Investopedia – Justice Department Won’t Challenge Capital One-Discover Merger, Report Says By Sarina Trangle Published April 03, 2025 03:54 PM EDT The news removes one potential roadblock for the proposed $35 billion merger of two of the U.S.’s largest credit card companies. The Federal Reserve or the Office of the Comptroller of the Currency could still block the deal, although they are generally viewed as less likely to object, the Times reported. Shares of Capital One and Discover shot up at midday Thursday after the report, though they were ultimately dragged lower amid a broad descent for stocks that began late Wednesday when President Donald Trump announced a fresh round of tariffs, prompting a broad market sell-off.
I’m familiar with both financial institutions and Discover is heads and tails more customer friendly than Capital One. I expect that won’t last long.
My letter to reps:
I’m concerned about the merger of Capital One taking over Discover and the monopoly situation with too big to fail banks. I think consolidation is bad.
Please feel free to copy or repurpose for your own letters to reps.