- Capital One is readying an acquisition of Discover Financial Services, according to The Wall Street Journal.
- The deal would merge two of the largest credit-card issuers in the US.
- Discover is coming off a difficult year after compliance lapses led to a CEO resignation.
Will the feds be asleep at the wheel again, and let this merger go through?
Tolstoshev@lemmy.world 8 months ago
What’s in your wallet? A monopoly.
rdyoung@lemmy.world 8 months ago
Actually this could be a good thing. Cap one is the 4th largest credit card issuer in the USA. If they cut tx fees on discover low enough it would force Visa/MC to cut theirs. They could make a mint and the consumer would benefit as well.
Anticorp@lemmy.world 8 months ago
Because that’s why companies merge and form monopolies, to lower fees and help consumers. Right? Right guys? Right?
superduperenigma@lemmy.world 8 months ago
How did that work out for the airline industry? Because history sure seems to indicate that these monopolistic mega-mergers result in higher prices for a worse experience.
hglman@lemmy.world 8 months ago
They won’t