U.S. bank regulators extend comment period on Capital One-Discover deal

By Thomson Reuters Apr 24, 2024 | 1:58 PM

WASHINGTON (Reuters) – U.S. bank regulators announced Wednesday they were extending the comment period on Capital One’s bid to acquire Discover Financial to allow more time for feedback.

The public will now have until May 31 to weigh in on the pending $35 billion deal, which would create the sixth-largest bank and a payments giant. Previously, comments were due by April 26. The deal is expected to face regulatory scrutiny, as Democratic President Joe Biden’s administration has focused on boosting competition in all areas of the economy.

(Reporting by Pete Schroeder)