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1. finance.yahoo.com › news › york-probing-legalityNew York probing legality of Capital One-Discover merger

   finance.yahoo.com › news › york-probing-legality

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   6 days ago · New York Attorney General Letitia James is investigating whether Capital One's proposed $35.3 billion takeover of Discover Financial Services violates the state's antitrust law. ... $9.5 billion ...

2. www.bankingdive.com › news › ny-ag-letitia-jamesNY AG adds to scrutiny of Capital One-Discover deal

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   Oct 24, 2024 · The New York attorney general’s office is investigating whether Capital One’s proposed $35.3 billion acquisition of Discover runs afoul of the state’s antitrust law. NY AG Letitia James’ office filed a petition Wednesday asking a state judge to issue McLean, Virginia-based Capital One an out-of-state subpoena related to her probe.

3. www.pymnts.com › cpi-posts › new-york-attorneyNew York Attorney General Seeks Subpoena in Investigation of ...

   www.pymnts.com › cpi-posts › new-york-attorney

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   6 days ago · The attorney general’s lawsuit highlights that the merger could significantly impact the state, given that Capital One and Discover each hold substantial amounts of credit card...

4. www.bloomberg.com › news › articlesCapital One-Discover Deal Faces New York Antitrust Probe

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   Oct 23, 2024 · Capital One Financial Corp.’s proposed $35 billion acquisition of Discover Financial Services is being investigated by New York Attorney General Letitia James, who said the deal would have ...

5. srnnews.com › new-york-probing-legality-of-capitalNew York probing legality of Capital One-Discover merger

   srnnews.com › new-york-probing-legality-of-capital

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   Oct 26, 2024 · James asked a state judge in Manhattan in court filings on Wednesday to subpoena Capital One for documents needed for her probe, citing the bank’s alleged lack of cooperation. James said a merger could have a significant impact in New York because Capital One and Discover respectively have more than $9.5 billion and $6.5 billion of credit card loans there.

6. www.pymnts.com › cpi-posts › ny-attorney-generalNY Attorney General Probes Capital One’s $35B Discover Deal

   www.pymnts.com › cpi-posts › ny-attorney-general

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   Oct 23, 2024 · New York Attorney General Letitia James has initiated an investigation into Capital One Financial’s proposed acquisition of Discover Financial Services, expressing concerns about the...

7. People also ask

   Why did James ask a judge to subpoena Capital One?

   • James asked a state judge in Manhattan in court filings on Wednesday to subpoena Capital One for documents needed for her probe, citing the bank's alleged lack of cooperation.

   New York probing legality of Capital One-Discover merger

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   Did Capital One give discover a 'visitorial power' over national banks?

   • Discover agreed to a full waiver but Capital One did not, claiming it would give New York unlawful "visitorial power" over national banks, leading to the subpoena, James said.

   New York probing legality of Capital One-Discover merger

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   How did Capital One respond to James?

   • Capital One said in a statement that it would respond to James through appropriate legal channels, and was "well positioned" to win merger approval from federal banking regulators. "We have made a strong case on the pro-competitive and pro-consumer benefits of this transaction," it said. Discover did not immediately respond to requests for comment.

   New York probing legality of Capital One-Discover merger

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   How would a Capital One merger impact New Yorkers' credit scores?

   • She also said the impact of a merger would be "particularly felt by the often vulnerable New Yorkers with subprime credit scores." Capital One, based in McLean, Virginia, is one of the largest U.S. banks, with $480 billion of assets as of June 30.

   New York probing legality of Capital One-Discover merger

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   Should Capital One merge with discover?

   • A merger would also help Capital One, which issues Visa- and Mastercard-branded cards, expand its payment operations. The merger also requires approval by shareholders, the Federal Reserve and the Office of the Comptroller of the Currency. Capital One and Discover have said they hope to close by early 2025.

   New York probing legality of Capital One-Discover merger

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   What if Capital One merged with Visa & MasterCard?

   • James said the merger would extend Capital One's lead as the largest U.S. subprime card issuer, and give the combined company a market share of more than 30%. A merger would also help Capital One, which issues Visa- and Mastercard-branded cards, expand its payment operations.

   New York probing legality of Capital One-Discover merger

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8. eulerpool.com › en › newsChallenges for Acquisition: New York Attorney General ...

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   Oct 26, 2024 · The planned acquisition of Discover Financial Services by Capital One, valued at $35.3 billion, has come under the scrutiny of New York State antitrust regulators. ...