Capital One to Regulators: Discover Deal Will Increase Competition

Capital One says its planned $35.3 billion purchase of Discover will boost competition.That’s according to a report Thursday (March 21) by Reuters, citing information shared by a source who had seen the bank’s regulatory application.The filing also argues the deal won’t hinder competition in the credit card space, as the combined company will make up about 13% of credit card purchasing volume, which Capital One contends is the best measure of credit card market share, the sources told Reuters.Capital One an ...