By Connor Hart
--The U.S. Justice Department told financial regulators it didn't have sufficient evidence to block the proposed $35 billion merger between Capital One Financial and Discover Financial Services, the New York Times reported, citing two people with knowledge of the matter.
--The department sent a memo to the Federal Reserve and the Office of the Comptroller of Currency, which are the two banking regulators that must sign off on the deal, stating it had concluded its investigation and did not believe there were concerns that warranted blocking the deal, the report said.
--The finding marks a reversal in thinking, as the proposed deal was initially met by concerns that it could harm consumers, according to The New York Times report.
Full article at https://www.nytimes.com/2025/04/03/business/dealbook/capital-one-discover-merger.html
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 03, 2025 14:36 ET (18:36 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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