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International Business Times
International Business Times
National
IBT Staff Reporter

Capital One Eyes Discover Acquisition In Credit Card Industry Shake-Up

Discover Capital One United States

Capital One is exploring the possibility of acquiring Discover, a significant participant in the US credit card market. According to the Wall Street Journal, should discussions advance, Discover's worth may exceed its existing market valuation of $28 billion.

However, Discover has faced financial challenges recently, including a notable 62% profit decline in the fourth quarter, attributed to ongoing compliance and risk-management issues. The departure of its President and CEO, Roger Hochschild, amid regulatory scrutiny further complicates matters.

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