Capital One

The credit card giant must reckon with the high costs of integration before it can start reaping the benefits from its landmark acquisition. CEO Richard Fairbank said Tuesday that those costs will exceed the company's original $2.8 billion guidance.

This could be the second year in a row that the market for U.S. bank preferred shares has shrunk, something that hasn't happened since the lenders were replacing obsolete capital after the global financial crisis.

Synchrony issued the Walmart credit card for nearly two decades until 2018, when it lost the partnership to Capital One Financial. The latest deal does not include the balances tied to Walmart's existing credit card program.

Richard Fairbank will receive the restricted stock units in recognition of his work related to the integration of Discover into Capital One, the company disclosed.

The credit-card issuer, which recently closed its acquisition of Discover, hopes to become a true competitor with Visa and Mastercard. It won't happen right away, but analysts expect a large potential payoff if the multiyear push goes well.

Now that Capital One Financial's bid for Discover Financial Services is finalized, take a look back on the hurdles the deal faced across its 15 month marathon.

The tentative settlement represents a step toward resolving an issue that hung over Capital One's acquisition of Discover. That blockbuster deal closed on Sunday.

Almost 15 months after its announcement, Capital One Financial Corp.'s takeover of Discover Financial Services was officially completed on Sunday, creating the largest credit-card issuer by loan volume in the US.

New York Attorney General Letitia James is accusing Capital One of deliberately deceiving customers and obscuring higher interest rates. The lawsuit comes less than three months after the CFPB dropped a similar case against the bank.

Senate Banking Committee ranking member Elizabeth Warren is pushing the Department of Justice to use its power to halt the deal, already approved by bank regulators.