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Capital One gets green light to buy Discover for $35B and form credit card giant

The pending merger between Capital One and Discover Financial Services received approval from several regulators Friday, bringing the 35billiontieupclosertocompletion.TheFederalReserveandtheOfficeoftheComptrolleroftheCurrencysignedoffonthe deal,whichwasfirstannouncedinFebruary2024.TheFederalReserveBoardsaiditenteredintoaconsentorderwithDiscoverandassessedafineof35 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.The Federal Reserve Board said it entered into a consent order with Discover and assessed a fine of 100 million for overcharging certain interchange fees from 2007 through 2023. Discover has since ter ...