May 5, 2020 / 8:32 PM / a month ago

Capital One's North American, UK offices to stay closed until September: memo

NEW YORK (Reuters) - Capital One Financial Corp (COF.N) told staff on Tuesday the bank’s offices in the United States, Canada and the UK will remain closed to all non-essential staff due to the coronavirus outbreak through at least Sept. 7.

As other banks are developing plans to gradually return workers to offices, Capital One has adopted one of the toughest stances by a financial services firm to curb the spread of coronavirus and limit staff interaction at its corporate locations.

In an internal memo seen by Reuters, Chief Executive Richard Fairbank emphasized that Capital One is an essential business and has remained open since taking moves to have bank staff work remotely in March.

“We have been able to operate effectively,” Fairbank said. “Given current health conditions and uncertainties in our major markets, we feel this decision supports the health and safety of our associates and communities.”

About 75% of Capital One branches are open, with bank staff interacting with customers from behind protective glass or through drive-through windows.

Fairbank, who is also the bank’s founder and chairman, said staff will be notified of any changes to the “remote work approach” at least six weeks in advance.

Reporting by Elizabeth Dilts Marshall; Editing by Sandra Maler and Tom Brown

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