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The Biden Administration Takes a Swipe at Credit Card Industry for 03/26/2024

The Biden administration regulators see a monopoly boogeyman behind the curtain of nearly every business merger and acquisition — from airlines to cellphones to chicken producers.

Now they’re trying to stop Capital One from acquiring the credit card company Discover.

That’s a bizarre cease-and-desist order, because this acquisition by Capital One would INCREASE rather than inhibit competition in an industry that processes two-thirds of retail store and online transactions worth $5 trillion each year. Americans love swiping and tapping for their shopping.

Updated: Tue Mar 26, 2024

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