The Bank Slate


Capital One, Walmart end consumer card partnership

Capital One Financial in McLean, Va., and Walmart have ended their consumer card partnership.

The $482 billion-asset Capital One said in a press release that the parties ended a 2018 agreement that made the financial services company the exclusive issuer of Walmart consumer credit cards.

Capital One will retain ownership and servicing of the card accounts.

The companies had been squabbling in recent months, with Walmart claiming in a lawsuit that Capital One was too slow to post many transactions to cardholders’ accounts. A federal judge rule in March that, due to customer services issues, Walmart could end the partnership.

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