History of Capital One in Timeline

Capital One Financial Corporation is a major American bank holding company headquartered in Tysons, Virginia, with a significant presence in the United States, Canada, and the UK. It is a leading issuer of credit cards and a substantial player in auto finance within the U.S. Capital One owns payment networks like Discover, Diners Club, and Pulse. Its operations are divided into three key segments: credit cards, consumer banking, and commercial banking. It operates approximately 750 bank branches, featuring café-style locations, and manages a network of 7,000 ATMs across the United States. Its corporate headquarters are located in Capital One Tower, while its European headquarters reside in Trent House, Nottingham.

1991: Telephone Consumer Protection Act Enacted

2001: Capital One sponsors Florida Citrus Bowl

In 2001, Capital One became the principal sponsor of the college football Florida Citrus Bowl.

2003: Capital One sponsors Nottingham Forest

From 2003 to 2009, Capital One sponsored English soccer club Nottingham Forest.

2003: Florida Citrus Bowl renamed Capital One Bowl

In 2003, the Florida Citrus Bowl was renamed the Capital One Bowl as part of Capital One's sponsorship.

2006: Capital One sponsors Sheffield United

From 2006 to 2008, Capital One sponsored English soccer club Sheffield United.

2008: Capital One Acquired Check-Cashing Businesses

Around 2008, Capital One acquired a now-defunct small portfolio of check-cashing businesses that later led to anti-money laundering control failure and a fine in 2021.

2008: End of Capital One sponsorship of Sheffield United

Capital One's sponsorship of English soccer club Sheffield United ended in 2008.

2009: End of Capital One sponsorship of Nottingham Forest; Capital One Field at Maryland Stadium naming-rights deal inherited

Capital One's sponsorship of English soccer club Nottingham Forest ended in 2009. From 2009 to 2022, the University of Maryland Terrapins football team played at Capital One Field at Maryland Stadium (formerly Byrd Stadium), a naming-rights deal inherited in the bank's acquisition of Chevy Chase Bank.

2010: Capital One Sponsors NCAA

In 2010, Capital One became a major sponsor of the NCAA.

July 2012: Capital One Fined for Misleading Customers

In July 2012, Capital One was fined by the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau for misleading millions of its customers, for example by requiring customers to pay extra for payment protection or credit monitoring when they took out a card. The company agreed to pay $210 million to settle the legal action and to refund two million customers. This was the CFPB's first public enforcement action.

2012: Capital One sponsors EFL Cup

From 2012 to 2016, Capital One sponsored the EFL Cup, an English soccer knockout tournament.

2012: Capital One advert featuring DragonForce

In 2012, Capital One released an advertisement featuring the British power metal band DragonForce. The commercial depicted Herman Li and Sam Totman playing guitar on an asteroid while using Capital One's mobile app.

February 2013: Capital One allegedly began offering a savings account with higher yield

In July 2023, a lawsuit claimed that, since February 2013, Capital One unfairly began offering a savings account with higher yield but didn’t tell legacy customers.

October 2013: Prior express written consent requirement for telemarketing calls since October 2013

In August 2014, Capital One and three collection agencies entered into an agreement to pay $75.5 million to end a consolidated class action lawsuit alleging that the companies used an automated dialer to call customers' cellphones without consent, which is a violation of the Telephone Consumer Protection Act of 1991. This legal action involved informational telephone calls, which are not subject to the "prior express written consent" requirements in place for telemarketing calls since October 2013.

2013: Capital One Pays NCAA $35 Million Annually

As of 2013, Capital One paid an estimated $35 million annually to the NCAA in exchange for advertising and access to consumer data.

August 2014: Capital One Settles Lawsuit Over Unsolicited Calls

2014: Capital One Sold Check-Cashing Businesses

Capital One sold the portfolio of check-cashing businesses in 2014.

2014: Capital One sponsors Florida Citrus Bowl until 2014

Capital One was the principal sponsor of the college football Florida Citrus Bowl until 2014.

2015: Capital One Title Sponsor of Orange Bowl

In 2015, Capital One became the title sponsor of the Orange Bowl.

2015: Federal Investigation for Bank Fraud Disclosed

In 2015, Capital One disclosed that it was under federal investigation for bank fraud, money laundering, and possible racketeering charges.

2015: Name of bowl game changed

In 2015, the name of the bowl game formerly known as the Capital One Bowl was changed to the Buffalo Wild Wings Citrus Bowl.

2016: End of Capital One sponsorship of the EFL Cup

Capital One sponsorship of the EFL Cup, an English soccer knockout tournament, ended in 2016.

2017: Capital One Arena Naming Rights Deal

In 2017, Capital One agreed to pay $100 million for a 10-year deal for the naming rights of the Capital One Arena in Washington D.C.

2018: Capital One Fined for Money Laundering Failures

In 2018, Capital One was fined $100 million by the Office of the Comptroller of the Currency for failure to monitor, detect, and prevent money laundering. The bank allegedly failed to file suspicious activity reports and had weaknesses in its risk assessment and remote deposit capture.

2018: Capital One Logo Changed Temporarily

In 2018, to celebrate the Washington Capitals' appearance in the Stanley Cup Final, Capital One temporarily changed its logo by replacing the word "Capital" with the Capitals' titular logo, without the "s" plural.

July 2019: Capital One Data Breach

In July 2019, Capital One experienced a major data breach where unauthorized access led to the compromise of personal information of 106 million people in the United States and Canada.

July 2019: Capital One Data Breach Publicly Acknowledged

In July 2019, Capital One publicly acknowledged a major data breach. The company's contradictory press statement was mocked for downplaying the compromise of bank account numbers and Social Security numbers while simultaneously listing such compromised data.

July 17, 2019: Capital One alerted to data breach

On July 17, 2019, Capital One was alerted to the data breach, 12 days before it was publicly acknowledged.

August 2020: Federal Reserve Issues Cease and Desist Order

In August 2020, the Federal Reserve Board of Governors announced a cease and desist order against Capital One resulting from the data breach. The order mandated improvements in Capital One's governance, risk management, and compliance practices.

January 2021: Capital One Fined for Anti-Money Laundering Control Failure

In January 2021, Capital One was fined $390 million by FINCEN for anti-money laundering control failure concerning a now-defunct small portfolio of check-cashing businesses that Capital One acquired around 2008 and sold in 2014.

March 2022: Capital One Partnerships

In March 2022, Major League Baseball announced that Capital One is the official bank and credit card and presenting sponsor of the World Series. In March 2022, Capital One also announced a partnership with Vivid Seats Inc. to launch Capital One Entertainment, a rewards programs for cardholders.

2022: Capital One Field at Maryland Stadium naming-rights deal ends

From 2009 to 2022, the University of Maryland Terrapins football team played at Capital One Field at Maryland Stadium (formerly Byrd Stadium), a naming-rights deal inherited in the bank's acquisition of Chevy Chase Bank.

2022: Conviction of Data Breach Perpetrator

In 2022, Thompson was convicted of five felonies and two misdemeanors related to the Capital One data breach. She was sentenced to time served and five years of probation.

2022: Capital One Venture X Sponsors Rose Bowl Game

Since 2022, Capital One Venture X is the presenting sponsor of the Rose Bowl Game.

July 2023: Lawsuit Filed Over Savings Account Yields

In July 2023, a lawsuit claimed that, since February 2013, Capital One unfairly began offering a savings account with higher yield but didn’t tell legacy customers.

2023: Federal Reserve Ends Enforcement Action

The Federal Reserve ended the enforcement action against Capital One in 2023.

January 2025: CFPB Sues Capital One for Cheating Savings Account Holders

In January 2025, the Consumer Financial Protection Bureau sued Capital One for allegedly cheating savings account holders out of $2 billion through deceptive practices related to "360 Performance Savings" and "360 Savings" accounts.

May 2025: New York Files Lawsuit Against Capital One

In May 2025, the State of New York filed a lawsuit against Capital One alleging that depositors were promised high interest rates on "360 Savings" accounts but only paid lower rates compared to "360 Performance Savings" accounts.