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With industry growth weak and credit cards being used more and more as cash equivalents, Capital...

With industry growth weak and credit cards being used more and more as cash equivalents, Capital One (COF) is attempting a rotation out of the high balance revolver business and into building market share in the transactor business, says new CFO Steve Crawford at the Morgan Stanley conference (transcript) (presentation). Near-term, it could mean a hit to income due to the higher marketing costs necessary, but over an entire cycle the transactor business should prove more profitable and resilient.
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