Capital One-Discover Merger Could Shake Up Credit Card Market, Dethrone JPMorgan
Capital One(COF) Investopedia·2024-02-21 06:55
Key TakeawaysCapital One's $35.3 billion acquisition of Discover Financial stands to shake up the financial services industry, making the combined company a major player in credit cards.The company could displace JPMorgan Chase as the dominant credit card lender, based on current card loan data.With a boost in investment from Capital One, Discover could better take on Visa and Mastercard, which are the dominant credit card brands in the U.S.The deal, however, will face regulatory hurdles.The proposed $35.3 ...