Capital One $35 Billion Purchase Of Discover Financial Gets Regulatory Approvals

P_D_1 | Apr 19, 2025 | 407 posts since 2025

NEW YORK (AP) — The pending merger between Capital One and Discover Financial services received approval from several regulators Friday, bringing the $35 billion tie-up closer to completion.

The Federal Reserve and the Office of the Comptroller of the Currency signed off on the deal, which was first announced in February 2024.

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deplorable_1 | Apr 20, 2025 | 2,185 posts since 2020

Any idea if they will keep Discover? Sad to see the first reward card go away. 5% bonus categories are the best. Plus the discounted gift cards were a nice perk. Although lately almost nothing in the 20% category...possibly a sign of whats to come?

Capital One needs a straight 2.5% card if they really want to compete with all the other 2% cards now. 1.5% ain't cutting it anymore. Maybe after the merger they might offer something good for a change.

sams1985 | Apr 21, 2025 | 779 posts since 2022

I was reading about the merger this morning and figured i would check in with the old crew- any implications for the Discover 5% 60 month brokered CD's many of us picked up a few years back? A bit concerned since mine matures in 2028 and i rely on the income.

Oh and if i also have a Capital One CD - will the FDIC coverage also merge resulting in me being over the limit? (assuming both maxed out on FDIC coverage)

Oh and of course- PD congratulations on your election win. Surely, you've calmed down a bit since the country is now fixed.

txFish1 | Apr 21, 2025 | 468 posts since 2023

sams1985
I am in the same boat as you as I bought a large block of those Discover 5% 60 month brokered CD's at Fidelity and I also have some funds in the Capital one 360 savings account as I like to keep some money at a Brick and Mortar bank not far from me. I was curious about the FDIC coverage so I contacted my assigned advisor at Fidelity last Friday and asked this question and have not received a reply as of yet.

sams1985 | Apr 21, 2025 | 779 posts since 2022

txFish1, nice to hear from you- hope you've been well...keep us updated if you get any information from Fidelity.

txFish1 | Apr 21, 2025 | 468 posts since 2023

sams1985, all is well and hope you have been well also. I usually hear back from him in a day or so and will keep you posted

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