Last month, over 99% of the stockholders of Capital One and Discover formally approved the merger of the two firms. But rumors recently emerged from unnamed sources in the Department of Justice (DOJ) that the merger might be considered anti-competitive due to the relatively large share of the so-called “sub-prime” credit card market held by the two companies. This would be a mistake, as the evidence shows the merger would be good for all consumers—especially those with lower credit scores.
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