The Justice Department has approved the $35 billion sale of Discover Financial Services to Capital One, Critics concerned about negative impact on consumers and competition

From Yahoo Finance: 2025-04-06 11:35:00

The Justice Department has approved the $35 billion sale of Discover Financial Services to Capital One, allowing the formation of the largest U.S. credit card issuer. Critics are concerned that consumers with weak credit scores will suffer as Capital One expands its subprime market share. Advocates worry that the acquisition will limit options for consumers and increase costs. Democrats in Congress have raised concerns about Capital One’s regulatory history. State attorneys general may also challenge the deal at the state level. Regulators are still reviewing the merger, which could reshape the credit card industry.



Read more at Yahoo Finance: Cap One-Discover deal detractors assail reported DOJ approval