Statement by Senator Warren on Trump Administration Approving Capital One-Discover Merger

Washington, DC – United States Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, released the following statement on the approval of the merger of Capital One and Discover:

“President Trump promised to cap credit card interest rates, but his Administration just rubber-stamped the creation of the largest credit card company in the country, which will hurt consumers and small businesses with inevitably higher credit card interest rates, increased junk fees, and reduced availability of credit. Today Wall Street initiates the newest member of its Too-Big-To-Fail club at the expense of working Americans and our nation’s financial stability—a daily theme of the Trump Administration.”

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