Key Points Capital One proposed a $35.3 billion all-cash acquisition of Discover Financial Services, potentially reshaping the credit card industry. Discover's third-party network combined with Capital One's banking status opens up product opportunities akin to American Express. Capital One CEO plans to gradually transfer Capital One's debit cards from Mastercard's network to Discover's. 5 stocks we like better than Capital One Financial What’s in your wallet? In the not-so-distant future, it might be a car ...