Coalition of advocacy groups warn that deal would ‘further concentrate risk’ in the financial system and ‘must be stopped’
Regulators have been urged to block Capital One’s $35bn takeover of Discover by campaigners who say the blockbuster deal is “dangerous, illegal, and must be stopped”.
Urging the Federal Reserve and Department of Justice to intervene, a coalition of more than a dozen advocacy groups cautioned that combining two of the largest credit card companies in the US would damage competition and “further concentrate risk” in the financial system.
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