The news: The Department of Justice (DOJ) has reportedly expressed concerns that the merger of Capital One and Discover would harm competition, per Bloomberg.
The DOJ’s concerns surround the subprime sector, per The Capital Forum. Its findings will be a part of a draft report the agency is preparing to give to the Federal Reserve and the Office of the Comptroller of the Currency (OCC). The deal is still waiting for approval from these agencies.
Capital One brushed off the reports, telling Bloomberg the deal remains "well-positioned to gain approval."