Capital One Makes TIME100 Most Influential Companies List

Capital One’s elimination of overdraft fees propelled us into TIME’s second annual TIME100 Most Influential Companies list


Today, TIME named Capital One to its TIME100 list of Most Influential Companies. Now in its second year, the list highlights 100 companies that are making an extraordinary impact around the world and is an extension of the publication’s annual TIME100 franchise.

"Long ago, we set our sights on reimagining banking and helping our customers succeed. Eliminating overdraft fees is another step in our effort to bring ingenuity, simplicity and humanity to banking," said Rich Fairbank, Founder and CEO of Capital One. "Today's announcement by TIME recognizes the bold choices we have made and reflects our mission to change banking for good. I'm grateful to be included on this prestigious list and look forward to what our customers, associates and company can achieve in the future."

To assemble the list, TIME solicited nominations from editors and correspondents around the world and tapped experts from industries ranging from health care to entertainment, transportation to technology. TIME editors and staff then evaluated nominated companies on a variety of criteria including innovation, market leadership, company success and breadth of impact.

In an industry-leading moment last December, Capital One announced that it would eliminate overdraft fees and non-sufficient funds fees for all Capital One consumer bank customers. Bank overdraft fees can negatively impact the most financially vulnerable consumers who may carry low balances and have low monthly deposits. Capital One’s decision to completely eliminate these fees—and offer overdraft protection for free—reflects the company’s commitment to make the banking system more fair and inclusive. 

At the time of our announcement, Capital One was the only top 10 retail bank to make this move for all of its consumer bank products. Since then, Overdraft policies have garnered attention from examiners and policymakers, and dozens of banks large and small have updated or modified their overdraft protection and fee policies, including reducing fees, helping customers avoid fees, or in some cases eliminating overdraft fees entirely. These industry moves will help all consumers and is testament to Capital One’s ability to lead our industry and change banking for good. 

See the full list here: time.com/collection/time100-companies-2022/


To learn more about changes to Capital One’s overdraft policy, please visit https://www.capitalone.com/about/

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Capital One Eliminates Overdraft Fees for Customers

Overdraft protection will continue to be offered for free.