Capital One Proposes $265B Plan to Secure Discover Acquisition Approval
Originally Published 1 year ago — by Yahoo Finance
Capital One has proposed a $265 billion community benefit plan to gain regulatory approval for its $35 billion merger with Discover Financial. The plan includes $200 billion in loans to low- and middle-income consumers, $44 billion in community development, and significant investments in nonprofits and minority-owned businesses. The merger would create the world's largest credit card company, but faces scrutiny from regulators and consumer groups concerned about competition and market exposure.