NBC, February 20, 2024, Discover Merger Could Put A Bigger Squeeze On Credit Card Users, Experts Warn
The National Community Reinvestment Coalition, an advocacy group that looks to funnel private investment into underserved communities, also wasted no time criticizing the merger.
“It is very difficult to imagine how federal regulators could allow Capital One to buy Discover given the requirement that mergers benefit the public as well as insiders,” CEO Jess Van Tol said in a statement Tuesday. “The deal also poses massive antitrust concerns, given the vertical integration of Capital One’s credit card lending with Discover’s credit card network.”
