Capital One

The bank's chief technology risk officer details the journey the bank has taken over the last six years, and why it set out to get rid of passwords.

Capital One outlined some of its to-do items as it integrates with Discover, which include long-haul investments in technology, global marketing and risk management.

Both the Federal Reserve and the Office of the Comptroller of the Currency signed off on the $35 billion transaction, which has faced opposition since it was announced last February.

The proposed $35 billion merger between Capital One and Discover cleared a major regulatory hurdle as the Justice Department told financial regulators in a confidential memo that it didn't have sufficient evidence to block the transaction.

Following a media report that Department of Justice staffers have expressed concern about how Capital One's purchase of Discover would affect competition in the subprime credit market, analysts said the portfolio would be tough to sell. But they remain optimistic that the deal will get over the finish line.

Amid troubling news of tariffs and layoffs, dropping delinquencies offer a rare sign of consumer health.

President Donald Trump's company accused it of illegally "de-banking" him for political reasons by abruptly canceling hundreds of accounts for his real estate business after his first term ended in 2021.

Banks' latest annual reports, filed in the early weeks of the second Trump administration, provide a window into how the industry is adjusting to a new political climate.

The legendary investor expressed his inclination for equities even after selling large chunks of Berkshire Hathaway's investments in three major banks. "That preference won't change," Buffett wrote in his annual letter to shareholders.

The $35 billion transaction has faced pushback from critics on antitrust grounds since it was announced a year ago. The vote today puts the deal one step closer to closing.