Biden Administration Takes a Swipe at Credit Card Industry

The Biden administration regulators see a monopoly boogeyman behind the curtain of nearly every business merger and acquisition—from airlines to cellphones to chicken producers.

Now they’re trying to stop Capital One from acquiring the credit card company Discover.

That’s a bizarre cease-and-desist order, because this acquisition by Capital One would INCREASE rather than inhibit competition in an industry that processes two-thirds of retail store and online transactions worth $5 trillion each year. Americans love swiping and tapping for their shopping.

To suggest that the acquisition of two companies that control less than 10 percent of the market is anti-competitive is a proposition that borders on the absurd.

Read Full Article Here

Follow us

Read our latest news on any of these social networks!

Get latest news delivered daily!

We will send you breaking news right to your inbox


Have a tip? Let us know!

Recent Articles

  • by:
  • Source: NY Post
  • 04/17/2025
...
Puerto Rico hit with massive island-wide blackout ahead of Easter weekend

An island-wide blackout hit Puerto Rico on Wednesday as the largely Catholic residents of the U.S. territory prepared to celebrate the Easter weekend, officials said.

...
Democrat Van Hollen Travels to Deported Migrant in El Salvador

Democrats and their media allies are portraying a deported illegal migrant from El Salvador as a martyr of U.S. migration policy, so helping President Donald Trump’s deputies spotlight the Democrats’ sympathy for criminal illegals.

...
China Faces 245% Trump Tariff

The White House said China is facing up to a 245 percent tariff on imports to the U.S. "as a result of its retaliatory actions," as the trade war between the world's two largest economies continues to heat up.

...
Illegal border crossings hit record low second month in row

Since President Donald Trump’s been in office, illegal border crossings reached record lows in March, reversing Biden administration illegal crossings, which were the highest in recorded U.S. history.