Walmart Makes a Bold Move Its Customers Should Know About

The retail corporation takes legal action.

Walmart  (WMT) – Get Free Report is formally making a complaint.

It involves a partnership with a bank holding company that it says has not lived up to its contractual obligations.

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Walmart filed a lawsuit against Capital One  (COF) – Get Free Report, saying it has failed to meet customer care standards.

“The bank, in February, admitted in writing that it failed to meet the standards,” Walmart alleged, according to Retail Dive

The standards alleged to have been unsatisfied involved expectations such as issuing replacement cards and promptly processing payments and posting transactions, Walmart alleged in the suit.

Capitol One disputed the allegation.

A Capital One spokesperson said Walmart’s lawsuit was “an attempt to renegotiate the economic terms of the partnership it agreed to just a few years ago, or end the deal early,” Retail Dive reported. 

“These immaterial servicing issues were cured by Capital One pursuant to the terms of the agreement, without harm to customers, the program, or Walmart,” the spokesperson added.

Capital One had teamed up with Walmart to issue its credit cards in 2018.

Walmart said it was planning to offer customers a new credit card option.

“In the meantime, cardholders should not experience any disruptions in service and can continue to use their existing Capital One Walmart credit cards,” Walmart said, according to Bloomberg

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