How Capital One’s acquisition of Discover could impact consumers
Opposing views emerge on whether Capital One's purchase of Discover will help or harm consumers
CEI’s John Berlau is cited in Fox Business on the acquisition:
John Berlau, director of finance policy at the Competitive Enterprise Institute (CEI), said in a statement, “This proposed merger of a credit card issuer with one of the relatively smaller credit card networks comes at a time when there are numerous payment options, including Venmo and Zelle, and new credit options such as buy-now-pay-later.”
He noted that Discover is the fourth-largest payment network, and far behind its rivals in its share of the credit card market.
“By boosting this card network’s resources, the merger could actually create more robust competition against Discover’s bigger rivals, leading to an increase in benefits for consumers,” Berlau argued.
Read the full article on Fox News.