Capital One is set to acquire Discover, merging 2 of the US’ largest credit-card companies

According to The Wall Street Journal on Monday, Capital One Financial is on the verge of acquiring Discover Financial Services, a move that would combine two of the largest credit-card issuers in the United States.

This significant transaction, anticipated to be among the most substantial acquisitions of 2024, might be officially disclosed as early as Tuesday, as per reports.

It’s important to note that the deal has not been confirmed or finalized yet, and specific details are currently unavailable.

Capital One, a bank specializing in credit card issuance, boasts a customer base exceeding 100 million, as indicated on its website.

Discover has faced challenges in the past year, marked by compliance issues revealed in an internal review, leading to the resignation of its CEO, Business Insider reported.

READ MORE: https://www.wsj.com/finance/capital-one-is-buying-discover-financial-sources-say-a7c43dd2?mod=breakingnews

READ MORE: https://www.businessinsider.com/capital-one-set-to-acquire-discover-wsj-2024-2

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