Capital One Exec Says In Conversation With U.S. Federal Reserve And Office Of Comptroller Of Currency On Discover Deal; Continue To Aim To Close Deal For Discover Financial In Late 2024 To Early 2025, In Line With Previous Expectations; On Returning Capital To Shareholders Says Watching Out For Basel III Endgame Implementation
Portfolio Pulse from Benzinga Newsdesk
Capital One is in discussions with the U.S. Federal Reserve and the Office of the Comptroller of the Currency regarding its acquisition of Discover Financial. The deal is expected to close between late 2024 and early 2025, as previously anticipated. Capital One is also monitoring the Basel III Endgame implementation concerning capital returns to shareholders.
June 11, 2024 | 7:15 pm
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POSITIVE IMPACT
Capital One is in discussions with regulators about its acquisition of Discover Financial, aiming to close the deal by late 2024 to early 2025. The company is also monitoring Basel III Endgame for capital returns.
The news indicates that Capital One is making progress on its acquisition of Discover Financial, which is a positive sign for investors. Additionally, the company's attention to Basel III Endgame suggests a proactive approach to regulatory compliance and capital management.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Discover Financial is the target of an acquisition by Capital One, with the deal expected to close between late 2024 and early 2025. This timeline aligns with previous expectations.
The confirmation of the acquisition timeline provides clarity and stability for Discover Financial investors, which is likely to have a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100