NEW YORK - New York Attorney General Letitia James is investigating whether Capital One's proposed $35.3 billion takeover of Discover Financial Services (NYSE:
She also said the impact of a merger would be"particularly felt by the often vulnerable New Yorkers with subprime credit scores." A merger would also help Capital One, which issues Visa- and Mastercard-branded cards, expand its payment operations. Discover agreed to a full waiver but Capital One did not, claiming it would give New York unlawful"visitorial power" over national banks, leading to the subpoena, James said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: