Capital One and Discover merger approved by Federal Reserve

Capital One and Discover merger approved by Federal Reserve


Key Points
  • Capital One Financial’s application to acquire Discover Financial Services has officially been approved by the Federal Reserve and the Office of the Comptroller of the Currency.
  • Capital One announced plans to acquire Discover in an all-stock transaction valued at $35.3 billion in February 2024.
  • It will also indirectly acquire Discover Bank through the transaction.



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