Details
Written by: RJ
Capital One is set to purchase Discover Bank for $35.3 billion. This would be an all stock deal. Capital One would keep the Discover brand alive under the Capital One umbrella.
Thoughts
Interesting to see if this passes regulatory approval. As well as how else Capital One would use Discover. Discover is its own payment network which Capital One could move to and keep a few dollars in house.
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Said it in another in other words though the anti-trust is worth another post . There are in roughly 25 years about have the amount of companies banks (when checked credit unions very similar time frame for halving too). Went in from the mid-1980s from around 14,000 banks to now about 4,000. We see in RJ’s home state on the credit union side Gabriels Credit Union bonus is gone away due to the merger with MSU Federal Credit Union. Between what you say RJ on the thoughts on the network on the credit side plus they own the Pulse network which has agreement on the banking side with the vast amount of banks on the banking side.