Credit Cards

Congressional Dems oppose Capital One's acquisition of Discover

New York attorney general probing antitrust allegations

Since February 2024, Capital One has been working to acquire Discover in an all-stock transaction valued at $35.3 billion. The merger would create the largest U.S. credit card issuer, surpassing industry leaders like JPMorgan Chase and Citigroup.

But the deal is running into headwinds in Congress and the New York Attorney General's office. 

In Congress, Elizabeth Warren (D-Mass.) Reps. Alexandria Ocasio-Cortez (D-N.Y.) wrote to the Office of the Comptroller of the Currency...