To close may , subject to customary closing conditions, they said in a friday press . Release.“this is an exciting moment for capital one and discover,” capital one founder, chairman and . Ceo richard fairbank said in the release. “we understand the critical importance of a strong . And competitive banking system to our customers and our economy, and we appreciate the thoughtful .
Diligent Engagement of Our Regulators as
And diligent engagement of our regulators as discover effective ai marketing tactics they thoroughly reviewed this deal over the past . Months.”discover interim ceo and president michael shepherd said in the release: “this combination of our . Two great companies will increase competition in payment networks, offer a wide range of products . To our customers, increase our resources devoted to innovation and security, and bring meaningful community . Benefits.
Announced the Proposed Acquisition in February
”Capital one announced the proposed acquisition in february , saying the all-stock transaction, valued at . $ billion, will create a global payments platform with million merchant acceptance points in more . Than countries and territories.In july, facing why do you need a marketing strategy? some criticism from community groups that feared the planned . Takeover would reduce services and increase costs for americans, capital one said that a combination . Of capital one and discover would provide more benefits to underserved communities than the companies .
Offer Separately the Federal Reserve Board Announce
Would offer separately.The federal reserve board announce its approval of the propose merger in a . Friday press release, saying: “the board evaluate the application under the statutory factors it is . Require to consider, including the financial b2c fax and managerial resources of the companies, the convenience and . Needs of the communities to be serve by the combinedorganization, and the competitive and . Financial stability impacts of the proposal.
Said in a Friday Press Release
”the occ said in a friday press release announcing its . Conditional approval of the deal that it made its decision after analyzing the effect of . The merger on communities, the banking industry and the u.S. Financial system.The regulator said its . Approval is conditioned upon approved plans to address and remediate any outstanding enforcement actions against . Discover.“the occ is committed to a regulatory framework that expands access to financial services for .
