Capital One Defends Against ‘Speculative’ Allegations in $35 Billion Discover Acquisition Lawsuit
New York — Capital One Financial Corp. is poised to make a monumental push into the banking industry with its proposed $35 billion acquisition of Discover Financial Services. The deal, announced recently, has triggered a consumer lawsuit claiming the merger will harm competition and inflate fees. Capital One has hit back, dismissing the lawsuit as “speculative.” The acquisition seeks to consolidate Capital One’s standing among the leading national banks, tapping into Discover’s substantial customer base and technological assets. Discover is well-regarded for its credit card services and owns Diners Club, which could enhance Capital One’s … Read more