Capital Ones acquisition of Discover will be a win for consumers
Summary
is rife with benefits for American consumers, merchants and small businesses in the form of varying payment options, stability, access to capital in all communities and higher deposit rates. According to an published by the North Carolina Banking Institute, "[a]ctivists have used the statute to magnify their political importance, to gain special favors for themselves and their leaders, to obtain funding for pet projects, or garner direct logistical or financial support for their operations." As drafted, the would significantly burden Category III banks by applying stricter capital standards for , which includes and rewards programs, and mortgage servicing assets. The proposed regulations would also require Category III banks to account for unrealized gains and losses for available-for-sale, or AFS, securities in their capital calculations. More competition in payments and compliance with current anti-redlining laws give no credence to activists claiming the merger will harm Americans.