Reported 3 months ago
Capital One has announced a $265 billion community benefit plan as part of its $35 billion merger agreement with Discover Financial, aimed at satisfying regulators' concerns. The five-year plan includes lending $200 billion to low- and middle-income consumers, investing heavily in community development, and supporting nonprofits and minority-owned financial institutions. This merger, if approved, would create the largest credit card company in the world, leading to scrutiny from regulators and consumer groups about potential impacts on competition and community resources.
Source: YAHOO