<SEC-DOCUMENT>0001193125-24-184993.txt : 20250219
<SEC-HEADER>0001193125-24-184993.hdr.sgml : 20250219
<ACCEPTANCE-DATETIME>20240725175826
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-24-184993
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240725

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAPITAL ONE FINANCIAL CORP
		CENTRAL INDEX KEY:			0000927628
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				541719854
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1680 CAPITAL ONE DRIVE
		STREET 2:		SUITE 1400
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102
		BUSINESS PHONE:		7037201000

	MAIL ADDRESS:	
		STREET 1:		1680 CAPITAL ONE DRIVE
		STREET 2:		SUITE 1400
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OAKSTONE FINANCIAL CORP
		DATE OF NAME CHANGE:	19940728
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>CORRESP</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[L<SMALL>ETTERHEAD</SMALL> <SMALL>OF</SMALL> W<SMALL>ACHTELL</SMALL>,
L<SMALL>IPTON</SMALL>, R<SMALL>OSEN</SMALL>&nbsp;&amp; K<SMALL>ATZ</SMALL>] </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">July 25, 2024 </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>VIA EDGAR </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, NE </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="11%" VALIGN="top" ALIGN="left">Attention:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Michael Henderson </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:10pt; font-family:Times New Roman">Marc Thomas </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:10pt; font-family:Times New Roman">Robert
Arzonetti&#8195;&#8195;&#8195;&#8195; </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:10pt; font-family:Times New Roman">Christian Windsor </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Capital One Financial Corporation </B></P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:22%; font-size:10pt; font-family:Times New Roman"><B>Amendment No.&nbsp;1 to Registration Statement on Form <FONT STYLE="white-space:nowrap">S-4</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:22%; font-size:10pt; font-family:Times New Roman"><B>Filed June&nbsp;14, 2024 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:22%; font-size:10pt; font-family:Times New Roman"><B>File <FONT STYLE="white-space:nowrap">No.&nbsp;333-278812</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Messrs. Henderson, Thomas, Arzonetti and Windsor: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">On behalf of our client, Capital One Financial Corporation (&#147;<U>Capital One</U>&#148;), we are providing Capital One&#146;s responses to
the comments of the Staff (the &#147;<U>Staff</U>&#148;) of the Division of Corporation Finance (the &#147;<U>Division</U>&#148;) of the U.S. Securities and Exchange Commission set forth in its letter, dated July&nbsp;15, 2024 with respect to the
above-referenced Amendment No.&nbsp;1 to the Registration Statement on Form <FONT STYLE="white-space:nowrap">S-4</FONT> (the &#147;<U>Registration Statement</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">Capital One is concurrently filing via EDGAR this letter and Amendment No.&nbsp;2 to the Registration Statement (&#147;<U>Amendment
No.</U><U></U><U>&nbsp;2</U>&#148;), which includes revisions made in response to the comments received from the Staff as well as certain additional changes to update the disclosure contained in Amendment No.&nbsp;2. We are separately furnishing to
the Staff courtesy copies of Amendment No.&nbsp;2 marked to show the changes to the Registration Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">For the Staff&#146;s
convenience, the text of the Staff&#146;s comments is set forth below in bold, followed in each case by Capital One&#146;s response. Terms not otherwise defined in this letter shall have the meanings set forth in Amendment No.&nbsp;2. All references
to page numbers in Capital One&#146;s responses are to the pages of Amendment No.&nbsp;2. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Amendment No.&nbsp;1 to Registration Statement on Form <FONT
STYLE="white-space:nowrap">S-4</FONT> </U></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Summary, page 15 </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note your responses to comments five and six. We continue to evaluate the responses and may have further
comments. </B></P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><I><U>Response</U></I>: Capital One respectfully acknowledges the Staff&#146;s comment. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g743340g0608054215314.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">July 25, 2024 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 2
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Risk Factors </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Changes in the laws and regulations governing interchange fees, page 33 </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note your response to prior comment 10 and revised disclosure on page 33 indicating that debit card
transactions on the Discover Global Network are not subject to the Regulation II limitation on interchange fees. You also state that the anticipated revenue synergies associated with the mergers &#147;assume that transactions involving a three-party
system will continue to not be subject to the limitations on the debit interchange fees.&#148; Please revise to clarify the reasonably likely financial impact to the combined company revenue synergies if the Discover Global Network&#146;s exemption
from the interchange fees is eliminated. </B></P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><I><U>Response</U></I>: In response to the Staff&#146;s comment, Capital
One has revised the disclosure on page 35 of Amendment No.&nbsp;2. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Prospectus Summary, page 15 </U></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note your response to prior comment 11 and revised disclosure on page 34 stating that Capital One intends
to issue cards &#147;on the Visa and Mastercard networks, which depends on the continued agreement of Visa and Mastercard.&#148; Please revise to clarify the extent that either Visa or Mastercard would have the ability to reduce the combined
company&#146;s ability to issue cards or access their networks, particularly during the transition. Make appropriate revisions to this risk factor to the extent that either payment system could materially curtail your ability to continue with your
credit and debit card business while you transition to more extensive use of the Discover network. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><I><U>Response</U></I>: In response to the Staff&#146;s comment, Capital One has revised the disclosure on page 36 of Amendment No.&nbsp;2.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&#8195;*&#8195;*&#8195;*&#8195;*&#8195;* </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">If you have any questions, please do not hesitate to contact me at (212) <FONT STYLE="white-space:nowrap">403-1367,</FONT> or my partner
Matthew M. Guest at (212) <FONT STYLE="white-space:nowrap">403-1341.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Very truly yours, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">/s/ Brandon C. Price </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Brandon C. Price </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Matthew W. Cooper, General Counsel and Corporate Secretary, Capital One Financial Corporation
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#8194;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Matthew M. Guest, Wachtell, Lipton, Rosen&nbsp;&amp; Katz </P></TD></TR></TABLE>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g743340g0608054215314.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g743340g0608054215314.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  - 04# 2(  A$! Q$!_\0
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+4#  &W@ 44 ?_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
