- Capital One is readying an acquisition of Discover Financial Services, according to The Wall Street Journal.
- The deal would merge two of the largest credit-card issuers in the US.
- Discover is coming off a difficult year after compliance lapses led to a CEO resignation.
What’s in your wallet?
A monopoly.
Actually this could be a good thing. Cap one is the 4th largest credit card issuer in the USA. If they cut tx fees on discover low enough it would force Visa/MC to cut theirs. They could make a mint and the consumer would benefit as well.
For anyone who comes across this, here is some data to chew on.
https://lemmy.world/comment/7731863
Because that’s why companies merge and form monopolies, to lower fees and help consumers. Right? Right guys? Right?
I didn’t say it would happen just that it could. It’s actually a smart play by cap one if they are planning on it.
You know what. Fuck this shit. I come on forums like this to have actual discussions and not just to join a circle jerk bashing whatever is being talked about.
Does anyone know where I can find legit discussion about this stuff and not people who can’t discuss business, economics and finance so instead they just talk shit while stroking themselves off?
For anyone who comes across this, here is some data to chew on.
https://lemmy.world/comment/7731863
The investing subreddit on Reddit is pretty good for that. Although in the case of your comment, I don’t think it would find much traction, since it seems implausible.
How did that work out for the airline industry? Because history sure seems to indicate that these monopolistic mega-mergers result in higher prices for a worse experience.
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They won’t