United States Banking Authorities Approve $62 Billion Capital One $35.3 Billion Acquisition of Discover Financial Services to Create United States 8th Largest Bank with $637 Billion Assets, Discover Financial Services Founded in 1985, Owns Diners Club International, Operates Discover & Pulse Networks
20th April 2025 | Hong Kong
United States banking authorities have approved Capital One ($62 billion market value) $35.3 billion acquisition of Discover Financial Services to create United States 8th largest bank with $637 billion assets. Discover Financial Services was founded in 1985, owns Diners Club International, and operates Discover & Pulse networks. Announcement (18/4/25): “Capital One Financial Corporation (NYSE: COF) and Discover Financial Services (NYSE: DFS) today announced that the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency have approved Capital One’s proposed acquisition of Discover. This approval follows approval of the transaction by the Delaware State Bank Commissioner in December 2024, and by shareholders of more than 99 percent of each company’s shares voting in February of this year. All required regulatory approvals to complete the transaction have now been received, and the transaction is expected to close on May 18, 2025, subject to the satisfaction of customary closing conditions. There will be no immediate changes to Capital One and Discover customer accounts and relationships now or in the period immediately following the closing of the transaction. Capital One will provide customers with comprehensive information regarding relevant conversion activities well in advance of any future change. Until then, customers will continue to be served through their respective Capital One and Discover customer communications channels. Upon closing, Capital One will begin implementation of its historic, five-year Community Benefits Plan (CBP), developed in connection with the acquisition and in partnership with leading community organizations, mobilizing more than $265 billion in lending, investment, and services to advance economic opportunity and financial well-being across America.”
“ United States Banking Authorities Approve $62 Billion Capital One $35.3 Billion Acquisition of Discover Financial Services to Create United States 8th Largest Bank with $637 Billion Assets, Discover Financial Services Founded in 1985, Owns Diners Club International, Operates Discover & Pulse Networks “
Discover -Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Discover issues the Discover® card, America’s cash rewards pioneer, and offers personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network® comprised of Discover Network, with millions of merchants and cash access locations; PULSE®, one of the nation’s leading ATM/debit networks; and Diners Club International®, a global payments network with acceptance around the world.
Capital One – Capital One Financial Corporation is a financial holding company which, along with its subsidiaries, had $362.7 billion in deposits and $490.1 billion in total assets as of December 31, 2024. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches and Cafés located primarily in New York, Louisiana, Texas, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.
United States Banking Authorities Approve $62 Billion Capital One $35.3 Billion Acquisition of Discover Financial Services to Create United States 8th Largest Bank with $637 Billion Assets, Discover Financial Services Founded in 1985, Owns Diners Club International, Operates Discover & Pulse Networks
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