Document Type
Blog Post
Publication Date
4-15-2024
Abstract
On February 19th Capital One announced that it was buying Discover for $35.3 billion. If approved, this acquisition would make Capital One the United States’ sixth largest bank and its third largest credit-card issuer. However, many have voiced concerns with this deal. Senators from both sides of the aisle have called on the Federal Trade Commission (“FTC”) to block this transaction as a violation of antitrust law. Senator Hawley from Missouri said that “[i]f consummated, this merger will create a new juggernaut in the credit card market, with unprecedented powers to extort American consumers," while Senator Elizabeth Warren of Massachusetts wrote in a letter to the Federal Reserve that “[t]his merger is bad for consumers.”
This post was originally published on the Cardozo Journal of Conflict Resolution website on April 15, 2024. The original post can be accessed via the Archived Link button above.
Recommended Citation
Schwalb, Yakov, "ADR and Capital One’s Acquisition of Discover" (2024). CJCR Blog. 88.
https://larc.cardozo.yu.edu/cjcr-blog/88
