Good for consumers.
Good for small businesses.
Good for communities.
This opportunity brings together two mission-driven companies with proven track records of delivering best-in-class products and experiences for consumers.
Capital One and Discover have a shared heritage of challenging the status quo and helping customers succeed. Since its founding, Capital One has been guided by a belief that no consumers should be prevented from accessing credit nor be locked out of the financial system. And today, we remain committed to serving American consumers across the credit spectrum.
Capital One was the first national bank to eliminate overdraft fees and provide the service for free. Discover has been a pioneer of cash back rewards with a legacy of award-winning customer service and exceptional customer advocacy. Together, these two companies are excited to drive innovation, increase competition in banking and payments, and serve customers with ingenuity and humanity.
Rich Fairbank, Capital One’s Founder & CEO, shares how the combination of Capital One and Discover will provide significant benefits for the two companies and their customers. Joining forces will enable greater competition with the largest U.S. banks and global payments networks. Together, Capital One and Discover can deliver exceptional banking products and experiences for customers while increasing the value of the network for merchants and consumers.
Announcing our
community benefits plan
Our historic community benefits plan, which was developed as part of our proposed acquisition of Discover Financial Services, totals more than $265 billion in lending, investing and philanthropy over five years. This plan is more than twice as large as any other community commitment developed in connection with a bank acquisition.
Details about our planSharing in similar histories,
values, and missions.
Both companies were created with a drive to take on the centuries-old financial industry and have grown by challenging conventional thinking while keeping their mission to help customers build a better financial future at the core of their business.
Investor Relations:
Danielle Dietz: danielle.dietz@capitalone.com
Jeff Norris: jeff.norris@capitalone.com
Media Relations:
Sie Soheili: sie.soheili@capitalone.com
Carlisle Campbell: carlisle.campbell@capitalone.com
Investor Relations:
Erin Stieber: erinstieber@discover.com
Media Relations:
Matthew Towson: matthewtowson@discover.com