Capital One engaged in deceptive business practices by misrepresenting the interest rates associated with its 360 Savings account. The company's actions undermined consumer trust and protection by effectively cheating customers out of billions in interest payments, reflecting significant ethical and business practice concerns.

BREAKING: CFPB Fails to Pursue $2 Billion for Cheated Capital One Consumers

Capital One's reported contributions and lobbying expenditures in the 2024 cycle demonstrate active engagement in shaping political outcomes. From an anti-fascist perspective, such significant financial involvement can facilitate undue corporate influence over policies, potentially supporting authoritarian practices. The spending, as documented in official records and highlighted by OpenSecrets, raises concerns about the prioritization of corporate interests over transparent, democratic processes.

Capital One Financial Profile: Summary • OpenSecrets

Capital One’s political fund, as shown in the FEC data, serves as a vehicle for corporate political spending. While the funds involved are not extraordinarily high, their existence reflects a deliberate strategy to engage in political contributions and lobbying. This centralized mechanism for political financing is of concern from an anti-fascist perspective because it can enable corporate influence over democratic processes, even if there is no explicit evidence of supporting overtly authoritarian candidates.

Capital One Financial Corp. Assoc. Political Fund

The lawsuit highlights Capital One Services' failure to pay overtime, which undermines labor rights and exploits workers. Misclassification of process managers to avoid overtime premiums directly contradicts fair labor practices, reflecting negatively on the company’s ethical responsibilities towards its employees.

Capital One Services Sued for Overtime Pay for Process Managers

By leveraging its acquisition strategy and financial resources, Capital One is positioned to exert a substantial positive economic impact on communities. The plan’s structural initiatives—such as investing in infrastructure, small business support, and maintaining physical banking services in underserved areas—enhance economic stability and serve as a countermeasure against systemic inequality.

Capital One Announces Five-Year, $265 Billion Community Benefits Plan in Connection with Discover Acquisition to Advance Economic Opportunity and Financial Well-Being

Capital One's decision to expand its lobbying team amid a contentious regulatory environment, particularly during its proposed acquisition of Discover Financial Services, represents a clear attempt to influence policy in favor of the company's interests. The sizable expenditure on lobbying—$810,000 in the first quarter of 2023—coupled with criticism from progressive lawmakers, underscores concerns regarding corporate attempts to exert undue influence on democratic processes and market competition.

Capital One adds lobbyists amid regulatory battle

Capital One's lobbying expenditure of $2.69 million in 2023 is indicative of significant corporate political influence, which from an anti-fascist perspective can be seen as undermining democratic processes and advancing corporate interests at the expense of marginalized communities. Such lobbying efforts contribute to regulatory capture, a core concern in the evaluation of corporate complicity in authoritarian practices.

Capital One Financial Lobbying Profile • OpenSecrets

The significant increase in lobbying staff, as reported by OpenSecrets data, suggests that Capital One is intensifying its political activities. This escalated lobbying effort is viewed negatively from a progressive perspective as it promotes undue corporate influence and may contribute to policies that marginalize public interests and working communities.

Bank lobbyists ride a 15-year high

The statement demonstrates a robust commitment to ethical supply chain practices and human rights by instituting detailed risk assessments, continuous monitoring of suppliers, enforceable contract terms related to modern slavery, and effective channels for whistleblowing. These measures help prevent exploitation and modern slavery, contributing positively to ethical business practices and mitigating supply chain risks.

Capital One UK Slavery & Human Trafficking Statement

By channeling billions into community development and affordable housing, Capital One demonstrates a commitment to fostering economic resilience and structural support for underrepresented communities. This approach helps mitigate inequality and offers a counter-narrative to authoritarian economic models.

Our Commitments: Community Engagement - Capital One

The lawsuit alleges that Capital One enforced company-wide practices that led to unpaid wages and denied overtime to call center workers, violating labor laws. This behavior undermines worker rights and reflects unethical labor practices, warranting a strongly negative score.

Capital One Shortchanged Call Center Workers on OT, Suit Says