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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...From customer service chatbots to data migration and overhauling research and development in healthcare, Schweizer said BCG is helping companies use AI to cut costs and increase productivity....
...The backlog of customer service issues has emerged months after the German lender promised to quickly fix the widespread disruption caused by a botched IT migration project....
...New York-based Presidio provides IT services to some of the world’s largest companies, including Amazon, and government organisations....
...Michael Rhodes, who joined Discover in December, is headed to Ally Financial, where he will be chief executive of the financial services company that has long specialised in auto loans....
...Michael Rhodes, who only joined Discover in December, is headed to Ally Financial, where he will be CEO of the financial services company, which has long specialised in auto loans....
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...An OCC spokesperson said the agency had “not received a filing from Capital One regarding Discover Financial Services”....
...The lender agreed to buy Discover Financial Services on Monday for $35bn. Capital One is looking to wrap up that deal later this year or early 2025....
...On Monday, the Virginia-based bank said it had agreed to acquire Discover Financial Services for $35bn, to be paid all in stock....
...Capital One Financial, which is buying rival Discover Financial Services, is up 50 per cent. Americans held more than $1.1tn on their credit cards at the end of 2023, an all-time high....
...The enforcement action against KPMG was the result of a joint investigation by the PCAOB and the Dutch Authority for the Financial Markets (AFM), which will put the firm under enhanced supervision in the...
...Still, big financial services deals are going to bring scrutiny, and the likes of Senator Elizabeth Warren have already called for regulators to block the merger....
...Another 50 cents is collected by the merchant acquirer, or companies such as Block or Stripe that provide the shop’s point-of-sale service system....
...Moderna paid $1,053,767 for security services to Stéphane Bancel, after not disclosing any security payments for him the previous year....
Sellers will be able to charge different prices to consumers based on the card they use
...“We’ve seen a real, robust rebound from exceptionally low levels this period a year ago.”Among the largest deals struck in the quarter were Capital One’s $35bn acquisition of Discover Financial, and chip...
...They function as a place for depositors to safely store their cash and obtain other financial services beyond loans....
...As well as chief executive Mark Newman, the company placed chief financial officer Jonathan Lock and controller Camela Wisel on leave....
...They really want to start to solve real financial friction using forms of tokenised real world assets.”...
...Mark Mason, chief financial officer, told reporters that 7,000 employees had been given notice that their jobs had been eliminated since the reorganisation began, 2,000 more than the bank had previously...
...In July 2021, the SEC fined UBS Financial Services, now owned by Credit Suisse, $8mn for holding short-term, volatility-linked ETPs for customers longer than designed....
...The continued popularity of income-generating ETFs, active fixed income ETFs amid interest-rate uncertainty and financial adviser interest in core strategies from firms such as Capital Group and JPMorgan...
...Two scoops to start, first: JPMorgan Chase spent more than a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank...
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