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Democratic chorus against proposed Capital One Discover merger grows louder ...Middle East
The proposed merger between credit card companies Capital One and Discover has Democrats on the House Financial Services Committee up in arms about corporate consolidation and what they see as lazy regulation of the financial sector. Sixteen Democrats on the House Financial Services Committee, including ranking member Maxine Waters (D-Calif.), penned a letter to the heads of the major financial regulatory agencies Wednesday, accusing them of “rubber stamping” big mergers and falling behind on updating their merger guidelines, a move requested by President Biden. “We strongly encourage your agencies to put away the rubber stamp and promptly finalize robust merger review procedures be
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