Agencies give extension to comment period for Capitol One’s proposed purchase of Discover

The acquisition of Discover Financial Services by a large, Virginia-based banking firm will be subject to public comment through May 31, federal banking regulators said separately Wednesday.

The Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) said comments on the acquisition by Capital One Financial Corp. of McLean, Va., of Discover – largely a credit card company – would run through the May date rather than the original April 26 (Friday) comments due date. Discover Financial is based in Riverwoods, Ill.

The proposed acquisition also includes Discover Bank of Greenwood, Del..

The agencies said the extension will allow interested parties more time to provide comments.

Federal Reserve Board announces it will extend through May 31, 2024, the public comment period for the application by Capital One Financial Corporation to acquire Discover Financial Services