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Key regulator approves merger of Capital One and Discover, paving the way for a new biggest credit card company | CNN Business


//business-finance.news-articles.net/content/202 .. ew-biggest-credit-card-company-cnn-business.html
Published in Business and Finance on by CNN   Print publication without navigation

Capital One received conditional approval from the Office of the Comptroller of the Currency to acquire and merge with Discover Financial Services, the agency announced Friday.

The U.S. Federal Reserve has granted conditional approval for Capital One's $35 billion acquisition of Discover Financial Services, announced on April 18, 2025. The approval is contingent upon Capital One divesting itself of $7 billion in assets to comply with regulatory requirements aimed at maintaining competitive balance in the credit card market. This merger, if finalized, would create the largest credit card issuer in the United States, surpassing competitors like JPMorgan Chase and Citigroup. Capital One has agreed to the conditions set by the Federal Reserve and plans to complete the acquisition by the end of 2025, pending final regulatory approval and the successful divestiture of the specified assets.

Read the Full CNN Article at:
[ https://www.cnn.com/2025/04/18/business/capital-one-discover-merger-conditional-approval/index.html ]

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