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Capital One is the eighth-largest bank holding company {in the usa|in america|in the us} when ranked by assets and deposits.[6] The bank has 812 branches[6] including 10 caf? style locations {because of its|due to its|due to the} Capital {1|A single|One particular} 360 brand[7] and 2, 000 ATMs. Capital One Financial is ranked #112 on the Fortune 500,[8] and also conducts business in Canada and the United Kingdom. The company helped pioneer the mass marketing of credit {credit cards|playing cards|greeting cards} in the 1990s, and as of 2003 it was the fourth-largest customer states Postal Service.[9]
Its corporate offices are {situated in|positioned in|found in} Tysons Corner, Va.[10]
In 2015, 62% of the company's {income were|profits were|earnings were} from credit {credit cards|playing cards|greeting cards}, 28% was from consumer banking, and 10% was from commercial {financial|bank}
{Upon|About|In} July 27, 1994, Richmond, Virginia-based Signet Financial Corp announced the generate of its credit card {department|section|split}, OakStone Financial, naming Rich Fairbank as CEO[11] (Signet Banking Corp is now part of Wells Fargo). Signet has been renowned the subsidiary Capital {1|A single|One particular} in October of that year.[12] The spinoff was concluded {Feb|Feb .|March} 28, 1995, making Capital One fully independent.[13]
Unlike other diversified financial services firms, Capital {1|A single|One particular} {started|started out|commenced} as a "monoline", meaning the vast {vast majority|the greater part|bulk} of its business was in consumer lending, {especially|specifically} credit cards. Remaining a monoline is risky, as it can be very profitable industry in good times, and markedly unprofitable in bad. Most consumer-lending monolines in the {recent|history|former} 20 years have either gone bankrupt (e. g., The Money Store, NextCard, Royal Acceptance) {and have|and have absolutely} recently been acquired (e. g., MBNA, Beneficial, First USA); Capital One is notable for achieveing experienced neither.[14][15]
Capital One {credited|ascribed|linked} its relative success as a monoline to {the|their|it is} use of data collection to build demographic {single profiles|dating profiles|background}, allowing it to {focus on|concentrate on|goal} {customized|individualized|personal} offers of credit direct to consumers.
In 1999, Capital One was looking to expand {past|over and above|further than} credit cards. CEO Rich Fairbank announced moves to use Capital One's experience with collecting consumer data to offer loans, insurance, and phone service.
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