From Yahoo Finance: 2025-04-18 14:06:00

Capital One’s acquisition of Discover was approved by federal regulators, creating the largest credit card company by customers’ outstanding balances. Some consumer advocacy groups opposed the deal, fearing limited options for consumers. The Federal Reserve and OCC approved the merger, signaling potential for more bank acquisitions in the future. Capital One CEO sees potential in Discover’s ability to issue credit cards on its own network, cutting out fees from Visa and Mastercard. The merger will make Capital One and Discover the top credit card lender with $250 billion in credit card loans. Despite concerns from consumer groups, the Fed believes options for subprime borrowers will remain competitive. The DOJ does not plan to challenge the merger after bank regulators’ approval.



Read more at Yahoo Finance: Regulators Give the Go-Ahead to Capital One-Discover Acquisition