SOUTH BRONX, Oct 23 – Capital One has applied to buy Discover, in an anticompetitive deal that should be rejected by regulators if they mean what they have been saying.
On September 4, Fair Finance Watch and Inner City Press submitted supplemental opposition to the regulators, including about a newly filed class action that "demonstrates Capital One's outrageous, illegal, and widespread practice of disclosing—without consent—the Nonpublic Personal Information1 and Personally Identifiable Financial Information2 (together, “Personal and Financial Information”) of Plaintiffs and the proposed Class Members to third parties, including Meta, Google, Microsoft, DoubleClick, NewRelic, Adobe, Everest, Skai/Kenshoo, Snowplow, BioCatch, Tealium, and possibly others."
Meanwhile Capital One's "Astro-turfing" continues - for example in California, here.
"Discover agreed to provide a waiver... Capital One declined to provide such a waiver. Instead, its counsel stated that it had been told by the OCC that issuing a voluntary waiver of federal confidentiality protections would contravene OCC regulations that restrict the ability of State law enforcement agencies to exercise “visitorial powers” over national banks.
27. Attorneys in the Attorney General’s Antitrust Bureau later spoke with attorneys at the OCC, who confirmed the OCC’s position."
What regulators. The case has yet to be assigned an index number.
***
Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron.
Feedback: Editorial [at] innercitypress.com
