Capital One proposes a $265bn five-year community benefits plan with its $35bn merger with Discover Financial, aiming to create the world's largest credit card company.
Capital One has announced a $265bn five-year community benefits plan as part of its proposed $35bn merger with Discover Financial. The plan aims to appease regulators and includes initiatives such as lending $200bn to low- and middle-income consumers, $44bn in community development projects, and millions to nonprofits, small businesses, and minority-owned financial institutions. If approved, the merger would create the world's largest credit card company.
July 17, 2024
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