The Capital One Financial Corporation was founded in 1988 by Richard Fairbank and Nigel Morris as a spin-off of Signet Banking Corp. named Oakstone Financial Corporation.
The spin-off was renamed Capital One Financial Corporation in 1995, the same year it went public on the NYSE. This new company ranked in the top ten of credit card issuers in the country with 5 million customers.
In 2000 Capital One became a member of the Fortune 500.
Capital One entered the retail banking market through its acquisition of Hibernia National Bank in 2005 and North Fork Bancorporation in 2006.
Capital One acquired Chevy Chase Bank in 2008 for $520 million.
In 2018, Capital One was hit with a 9 figure fine its failure to adhere to a series of anti-money laundering guidelines established in a 2015 order by The Office of the Controller of the Currency.
The Trump administration and family members sued Capital One and Deutsche Bank on April 30, 2019, in an attempt to prevent them from releasing their personal and business financial information to Democratic committee members.
Today Capital One is a bank holding company specializing in credit cards, home loans, auto loans, banking, and savings products. The company is a member of the S&P 500 and Fortune 500. Capital One has 50,400 employees worldwide and had $21.396 billion in revenue in 2012.