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Stock impact report

Capital One just bought Discover. Here's what it means for their customers. [Yahoo! Finance]

Mastercard Incorporated (MA) 
Last mastercard incorporated earnings: 4/29 08:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
A pair of top Democrats warned last month that the deal could spell trouble for customers. Capital One has acquired Discover Financial , becoming the sixth-largest bank in the US by asset size. In an earnings call last month, Capital One's CEO, Richard Fairbank, said the goal was to "preserve the best" of what Discover does, such as its advertising and focus on customer experiences. Capital One's $35.3 billion acquisition of Discover was first announced in February 2024. The deal was approved by regulators last month, despite pushback from top Democrats and consumer advocates who raised concerns about lower competition and risks to low-income customers and those with poor credit scores. Representatives of Capital One and Discover didn't respond to a request for comment. On Monday, both banks said that "customer accounts and banking relationships remain unchanged" at this time. Here's what customers of each of the two companies stand to gain and lose from the deal. A muc Show less Read more
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