Sen. Elizabeth Warren and 13 Congress members urge regulators to block Capital One-Discover merger, citing reduction in consumer choice and high fees.
Sen. Elizabeth Warren and 13 members of Congress have called on regulators to block a proposed $35bn merger between Capital One and Discover Financial Services. The lawmakers argue that the deal will result in Capital One becoming the sixth-largest bank in the US and reduce consumer choice, leading to high fees. They also urged the US government to rethink its "permissive approach" to bank mergers.
February 26, 2024
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