Hi everyone I'm Rose Marie Miller here with Emily Mason, a Forbes reporter here to discuss

Capital One's 35 billion dollar takeover of Discover.

Thank you so much for joining me today, Emily.

Thank you.

I'm happy to be here.

So Emily, can you elaborate on the key details of Capital One's $35 billion bid to acquire Discover Financial Services? of scrutiny. Yeah, of course.

So Capital One is the fourth largest credit lender in the United States,

and they are proposing to acquire a Discover,

which is the fifth largest.

So this, if the deal goes through, we'll create kind of the first largest lender in the United States, even surpassing

J.P. Morgan by a credit volume.

So that's significant.

And then the part that my story kind of focuses on more

is that Capital One will also gain control

of the Discover network, which

has some really interesting implications for them.

And you said it'll become the largest surpassing JP Morgan. How do you foresee this impacting the competitive landscape especially consider discovers current standing in market reach?

Yeah, I think some people are really concerned sort of about the

consolidation and financial services and particularly in credit lenders. The

CFPB put out a report the other week saying that the largest credit lenders, the CFPB put out a report the other week saying that the largest

credit lenders kind of charge more fees than the smaller ones, like community banks or even

regional lenders.

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