Capital One

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.

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.

Large banks are starting to disclose the compensation they awarded to their CEOs last year. Early signs point to a bounceback after CEO pay fell in 2023.

CEO Richard Fairbank told analysts executives have their "microscopes" out for any signs of trouble, but consumers remain "in a great place."

A power outage and hardware failure at fintech FIS last week delayed deposits and payments at 27 banks, including Capital One.

The bank didn't give some existing customers the higher rates it was offering new customers, the agency alleged. The bank said it would fight the suit, which comes just days before the Trump administration takes over the regulator.