Walmart has filed a lawsuit against credit card partner Capital One. The retailer did so in connection to the contract it has with Capital One for the bank to issue its cards.
Walmart accused Capital One of instances of missing the standards "regarding timely payment processing and transaction posting," according to the court document. It also claimed the bank came in below the service standard level in the contract for mailing replacement credit cards within a certain amount of days during the 12-month period.
The Capital One spokesperson said the suit is "an attempt to renegotiate the economic terms of the partnership it agreed to just a few years ago or end the deal early." The "servicing issues" are "immaterial and cured by Capital One pursuant to the terms of the agreement without harm to customers, the program or Walmart," according to the spokesperson.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Capital One Financial falls in premarket after Walmart suit reportCapital One Financial undefined fell 3.5% in premarket trades Monday after reports that Walmart Inc. undefined sued the credit-card giant in an effort to...
Read more »
Free Taylor Swift tickets: Capital One hosting Houston giveaway this weekAre you still trying to score tickets to Taylor Swift’s sold out Houston concerts? Here’s a chance to get some – for free.
Read more »
One dead, one wounded in two shotgun shootings; suspect arrestedDeputies with the San Diego County Sheriff's Department were dispatched to the 2900 block of Equitation Lane in Bonita around 5:30 a.m. Sunday after receiving reports of a man who was shot.
Read more »
Oakland: One killed, one injured in separate shootingsOne person was fatally shot and another was injured in separate shootings Sunday near the city’s Lake Merritt and in a west Oakland neighborhood, authorities said.
Read more »
'Absolutely Insane': Greg Abbott Seeks Pardon for Man Convicted of Murdering BLM Protester'The man who killed Garrett Foster, while Foster protested George Floyd's murder, will be pardoned. George Floyd's pardon is still stuck with the Board of Pardons. If a fiction author wrote this, no one would believe it.'
Read more »