Capital One and Discover merger approved by Federal Reserve Board

Sign at the entrance to a Capital One bank branch in Manhattan.Capital One Financial's application to acquire Discover Financial Services in a $35.3 billion all-stock deal has officially been approved by the Federal Reserve and the Office of the Comptroller of the Currency, the regulators announced on Friday."The Board evaluated the application under the statutory factors it is required to consider, including the financial and managerial resources of the companies, the convenience and needs of the communiti ...