As typical with Capital One, first step was an online evaluation test (similar to a GMAT type test) on Math and Language skills. This was followed by a personality test. There are no right/wrong answers except that you answer honestly. Once cleared, they invite you in for a face-to-face interview.
This was 2 case studies and one behavioral interview. Case studies were on breakeven analysis of the credit card business and a conceptual analysis of a business acquisition. The breakeven analysis was to determine the threshold for keeping or eliminating a qualification step for credit card applicants.
The behavioral was a few questions: tell me about a time when you worked with someone (give examples about conflicts with that person, or how you overcame any vested interests in the task). Tell me about a time when you had to overcome some obstacle to complete your task. There was one more question I don't remember though.
They try to make the interview process standardized so that they can evaluate each candidate objectively. I think they are fairly successful at that. I don't know their evaluation criteria and they don't tell you why or where you fell short when rejecting your application.