Wintrust Business Minute: Discover and Capital One face proposed class-action lawsuit over merger

Wintrust Business Lunch

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Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Discover Financial Services and Capital One face a proposed class-action lawsuit over their merger. The lawsuit claims the $35 billion dollar deal will hurt competition and raise prices for consumers. The complaint also claims the merger will mean fewer and less valuable credit card benefits and higher fees. The lawsuit also claims the merger violates antitrust law. Riverwoods-based Discover and Capital One announced their merger back in February. It’s also being scrutinized by the federal government. Capital One says the suit has no merit.

Also, catholic health system Ascension is selling most of its Illinois hospitals to a California company. Listen for more below:

https://serve.castfire.com/audio/5400364/5400364_2024-07-25-172604.64kmono.mp3

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