Capital One’s Discover acquisition gains approval from Justice Department

Capital is a single financial progress to discover the financial services, as the Department of Justice noted that this does not envisage significant competition issues that will block the merger.

This is followed by a $ 35 billion transaction in February 2024, which originally caused concern over consumers, particularly without credit histories.

The Department of Justice has previously expressed concern over the merger during the Biden administration, but its investigation continued when President Trump took over President Trump, New York Times reported.

Recently, the Board informed the Federal Reserve and the Currency Comptroller office, which completed its revision and found no grounds to block the merger according to anonymous sources.

Before the Department of Justice cannot establish banking mergers, there may be legal action to prevent them.

The Federal Reserve and the set are still entitled to block the merger, but the last assessment is significant, as analysts expected that the Department of Justice raised objections.

It is noteworthy that Federal banking agencies have not rejected a banking of banking since 2003.

In the last part of Biden’s administration, the Department of Justice presented a stricter instructions for assessing banking mergers, the first update since 2008.

Capital with $ 479 billion assets claims that the ninth largest bank in the United States.

The acquisition of revelation will expand its network of 305 million cardholders, complements its existing customer base more than 100 million.

The shareholders approved the entire stock deal, waiting for the transaction at the beginning of this year, waiting for the regulatory confirmation.

“Acquisition of capital reveals from the Department of Justice approves” originally created and published Retail Banker InternationalGlobaldata owned brand.

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