Walmart
is suing
Capital One Financial
its credit-card issuer, in a bid to terminate the companies’ partnership. The move could mean the loss of about $8 billion in credit-card balances for Capital One, but Wall Street seems unbothered.
Since 2018, Capital One (ticker: COF) has been the exclusive issuer for Walmart’s (WMT) private- label and co-branded credit card program in the U.S. But last week, America’s largest retailer filed to end the partnership, arguing that Capital One had failed to meet certain terms of the contract.
