In the third or fourth quarter of this year, Capital One will take ownership of Walmart Mastercard and private label credit card outstandings in the U.S. from Synchrony Financial. The outstandings, expected to be in the $9-billion range, will be purchased at face value. The portfolios are tied to Synchrony’s 20-year partnership with Walmart, which expires July 31, 2019. Capital One becomes the issuer in August. Concurrently, Walmart has agreed to drop litigation it filed against Synchrony, and Synchrony has received an extension of its issuing contract for the Sam’s Club cash-back rewar...