On February 19, 2024, Capital One entered into an agreement to acquire Discover Financial Services in an all-stock transaction, which is subject to regulatory and shareholder approvals.

Capital One offers financial products and services through digital channels, branch locations, cafés, and other distribution channels, indicating a multi-channel approach to customer acquisition and service.

The company regularly explores and evaluates opportunities to acquire financial products, services, and assets, including technology companies, and enters into strategic partnerships as part of its growth strategy.

Capital One invests significantly in associate training and professional development, which is intended to support talent competitiveness and maintain a culture of learning.

The company emphasizes diversity and inclusion in its talent programs and work practices, aiming to cultivate a work environment that supports a culture of belonging.

Capital One leverages information and technology to achieve its business objectives and to develop and deliver products and services that satisfy customer needs, with a focus on cloud technology and digital delivery.

The company is exposed to risks from changes in the macroeconomic environment, including potential recessions, inflation, and changes in monetary policy, which could impact borrowers' ability to repay debt and affect financial results.

Capital One faces significant risks related to cyber-attacks and other security incidents that could lead to the theft, loss or misuse of information, and disruptions to business operations.

The company is subject to extensive regulation and supervision, and changes in laws, regulations, or regulatory policies could have a material effect on its business and operations.

Capital One faces intense competition from various bank and non-bank providers of financial services, including credit card issuers, digital payment companies, and other financial technology providers.

The company competes on the basis of product and service quality, transaction execution, innovation, and price, with competition varying based on the types of customers, industries, and geographies served.

The company's ability to compete depends, in part, on its ability to attract and retain associates, as well as its reputation and ability to keep pace with innovation.

The company generally experiences fluctuations in purchase volume and outstanding loan receivables due to seasonal variances in consumer spending and payment patterns.

Customer usage and payment patterns, along with estimates of future credit losses, marketing expenses, and operating efficiency, all affect the company's profitability.

Net charge-off rates for the credit card loan portfolio have historically exhibited seasonal patterns and generally tend to be the highest in the first quarter of the year.

The company focuses on the development and integration of efficient and flexible computer and operational systems, including cloud technology, to support its business strategies.

The company relies on third-party service providers to deliver systems and operational infrastructure, including cloud infrastructure, credit card processing, and banking systems.

The company is committed to implementing safeguards designed to protect customer information and its own technology.

The company is subject to capital adequacy guidelines established by the Federal Reserve and OCC and is required to undergo stress testing to ensure sufficient capital to absorb potential losses.

The company's ability to pay dividends and meet other obligations is dependent on dividends from its subsidiaries, which are subject to legal and regulatory limitations.

The company and the Bank are subject to minimum liquidity standards and must maintain a 30-day buffer of highly liquid assets, consistent with Federal Reserve regulations.

The Board of Directors oversees human capital management, including strategies, policies, practices, and diversity, inclusion, and belonging.

The company has a focus on supporting the diversity of its workforce at all levels and invests in programs intended to support a culture of belonging.

The company evaluates base pay and incentive pay for all associates globally and reviews groups of associates in similar roles, adjusting for factors that appropriately explain differences in pay.

The company's financial results are impacted by the level of consumer and business activity and the demand for its products and services, which are sensitive to macroeconomic conditions.

The company competes with a wide range of financial institutions, including banks, credit unions, and other financial service providers, as well as emerging digital payment companies.

The company is subject to increased regulatory scrutiny and enforcement actions, including from the Federal Banking Agencies, SEC, CFTC and CFPB.