#capitolone — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #capitolone, aggregated by home.social.
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$35 Billion #ProposedMerger of #CapitolOne taking over #Discover cards creates estimated billions in hidden synergies. Perhaps most insidiously is a way for #Delaware based Capital One to elude Sen #DickDurbin's debit fee caps that limited merchant fees on #DebitCard transactions since 2010. When Discover is both card issuer and "card network", it is exempt from fee caps and Capital One could immediately shift its products to that platform and reap lotsa extra #money. Discover bought the Pulse #ATM network in 2005, which made it a partner with 4,500 #banks.
https://www.wsj.com/finance/banking/how-discovers-network-helps-capital-one-take-on-card-and-banking-giants-1a3ef0e0?st=o7w8zcxx7mbr2at #GiftLink #Banksters #PaywallLift #WSJ