Capital One's $35.3 billion deal for Discover Financial Services crossed its final regulatory hurdle Friday, getting the green light to form the largest credit card issuer in the U.S.
Why it matters: The ability to close the deal faced heavy doubts through both the Biden and Trump administrations.
Context: The tie-up drew antitrust scrutiny during the Biden era.
It faced similar doubts during this administration — but also due to the Trump Organizations lawsuit against Capital One, accusing it of debanking.
Zoom in: The Federal Reserve Board also fined Discover $100 million Friday, for overcharging on payments fees.
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