Reported about 20 hours ago
Capital One has received significant approvals for its merger with Discover Financial Services, potentially positioning it as the largest credit card issuer in the U.S. The Federal Reserve and the Office of the Comptroller of the Currency have endorsed the all-stock deal, contingent on Capital One addressing previous enforcement issues with Discover Bank. The merger aims to enhance Capital One's competitive edge against major rivals and may increase merchant acceptance for Discover customers, although there are concerns about higher interest rates for subprime borrowers.
Source: YAHOO