Posted 2/21/2024, 8:29:00 PM
Capital One's Potential $2.7B Purchase of Discover Faces Antitrust Questions Over Consumer Impact
- Capital One is considering acquiring Discover in a deal that could impact consumers and the credit card industry
- One view is that the deal could increase competition against larger rivals like Visa and Mastercard, benefiting consumers
- The opposing view is that the deal would consolidate the industry further, giving Capital One more leverage to raise fees
- Senator Elizabeth Warren has called for regulators to block the $2.7 billion deal over concerns it would harm consumers
- To get the deal approved, Capital One may need to show regulators it will share some of the projected cost savings with consumers