Hi Dan I have a friend inside Capital One who tells me they're very concerned about the future of the industry. In a nutshell, C1 makes money three ways: (1) d

Hi Dan I have a friend inside Capital One who tells me they're very concerned about the future of the industry. In a nutshell, C1 makes money three ways: (1) debit interchange, (2) net interest margin (NIM) and (3) fees. Dodd-Frank basically killed debit interchange and fees (esp. with the overdraft changes). If you think spread will keep collapsing, I'm not sure what's left revenue-wise.