Feb 26, 2024 · The $35 billion tie-up between Capital One Financial Corp. and Discover Financial Services would harm consumers by increasing concentration in the financial industry and should be blocked, 13 congressional Democrats argued in a letter.

The merger will no doubt face scrutiny from banking and antitrust regulators, which under President Joe Biden have been laser focused on anything that would dampen competition in the payments...

Feb 21, 2024 · President Joe Biden’s 2021 executive order to promote competition called on the DOJ and banking agencies to more aggressively scrutinize consolidation in the financial sector, a commitment regulators have echoed in recent public statements.

Feb 21, 2024 · President Joe Biden considers taking unilateral action on border security. The merger of two major credit card companies raises red flags.

Feb 21, 2024 · Combining Capital One and Discover, the top four and five players in the U.S. credit card market by loans, would create the biggest issuer with around $250 billion in card balances and a market...

Aug 1, 2024 · The Capital One-Discover deal came after Biden in 2021 directed regulators to increase their scrutiny of corporate tie-ups as part of a broader focus on antitrust policy. While updated US bank merger guidance—last issued in 1995—has yet to emerge, lawyers say there’s a perception that bank acquisitions are more difficult to get across the ...

Feb 20, 2024 · Sen. Elizabeth Warren (D-MA) is calling for federal regulators to stop Capital One from buying its competitor Discover, calling the deal “dangerous.” The all-stock deal was announced on Monday.

Feb 22, 2024 · Capital One’s $35.3bn proposed takeover of Discover Financial Services would fuse two leading credit card lenders and give it control of a network that connects consumers, merchants and...

Capital One is to buy Discover for $35 billion, in a deal that would bring together two of the nation's credit card companies. The deal would potentially shake up the payments industry.

Dec 5, 2024 · Regulators are scrutinising what would be one of the largest bank mergers in the past 15 years, Capital One’s proposed acquisition of Discover Financial.