LONDON (MarketWatch) — Capital One Financial was cut to neutral from buy at Goldman Sachs as the broker said it’s becoming more cautious because loan shrinkage is continuing, a new Fed late fee directive could reduce subprime revenue by 5% to 10% and February delinquencies may tick up. Discover Financial Services was kept at buy as the late fee impact is smaller and as they are growing on-card loan and network revenue.
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