Search results
Results from the WOW.Com Content Network
On February 19, Capital One announced it would acquire Discover in an all-stock transaction worth $35.3 billion. Both companies are among the largest credit card issuers in the country while ...
Most cards with the Discover brand are issued by Discover Bank, formerly the Greenwood Trust Company. Discover transactions are processed through the Discover Network payment network . In 2005, Discover Financial Services acquired Pulse , an electronic funds transfer network, allowing it to market and issue debit and ATM cards.
Discover’s customers are carrying $102 billion in balances on their credit cards, up 13% from a year earlier. Meanwhile, the charge-off rates and 30-day delinquency rates have climbed.
In February 2024, Capital One announced it planned to merge with Discover Financial for over $35 billion. [1] [2] [3]In September 2024, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the United States Department of Justice Antitrust Division instituted new guidelines which call for stricter reviews of bank deals.
NEW YORK/WASHINGTON (Reuters) -Warren Buffett-backed U.S. consumer bank Capital One plans to acquire U.S. credit card issuer Discover Financial Services in an all-stock transaction valued at $35.3 ...
The Discover More card was designed for consumers who use credit in many different categories and provided them with more ways to earn cash back on their purchases. Following the 2007–2008 financial crisis, Discover received about $1.2 billion in bailout funds under the Troubled Asset Relief Program (TARP). The company announced in 2010 that ...
Under the agreement, Discover shareholders would receive 1.0192 Capital One shares for each Discover share or about a 26% premium from Discover’s Friday closing price of $110.49.
In 1995, it launched Pulse Pay, a point-of-sale service where cardholders can use their ATM card at retailers. Pulse announced the acquisition of Gulfnet , a Louisiana -based regional EFT network in 1997 and announced the acquisition of the Cincinnati-based MoneyStation network in 2000.