The Federal Trade Commission approved First Data Corp.'s $6.7 billion merger with First Financial Management Corp. Thursday, but at least one agency official warned that future deals may not be approved so easily.

FTC Commissioner Christine A. Varney said she is concerned with the lack of competition in the card processing industry. The First Data deal would create a company with nearly 45% marketshare.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.