Ally hires new CEO, setting off dominoes at Discover:
Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes ...
americanbanker.com/news/ally-hires-new-ceo-setting-off-dominoes-at-discover
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Discover Financial says CEO Michael Rhodes will step down after brief stint: Discover Financial Services said on Wednesday its CEO Michael Rhodes will step down ...
reuters.com/business/finance/discover-financial-says-ceo-michael-rhodes-will-step-down-2024-03-27/
Discover CEO Michael Rhodes resigns to become Ally’s head: The Riverwoods-based financial services firm said Rhodes was not expected to have a long-term role at ...
wirehub.medianewsgroup.com/2024/03/27/discover-ceo-michael-rhodes-resigns-to-become-allys-head/
Discover CEO Michael Rhodes Resigns to Lead Ally: Discover Financial Services Chief Executive Officer Michael Rhodes is leaving the credit-card company to become ...
bloomberg.com/news/articles/2024-03-27/discover-ceo-michael-rhodes-stepping-down-to-become-ally-s-head
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Capital One foreshadows changes to select credit cards : Capital One (COF) could be preparing to transition several of its branded credit cards to the Discover ...
star-telegram.com/news/business/article314870315.html
What's next for CFPB, $35B Capital One-Discover merger in June: The Consumer Financial Protection Bureau's erosion and the second phase of the Capital One merger ...
americanbanker.com/news/cfpbs-next-steps-35b-capital-one-discover-merger-in-june
Capital One officially acquires Discover in $35 billion deal: Capital One acquired Discover in an all-stock transaction valued at $35.5 billion.
businessinsider.com/capital-one-acquires-discover-credit-card-companies-2025-5
Paid articlePaywallCapital One Finishes Discover Acquisition After 15-Month Journey: Almost 15 months after its announcement, Capital One Financial Corp.’s takeover of Discover ...
bloomberg.com/news/articles/2025-05-18/capital-one-finishes-discover-acquisition-after-15-month-journey
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Warren Asks the Fed to Reconsider Approval of Capital One-Discover Merger: "This decision will inflict serious harm on consumers and merchants ...
commondreams.org/news/warren-federal-reserve-capital-one-discover
Capital One and Discover’s $35.3B Merger Approved — Here’s What It Means for Your Wallet
kiplinger.com/personal-finance/credit-cards/capital-one-and-discovers-merger-approved-heres-what-it-means-for-your-wallet
Consumers Keep Bailing Out the Economy. Now They Might Be Maxed Out.: Recession fears rekindle concerns that Americans are overstretched on debt
wsj.com/economy/consumers/consumer-credit-debt-economy-impact-634eda8d
Paid articlePaywall Ally's new CEO starts reassembling its team of top executives: A new chief risk officer was among the appointments announced Wednesday, as CEO Michael Rhodes ...
americanbanker.com/news/allys-new-ceo-starts-assembling-his-team-of-top-executives
Barron's May 21 24
Savings Account Rates Are Falling. Why Some Banks Are Paying Less.: Online savings accounts have long been a refuge for people looking for the highest savings ...
barrons.com/articles/bank-account-online-savings-interest-rate-b8bfb6b2
Paid articlePaywall Regulators must reject the Capital One-Discover deal: If Capital One successfully buys Discover Financial Services, it would create an entity with an enormous ...
americanbanker.com/opinion/regulators-must-reject-the-capital-one-discover-deal
Even before Fed cuts rates, banks trim what they pay for deposits: Some online banks that offer high-yield savings accounts are making those products a little ...
americanbanker.com/news/even-before-fed-cuts-rates-banks-trim-what-they-pay-for-deposits
Will the Capital One-Discover merger be approved? A guide to the issues: Banking regulators and the Department of Justice must decide whether the blockbuster ...
americanbanker.com/news/will-the-capital-one-discover-merger-be-approved-a-guide-to-the-issues
Small Business Trends Mar 05 24
Capital One to Acquire Discover: Capital One acquires Discover, creating a payments giant with an expansive reach of 70 million merchant acceptance points across ...
smallbiztrends.com/2024/03/capital-one-to-acquire-discover.html
Capital One Prepared to Pay More Than Expected to Fix Discover: Capital One Financial Corp. predicted the time and expenses needed to fix Discover Financial ...
bloomberg.com/news/articles/2024-02-27/capital-one-says-discover-fixes-could-cost-more-than-expected
Paid articlePaywallKey FactsDemocrats Call for Halt to Capital One-Discover Deal
Feb 26, 2024 · Reading time: ~30 sec.
Summary created with AI assistance · Source: washingtonpost.com
Summary created with AI assistance · Source: washingtonpost.com
- Thirteen top Democrats in Congress called on the Biden administration to reject the merger between Capital One and Discover, citing concerns over reduced customer choice and high fees.
- The proposed merger would create the largest credit card lender in the U.S. by combining Capital One's banking and card businesses with Discover's assets.
- Under the strong leadership of Sen. Elizabeth Warren (D-Mass.), Democrats also urged a reevaluation of the government's lenient approach to bank mergers to curb consolidation in the financial industry.
- The pressure on Capital One and Discover to gain approval from federal regulators highlights the political challenge they face, with Democrats pushing for the merger to be blocked and future harmful deals to be prevented.
‘Before any crash it felt great’: Jamie Dimon isn’t sold on the good news coming out of the U.S. economy, saying it may prove a precursor of a recession
fortune.com/2024/02/27/jamie-dimon-jpmorgan-chase-american-economy-crash-1972/
Paid articlePaywallKey FactsJPMorgan CEO Dimon Optimistic Yet Cautious
Feb 26, 2024 · Reading time: ~30 sec.
Summary created with AI assistance · Source: reuters.com
Summary created with AI assistance · Source: reuters.com
- JPMorgan Chase CEO Jamie Dimon says market sentiment is improving but maintains caution.
- Despite rising market confidence, Dimon expressed concerns about economic outlook.
- He warned of geopolitical tensions and welcomed regulatory scrutiny in private credit markets.
- Dimon responded positively to competition and mergers, emphasizing fair competitive conditions.
Capital One’s Discover deal includes $1.38 billion breakup fee: Capital One Financial Corp.’s proposed acquisition of Discover Financial Services includes a $1 ...
chicagotribune.com/2024/02/23/capital-ones-discover-deal-includes-1-38-billion-breakup-fee/
Capital One to buy Discover for $35 billion: Capital One Financial is buying Discover Financial Services for $35 billion, in a deal that would bring together two ...
apnews.com/article/capital-one-discover-financial-merger-credit-cards-3444782717e668b896883f09bda27baa
Key FactsCapital One Plans $35 Billion Discover Acquisition
Feb 20, 2024 · Reading time: ~45 sec.
Summary created with AI assistance · Source: huffpost.com
Summary created with AI assistance · Source: huffpost.com
- Capital One said it intends to buy Discover in an all-stock transaction valued at $35 billion.
- Discover shareholders would receive Capital One shares valued at nearly $140; the Friday closing price was $110.49.
- Access to Discover’s payment network could strengthen Capital One’s competition with Visa and Mastercard; future usage remains unclear.
- Regulatory approval remains uncertain, while the National Community Reinvestment Coalition raised significant antitrust concerns.
The deal also poses massive anti-trust concerns, given the vertical integration of Capital One’s credit card lending with Discover’s credit card network.— Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition, commenting on the deal’s antitrust implications
Credit-card crackdown will net limited rewards: With more than two open accounts for every American, credit cards are practically part of the family ...
reuters.com/breakingviews/credit-card-crackdown-will-net-limited-rewards-2023-06-22/
Online Banks Are Winning the Deposit War: Deposits rose recently at Ally, Goldman Sachs’s Marcus and Capital One, banks that either don’t have branch networks or ...
wsj.com/articles/online-banks-are-winning-the-deposit-war-8f7e16b9
Sezzle and banking partners go beyond buy now/pay later: The fintech is working with Discover, Ally and Alliance Data to offer a wider range of products on top ...
americanbanker.com/payments/news/sezzle-and-banking-partners-go-beyond-buy-now-pay-later
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