The Capital One-Discover Merger Has Been Approved. What Should Cardholders Expect?

Julian Morris April 21, 2025

Julian Morris, senior scholar at ICLE, was quoted in this U.S. News and World Report article on what should cardholders expect from  Capital One-Discover merger. Read the full article here. 

Even though the merger was approved, changes won’t happen overnight. If you’re considering opening an account with either Capital One or Discover now, you can feel comfortable doing so.

“I’m sure that through the merger process, they’ll integrate the customers of both organizations in an effective manner,” says Julian Morris, senior scholar at the International Center for Law & Economics, or ICLE, which published a white paper on the merger in July.

Other things consumers can look out for include:

• Improved fraud protection. This is especially relevant when it comes to e-commerce, Wang says. “Capital One has invested a lot in these merchant data exchanges,” he says. “They could try to build that deeper into the Discover network.”
• Increased promotion of no-fee checking. Capital One offers a checking account with no monthly fee or minimum balance requirement, as does Discover. This is also a product that is less commonly available. The merger could boost that product. “The company should be better able to market no-fee, no-minimum-balance bank accounts to underserved low- and middle-income consumers,” Morris and other ICLE contributors wrote in the July white paper.