Capital One's Tax Accounting Rejected

The Accounting Policy & Practice Report ® provides financial accounting policy makers, advisors, and practitioners with the latest news, expert insights, and guidance on emerging, evolving,...

Robert Willens is president of the tax and consulting firm Robert Willens LLC in New York and an adjunct professor of finance at Columbia University Graduate School of Business. 

Capital One Financial Corp. (CO) is a financial and bank holding company; its principal subsidiaries, COB and FSB, provide consumer lending products and issue credit cards. CO earns part of its income from a variety of fees associated with its lending services, including “late fees” charged to customers who do not make their payments on time.

Try Accounting Policy Practice Report