will cut 1,900 jobs and close GreenPoint Mortgage, its wholesale mortgage business. The company headquarters are in McLean,...
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S&P Maintains Rating for Capital One (AP via Yahoo! Finance)
Standard & Poor's Ratings Services said on Tuesday it would maintain its credit rating for Capital One Financial Corp. despite the company's announcement on Monday that it would close its GreenPoint Mortgage business.
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Capital One shuts wholesale mortgage unit, cutting 1900 jobs (Market Watch)
SAN FRANCISCO (MarketWatch) -- Capital One Financial said late Monday that it is closing its wholesale mortgage business and cutting 1,900 jobs as the credit card giant loses confidence in the profitability of originating home loans, then selling them in secondary 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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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 drops mortgage banking business (Houston Chronicle)
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 through a credit crunch in the nation's housing market.
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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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TheStreet.com TV Recap: Give Capital One Credit (TheStreet.com)
Separately, the Fed warns that in addition to fraud on existing accounts, thieves who get ahold of consumers' personal information can open new credit accounts in the consumer's name. Such new accounts fraud is much tougher to detect, frequently results in much larger fraud amounts, and is much more difficult for consumers to resolve. Regular monitoring of credit reports for unusual accounts or activity can help consumers guard against new accounts fraud.
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