U.S. consumers broadly remained resilient in the latest quarter, even as high energy prices added pressure, Capital One Financial's Chief Executive Richard Fairbank says. "When you pick up the news every day, one would think the world's falling apart," Fairbank says during a call with analysts. In reality, "the consumer continues to perform remarkably well," he says. Fairbank notes the unemployment rate in June was lower than in February before the Iran conflict began, while jobless claims remain low and job creation has rebounded over the past few months. Customers' bank balances and debt servicing burdens look a bit stronger than a year ago across income levels, he says, and in Capital One's domestic card business, credit metrics continued to improve on a year over year basis in the recent quarter.

(kelly.cloonan@wsj.com)

(END) Dow Jones Newswires

July 21, 2026 18:45 ET (22:45 GMT)

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