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Capital One and Discover Financial Services are currently defending their proposed $35 billion merger in a US court. The companies are seeking to dismiss a consumer lawsuit in Virginia that claims the merger would reduce competition and increase prices. Additionally, Capital One is facing a proposed class action lawsuit alleging that it disclosed personal and financial information of millions of consumers to third parties, including Meta, Google, and Microsoft, without consent. A top regulator has expressed concerns about the merger, suggesting it could lead to higher fees, less choice, and more market concentration. Capital One has labeled the lawsuit as 'speculative.'
Capital One is facing a proposed class action alleging the financial giant disclosed the personal and financial information of millions of consumers to Meta, Google, Microsoft and other third parties without their consent. https://t.co/WH92atkSiO
Capital One slams 'speculative' consumer lawsuit over $35 bln Discover deal https://t.co/orSKNssGJm https://t.co/8hNPVh9UpS
Capital One and Discover Financial Services are defending their proposed $35 billion merger in a US court, asking a Virginia judge to dismiss a consumer lawsuit that claimed the deal will reduce competition and drive up prices https://t.co/uHpVOMcg1Z https://t.co/Hvq2a4TQjL
