07:51 AM EDT, 03/27/2024 (MT Newswires) -- A federal judge ruled on Tuesday that Walmart ( WMT ) is within its rights to end its credit card partnership with Capital One (COF) early because of the bank's failure to provide the necessary level of customer service.

US District Judge Katherine Polk Failla in Manhattan ruled that the terms of the company's 10-year 2018 deal showed that Capital One's "customer service failures" allowed the retailer to stop using the company as its exclusive provider of branded credit cards.

Walmart ( WMT ) sought to end the relationship last year citing Capital One's slow posting of transactions and supply of replacement cards, spurring the lawsuit.

In an email to MT Newswires, a Walmart ( WMT ) representative said, "we're pleased with the Court's decision. As we've said all along, the unambiguous terms of the agreement entitled Walmart ( WMT ) to terminate the parties ongoing relationship."

Capital One did not immediately reply to MT Newswires' request for comment.

Price: 60.7, Change: +0.19, Percent Change: +0.31