FALLS CHURCH, Va.-Capital One Financial Corp. reported the conclusion of a direct marketing test relationship with Sprint PCS. The relationship involved Capital One originating wireless telephone accounts for Sprint PCS with the wireless carrier providing the telephone service and management of the accounts.
“After evaluating the test results, we determined that the rates of return available to us in this relationship did not compare favorably with our other investment opportunities,” said Richard Fairbank, chairman and chief executive officer of Capital One. “The talent and resources that were devoted to this relationship will best serve Capital One by being deployed to business segments producing higher returns.”
