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Capital One to buy Discover Financial in $35B stock deal

reuters.com

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Re: Capital One to buy Discover Financial in $35B stock deal

#91

Post by mlrtime »

NoPedantsThanks wrote: post #51
nonethewiser wrote: post #48

Earlier quoted context omitted.

> I've always heard Discover was a good company to work for and they had the best customer support. Capital One is the opposite of both of those things so I hope the government steps in here. You want the government to step in because you don’t like what you’ve heard about capital one’s customer service and work culture?

That's what he said. There's nothing wrong with it, either. And don't bother pretending to think that he wants the government to use his opinion as justification. That's obviously where you're going, so don't insult the rest of us by continuing.

I'll continue, this is absurd. No, the government shouldn't be stepping in to stop this.

The FTC should evaluate this deal just like any others and possibly slow/stop it if it finds major anti-trust issues.

Re: Capital One to buy Discover Financial in $35B stock deal

#92

Post by sodality2 »

mlrtime wrote: post #89
sodality2 wrote: post #32

Earlier quoted context omitted.

To add more anecdata: C1 has all of my accounts from savings, checking, and two CC's. I've never had a problem. Their customer support has always helped. That being said, all my eggs in one basket is terrible (though instant transfers + 4.35% savings is great - I keep about $30 in my checking and transfer over whenever a charge will go through, and thus maximize my interest gained!)

A bit off-topic but this seems a bit risky to me. I always keep two completely separate banks with a balance to sustain me 30 days. (I know this is a luxury). I fear a bank locking my account(s) and unable to pay bills.

I completely agree - I will slowly begin transferring a part of my usage to Amex's savings + checking offerings now that I'm a customer of theirs. The instant transfer is very convenient but it's not worth the risk.

Re: Capital One to buy Discover Financial in $35B stock deal

#93

Post by EVa5I7bHFq9mnYK »

silisili wrote: post #62
BadHumans wrote: post #6

I've always heard Discover was a good company to work for and they had the best customer support. Capital One is the opposite of both of those things so I hope the government steps in here.

C1 has a huge base in NoVa, and everyone I've known to work there seem to enjoy it. As a customer though you're right, Discover is leaps and bounds better than Capital One. Walmart of all people is suing them for their terrible customer service, and that speaks volumes. I will cancel my Discover cards if this goes through.

I found C1 card is the best out of my 14 cards. My criterion: probability of payment being denied by an airline.

Re: Capital One to buy Discover Financial in $35B stock deal

#94

Post by mlrtime »

missedthecue wrote: post #87
TheCaptain4815 wrote: post #78

Earlier quoted context omitted.

Well because these banks can only function from the money they borrow from the government, it’s insane they’re allowed to censor 1st amendment protected speech.

I don't think banks borrow any money from the government, unless you're thinking of really convoluted things like the department of agriculture partially insuring equipment loans to farmers against default. That's not borrowing from the gov. and it's not even most banks though.

Probably talking about Fedfunds which is the overnight short term lending.

Re: Capital One to buy Discover Financial in $35B stock deal

#95

Post by TheCaptain4815 »

mlrtime wrote: post #94
missedthecue wrote: post #87

Earlier quoted context omitted.

I don't think banks borrow any money from the government, unless you're thinking of really convoluted things like the department of agriculture partially insuring equipment loans to farmers against default. That's not borrowing from the gov. and it's not even most banks though.

Probably talking about Fedfunds which is the overnight short term lending.

Yup. If they want to restrict American citizens from accessing banking, they can do all that lending through private methods.

Re: Capital One to buy Discover Financial in $35B stock deal

#96

Post by MuffinFlavored »

piperswe wrote: post #80
MuffinFlavored wrote: post #26

Earlier quoted context omitted.

I asked ChatGPT about this. It said for interchange portion, sure. I'm not sure if EU payment processors finds a way to make it up in different portions of the fees so that it evens out to the same 1-3%?

What's with all these "I asked ChatGPT" comments? I've seen quite a few, and I don't think any of them have added anything to a conversation.

How else would you quickly try to understand complex research topics like:

"how much are payment processing fees in north america compared to europe/asia"?

Re: Capital One to buy Discover Financial in $35B stock deal

#98

Post by caslon »

runamuck wrote: post #97

I live in DC and friends who work for Capitol One call it "the Google of the east" because of putative tech savvy and innovation. Can anyone verify this claim?

It's not Google (Google isn't Google anymore), but if you search around for the winners of the intern competitions they hold every year, you'll find a surprising amount of intensely competent people who have done very interesting things in the years since.

Re: Capital One to buy Discover Financial in $35B stock deal

#99

Post by blovescoffee »

runamuck wrote: post #97

I live in DC and friends who work for Capitol One call it "the Google of the east" because of putative tech savvy and innovation. Can anyone verify this claim?

I worked there for 1.5 years. There's lots of smart people. There's lots of people hiding in the bureaucracy of a large bank that get away with very little action. I haven't worked at Google so I can't comment on that. Overall it was a good experience but things moved very slow.
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