Through this deal, Capital One intends to merge two companies that can deliver solutions that fit the needs, demands, and preferences of the industry. Also, the merger can support the development of the payment networks sector, as, by combining their capabilities, the organisations can offer a wider range of financial products and services.
Initially, the move was announced in February 2024 by Capital One, with the company mentioning that it entered a definitive agreement to acquire Discover. Also, during that time, the stockholders of Capital One and Discover voted in favour of the initiative. The acquisition received approval from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency in April 2025. The completion of the regulatory review came after a 14-month evaluation period, with regulators assessing the potential impacts of the deal on competition and market dynamics.
Currently, Capital One and Discover customer accounts and banking relationships are not seeing any changes. Users are set to be offered comprehensive information before any forthcoming modifications. Until that time, customers are not required to take any action and will continue to be provided services via their respective Capital One and Discover customer tools and channels. Additionally, Capital One seeks to continue to facilitate Discover credit card products as Discover-branded cards, together with the other consumer cards delivered by Capital One. As part of their offering, the companies plan to also include Discover PULSE and Diners Club International networks.
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