Capital One completed its acquisition of Discover Financial Services on May 18, 2025, in an all-stock deal valued at approximately $35.3 billion. This merger combines Capital One with Discover’s credit card network (PULSE and Discover Network), allowing Capital One to operate as both a card issuer and a payment network.
All required regulatory approvals to complete the transaction have now been received, and the transaction is expected to close on May 18, 2025 , subject to the satisfaction of customary closing conditions.
Capital One has merged with Discover Financial Services, a deal that officially closed on May 18, 2025, combining the two companies to become a major force in U.S. banking, integrating Capital One's strength in credit cards and banking with Discover's payments network. The integration combines Discover's merchant network and customer base with Capital One's digital-first approach, allowing Discover cardholders access to Capital One's branch network and creating synergies in rewards and services.
For the major 2025 Capital One settlement (the $425M 360 Savings account case), you're eligible if you held a Capital One 360 Savings account between September 18, 2019, and June 16, 2025, automatically receiving payments for the interest difference or choosing a larger lump sum, with deadlines like October 2, 2025, for opting out/objecting and a final hearing on November 6, 2025, while another separate settlement covers deceased account holders reported to credit bureaus between Aug 13, 2019, and Dec 3, 2025.
The Capital One-Discover merger will trigger card number changes as Capital One portfolios move onto the Discover network and the PULSE debit network. Updates will occur in waves rather than all at once, and merchants will not receive advance notice for individual customers.
Capital One is facing major issues primarily around a recent multi-billion dollar settlement for allegedly misleading savings account customers by hiding higher-yield options, with regulators like the CFPB and NY Attorney General suing over these practices. Other concerns include a massive 2019 data breach, past overdraft fee controversies (now resolved), and recent, though likely temporary, technical glitches affecting account services. The bank is also in the process of acquiring Discover.
In 1995, it acquired the historic Alex. Brown & Sons Building in Baltimore, Maryland, which was renovated the following year and used for a branch office. On December 4, 2008, Capital One announced it would be acquiring Chevy Chase Bank. The acquisition was completed on February 27, 2009.
Eligibility for the main Capital One settlement centers on holding a Capital One 360 Savings account (not Performance) between September 18, 2019, and June 16, 2025, with payments automatically issued to eligible members for alleged underpaid interest, though a separate data breach settlement had earlier deadlines. You're likely included if you had the 360 Savings account, including joint holders, while those with only the Performance account generally aren't.
Anyone who had a Capital One “360 Savings” account at any point between Sept. 18, 2019 and June 16, 2025, qualifies for the settlement. No claim form is required. Payments of $5 or more will be sent automatically, either by check or electronically, depending on the option previously selected.
Why is Capital One sending me a new debit or ATM card? Capital One is switching its debit and ATM card network from Mastercard to Discover. What is a debit network or ATM network? A debit network is an electronic payment system that allows for real-time transactions between businesses and customers.
Capital One Financial Corporation is an American bank holding company founded on July 21, 1994, and specializing in credit cards, auto loans, banking, and savings accounts, headquartered in Tysons, Virginia, with operations primarily in the United States.
Yes, Capital One is generally considered safe from collapse for typical customers because it's a large, stable bank and its deposits are FDIC-insured up to $250,000, meaning your money is protected even if the bank fails, with coverage automatic for most accounts. While some legal issues exist regarding FDIC assessments, these affect the bank's balance sheet, not your insured deposits.
In separate letters issued on Monday, the central bank instructed First Security Islami Bank, Social Islami Bank, Global Islami Bank, Union Bank and EXIM Bank to reduce the value of their shares to zero under the Bank Resolution Ordinance 2025.
You may qualify if: You held a Capital One 360 Savings account between September 18, 2019 and June 16, 2025. Your account was active at any point during this period. You are a current or former account holder.
Credit Card settlement is an option for individuals facing financial hardship and unable to repay their full Credit Card debt. For example, if you have an outstanding balance of ₹1,00,000 but cannot make regular payments, you can negotiate with your issuer to settle the debt for a lower amount.
The settlement is for approximately $180–190 million. Eligible people may receive up to $25,000 for out-of-pocket losses and lost time (at least 15 hours at $25/hr), plus identity theft protection services, dark web monitoring, and more. About 98 million Capital One customers are eligible.
The Capital One settlement benefits individuals who were reported as deceased by Capital One based on information related to their credit card accounts and whose accounts were disputed by Capital One with credit reporting agencies between Aug. 13, 2019, and Dec. 3, 2025.
We have directly notified by mail the U.S. individuals whose Social Security numbers or linked bank account numbers were accessed. We also have notified all Canadian customers affected. Canadian customers can find more information at https://support.capitalone.ca/cyber/facts2019 or www.capitalone.ca/facts2019/fr. 5.