Industry News
All Richard Fairbank News
Top stories summarized by our editors
Top stories summarized by our editors

Capital One eyes potential BNPL offering

9/14/2021

Capital One will test a buy now, pay later option with current customers at certain merchants later this year. "We're watching this product closely and certainly not taking this growth lightly, especially as many of these buy now, pay later providers form new financial relationships with a large number of consumers and merchants," said Capital One CEO Richard Fairbank.

Capital One aims to spur growth by raising card limits

2/25/2021

Capital One Financial is raising credit limits for some credit card customers with prime and subprime credit scores in the hopes it will grow revenues, according to CEO Richard Fairbank. Loan growth for the credit card business has been stymied during the pandemic by consumers who are paying down their credit card debt.

Capital One's Dean named retail bank president

11/11/2020

Capital One has named credit card unit executive Lia Dean as its next retail bank president, overseeing its branches, Capital Care cafes, ATMs and retail call centers. Dean succeeds Kleber Santos, and will report directly to chairman and CEO Richard Fairbank.

Warren wants more information on Capital One breach

8/12/2019

Sen. Elizabeth Warren, D-Mass., wants to know how many customers were affected by the recent Capital One data breach and when they will be notified, per a letter she sent to Capital One CEO Richard Fairbank. The breach affected over 100 million customers and was attributed to a former Amazon employee who hacked into the system.

Warren wants more information on Capital One breach

8/9/2019

Sen. Elizabeth Warren, D-Mass., wants to know how many customers were affected by the recent Capital One data breach and when they will be notified, according to a letter she sent to Capital One CEO Richard Fairbank. The breach affected over 100 million customers and was attributed to a former Amazon employee who hacked into the system.

Capital One, Discover exercise caution with credit card limits

10/30/2018

Capital One and Discover officials say they are monitoring the economy closely and are being cautious about raising customer credit card limits. Of the recent economic boom, Capital One CEO Richard Fairbank said, "[I]n some ways, it almost feels too good to be true."

Capital One, Discover exercise caution on credit card limits

10/29/2018

Capital One and Discover officials say they are monitoring the economy closely and are being cautious about raising customer credit card limits. Of the recent economic boom, Capital One Chief Executive Richard Fairbank said, "[I]n some ways, it almost feels too good to be true."

Capital One sees auto-loan growth but remains vigilant

10/27/2016

Capital One Auto Finance's auto-loan originations increased more than 23% in the third quarter compared with Q3 of 2015, reaching $6.8 billion. The lender remains vigilant about the market and underwriting practices at competitors, says Capital One Financial CEO Richard Fairbank.

Bank execs: Auto lending remains attractive

6/13/2016

Pricing might be overheated for auto loans, but U.S. Bancorp has no plans to exit prime auto lending anytime soon, said Richard Davis, chairman and CEO. Capital One Financial also sees continued growth for auto lending, said Richard Fairbank, chairman, president and CEO.