💨 Abstract

Capital One Financial has received final regulatory approval to acquire Discover Financial, making it the nation's largest issuer of credit cards. The $35 billion deal, which is expected to close on May 18, has been approved by the Federal Reserve, the Office of the Comptroller of the Currency, and the Justice Department. Capital One will control one-third of the credit card market for subprime borrowers and has significant assets and deposits.

Courtesy: wtop.com

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