What to Know About Capital One’s Proposed Acquisition of Discover
"Capital One was the nation’s fourth-largest credit card issuer last year, with $122.9 billion in outstanding receivable payments, and Discover was the nation’s sixth largest with $94 billion, according to data from Nilson Report, a newsletter that tracks the payment industry.
The transaction is likely to draw scrutiny from regulators who are concerned that megadeals would give larger financial institutions even more power to set higher rates, said David Robertson, the publisher of the Nilson Report."