The purchase of Discover Financial Services forms the largest credit card issuer by loan volume in the United States.
The combined entity positions as a direct competitor to industry giants Visa and Mastercard.
Capital One
Financial Corporation (NYSE: COF) has completed its acquisition of Discover
Financial Services, culminating a 15-month process that transforms the company
into the largest credit card issuer by loan volume in the United States.
Capital One Completes
Acquisition of Discover
The
transaction, first
announced on February 19, 2024, received final regulatory clearance last
month from the Federal Reserve and the Office of the Comptroller of the
Currency (OCC), despite initial regulatory uncertainty during the previous
administration.
Richard D. Fairbank, Founder and CEO of Capital One
“This
deal brings together two innovative, mission-driven companies that together are
poised to deliver breakthrough products and experiences to consumers,
businesses, and merchants,” said Richard D. Fairbank, Founder and CEO of
Capital One.
The
combined entity now controls the Discover payments network, positioning it as a
direct competitor to industry giants Visa and Mastercard. The acquisition
represents a significant shift in the payments landscape, giving Capital One
both issuing capabilities and network ownership.
The deal
faced scrutiny throughout its approval process, with some Congressional
Democrats voicing opposition on grounds that it could harm consumers and
potentially threaten financial stability. However, the regulatory environment
shifted following the recent presidential transition.
As part of
the approval conditions, the OCC required Capital One to outline corrective
actions addressing Discover's outstanding enforcement issues. These stemmed
from a 2023 disclosure that Discover had been overcharging merchants for
certain credit card transactions since 2007.
Final
approvals came from the Federal Reserve and OCC on April 18, 2025, following
the Delaware State Bank Commissioner's approval in December 2024. Stockholders
of both companies voted in favor of the transaction on February 18, 2025.
Board Expansion
In
connection with the merger, Capital One has expanded its Board of Directors
from 12 to 15 members, appointing three former Discover board members: Thomas
G. Maheras, Michael Shepherd, and Jennifer L. Wong.
For now,
customer accounts and banking relationships remain unchanged at both
institutions. “Customers will be provided with comprehensive information
in advance of any forthcoming changes. Until then, customers do not need to
take any action,” the company stated.
Community Investment
Initiatives
The
acquisition triggers implementation of Capital One's $265 billion Community
Benefits Plan, developed in partnership with community organizations. The plan
aims to advance lending, investment, and services to strengthen economic
opportunity across America.
As of March
31, 2025, the combined financial holding company reported $367.5 billion in
deposits and $493.6 billion in total assets. Capital One trades on the New York
Stock Exchange under the symbol “COF” and is included in the S&P
100 index.
Fairbank
acknowledged the leadership of Discover's Board and interim CEO Michael
Shepherd as instrumental in reaching this milestone, adding, “Through the
efforts of thousands of associates across Capital One and Discover, we are
well-positioned to continue our quest to change banking for good for millions
of customers.”
Capital One
Financial Corporation (NYSE: COF) has completed its acquisition of Discover
Financial Services, culminating a 15-month process that transforms the company
into the largest credit card issuer by loan volume in the United States.
Capital One Completes
Acquisition of Discover
The
transaction, first
announced on February 19, 2024, received final regulatory clearance last
month from the Federal Reserve and the Office of the Comptroller of the
Currency (OCC), despite initial regulatory uncertainty during the previous
administration.
Richard D. Fairbank, Founder and CEO of Capital One
“This
deal brings together two innovative, mission-driven companies that together are
poised to deliver breakthrough products and experiences to consumers,
businesses, and merchants,” said Richard D. Fairbank, Founder and CEO of
Capital One.
The
combined entity now controls the Discover payments network, positioning it as a
direct competitor to industry giants Visa and Mastercard. The acquisition
represents a significant shift in the payments landscape, giving Capital One
both issuing capabilities and network ownership.
The deal
faced scrutiny throughout its approval process, with some Congressional
Democrats voicing opposition on grounds that it could harm consumers and
potentially threaten financial stability. However, the regulatory environment
shifted following the recent presidential transition.
As part of
the approval conditions, the OCC required Capital One to outline corrective
actions addressing Discover's outstanding enforcement issues. These stemmed
from a 2023 disclosure that Discover had been overcharging merchants for
certain credit card transactions since 2007.
Final
approvals came from the Federal Reserve and OCC on April 18, 2025, following
the Delaware State Bank Commissioner's approval in December 2024. Stockholders
of both companies voted in favor of the transaction on February 18, 2025.
Board Expansion
In
connection with the merger, Capital One has expanded its Board of Directors
from 12 to 15 members, appointing three former Discover board members: Thomas
G. Maheras, Michael Shepherd, and Jennifer L. Wong.
For now,
customer accounts and banking relationships remain unchanged at both
institutions. “Customers will be provided with comprehensive information
in advance of any forthcoming changes. Until then, customers do not need to
take any action,” the company stated.
Community Investment
Initiatives
The
acquisition triggers implementation of Capital One's $265 billion Community
Benefits Plan, developed in partnership with community organizations. The plan
aims to advance lending, investment, and services to strengthen economic
opportunity across America.
As of March
31, 2025, the combined financial holding company reported $367.5 billion in
deposits and $493.6 billion in total assets. Capital One trades on the New York
Stock Exchange under the symbol “COF” and is included in the S&P
100 index.
Fairbank
acknowledged the leadership of Discover's Board and interim CEO Michael
Shepherd as instrumental in reaching this milestone, adding, “Through the
efforts of thousands of associates across Capital One and Discover, we are
well-positioned to continue our quest to change banking for good for millions
of customers.”
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
“The US Is Still Our Core, Asia Is Where Growth Happens”: How Singapore Family Offices Balance Scale and Opportunity
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
