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From @Breakingviews: Visa and Mastercard have settled a long-running feud with retailers, who can now pass along higher costs to shoppers who use certain cards. That could erode the appeal of cards with generous rewards programs, explains Anita Ramaswamy https://t.co/ixX7Dev3NP https://t.co/YGD01fsrHh
Biden's Trust Busters want to block Capital One's bid to acquire Discover, claiming it reduces credit card competition. But with Visa & Mastercard dominating 80% of the market, is this move really necessary? Read more --> https://t.co/FVw6Sgk2F0 https://t.co/6drTCaROek
Capital One/Discover: Merger Application Ignores Biggest Competition Risks, Antitrust Advocates Say $AXP $COF $DFS $MA $V h/t @SaraLSirota https://t.co/bQUmFkueMS
The White House is attempting to prevent Capital One from acquiring Discover, with concerns raised about the impact on credit card competition. Senator Warren argues that the merger would harm consumers, citing Capital One's high rates. Antitrust advocates warn of significant competition risks in the potential merger. Visa and Mastercard's resolution with retailers may lead to increased costs for shoppers using certain cards, affecting rewards programs.