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.
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