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US Senator Schumer demands Capital One, Discover provide information on proposed deal

( April 8, 2024, 22:31 GMT | Official Statement) -- MLex Summary: US Senate Majority Leader Chuck Schumer has demanded information from Capital One and Discover on their proposed merger, including details on market shares, historical APR and annual fee trends, planned layoffs and "quantified details about the synergies the deal is expected to produce." Consolidation in the credit card industry could potentially harm smaller subgroups of consumers, including young people, the elderly or individuals with bad credit, Schumer's statement said. Statement follows in full. ...

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