The Bank Slate


OCC, Fed to hold July public meeting to discuss Capital One-Discover deal

The Office of the Comptroller of the Currency and the Federal Reserve will hold a virtual meeting on July 19 to let the public comment on Capital One Financial’s pending purchase of Discover Financial.

Capital One agreed in February to buy Discover for $35.3 billion.

The OCC and Fed also said that people who want to present at the meeting must register by June 28 through an online registration website. The agencies also extended the comment period for the merger to July 24.

The July meeting will cover issues such as the merger’s impact on communities served by both companies; competition in the markets they serve; the deal’s impact on the U.S. financial system; and each company’s effectiveness fighting fraud.

“The purpose of the public meeting is to collect information from a wide range of stakeholders as the agencies evaluate the applications,” the agencies said in the release.

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