Discover bank’s parent holding company, discover financial services and its subsidiary, dfs services llc.The federal . Reserve said in a friday (april ) press release that the consent order and fine . Have to do with overcharging certain interchange fees from through in the same press release, . The federal reserve said it approved the application by capital one financial to merge with . Discover financial services and thereby indirectly acquire discover bank.
Since Terminated These Practices and
“discover has since terminated these practices and . Is repaying those fees to affected customers,” the release said of the overcharging of they will then identify the right interchange . Fees. “the board’s action is being taken in coordination with the federal deposit insurance corporation. . As a condition of the board’s approval of the merger application, capital one has committed . That it will comply with the board’s action against discover, including remediation requirements.
Said in a Friday Press
”capital one said . In a friday press release that it has received all the regulatory approvals needed to . Complete the transaction and that it expects the public information shows that the underlying assets transaction to close may , subject to . Customary closing conditions.It was reported in february that capital one expected the process of fixing . Discover financial’s regulatory challenges to be long and expensive.Recommendedfdic and federal reserve fine discover, alleging .
Card Misclassificationfundingthis Week in Fintech: From
Credit card misclassificationfundingthis week in fintech: from latin america to africa, funding focuses on bb . And platformstoku, funding, investments, bb, automation, accounts receivabletoku raises $ million to expand ar automation . Platform fax database in latin americabusiness finance teamearnings see businesses embrace working capital flexibility as growth pausessee . More in: bank regulations, banking, banks, capital one, credit cards, dfs services, discover bank, discover . Financial services, fdic, federal reserve, fines, legal, mergers, news, pymnts news, what’s hotthis week in .
From Latin America to Africa Funding
Fintech: from latin america to africa, funding focuses on bb and platformsby pymnts | april . , | funding highlightsdespite economic uncertainties, vc and private equity investment in fintech is showing . Signs of recovery — at least as seen through several recent announcements.Current funding trends indicate . A strong focus on bb fintech solutions and platform development across the globe.Investment activity is .
