Capital One Announces $265 Billion Community Benefits Plan Capital One said Tuesday (July 16) that a combination of the bank with Discover Financial Services would provide more benefits to underserved communities than the organizations would offer separately. The bank said this in a press release announcing a...
Discover Financial Services wants to settle a lawsuit accusing it of overcharging merchants. The lender revealed the proposed settlement in the class-action case in a Wednesday (July 3) filing with the Securities and Exchange Commission (SEC). “As of March 31, 2024, the company had increased its liability to...
Walmart and Capital One have reportedly settled a lawsuit centering on their former credit card partnership. The case was dismissed Thursday (June 20) by a judge after the companies resolved their claims and counterclaims, Reuters reported Friday (June 21). The terms of the settlement were...
Capital One will no longer be the exclusive issuer of Walmart Consumer Credit Cards. The two companies announced Friday (May 24) in a joint press release that they ended their agreement. They introduced the Capital One Walmart Rewards Credit Card Program in 2019, according to the release. “While Capital One and...
April 02, 2024
2019, the year of the payments industry mega-deals, seems long ago and far away. Before the pandemic, the headlines were awash in waves of verticalization, where large firms scooped up other large firms for tens of billions of dollars. FIS bought Worldpay for a staggering $43 billion. Fiserv bought First Data for more than $22 billion. Global Payments added TSYS to its roster for nearly $22 billion. Much has happened […]
February 29, 2024
The news that Capital One has launched a $35 billion bid to acquire Discover Financial has shaken up the financial services industry. Jim McCarthy, CEO of Thredd, told Karen Webster...
February 20, 2024
In any industry, a $35 billion deal is, of course … a big deal. But in financial services, the news that Capital One has set the stage to buy Discover...
January 30, 2024
Where there’s smoke, there’s fire, goes the old aphorism. In the credit card space, and within the private-label subset of that industry, the flames are not here yet, although wisps...
July 19, 2024
Congresswoman Maxine Waters (D-Calif.) reiterated her opposition to the proposed Capital One–Discover merger. Waters, the top Democrat on the House Financial Services Committee (HFSC), testified against the proposed merger Friday (July 19) during a virtual meeting convened by the Federal Reserve and the Office of the Comptroller of the Currency (OCC), according to a Friday […]
July 17, 2024
Capital One Announces $265 Billion Community Benefits Plan Capital One said Tuesday (July 16) that a combination of the bank with Discover Financial Services would provide more benefits to underserved communities...
July 04, 2024
Discover Financial Services wants to settle a lawsuit accusing it of overcharging merchants. The lender revealed the proposed settlement in the class-action case in a Wednesday (July 3) filing with the Securities and...
June 21, 2024
Walmart and Capital One have reportedly settled a lawsuit centering on their former credit card partnership. The case was dismissed Thursday (June 20) by a judge after the companies resolved...
