Regulatory Alerts2025-04-18 | Conditional Approval 1337Added
Conditional Approval 1337 — Application for the merger of Discover Bank, Greenwood, Delaware with and into Capital One, National Association, McLean, Virginia
The Office of the Comptroller of the Currency conditionally approves the merger of Discover Bank, Greenwood, Delaware, with and into Capital One, National Association, McLean, Virginia, with Capital One, National Association as the Resulting Bank. The approval authorizes the retention of Discover Bank’s main office as a branch, the acquisition of five operating subsidiaries, four securitization trusts, and specific public welfare funds and investments. This approval is subject to a condition requiring Capital One, National Association to provide a plan for supervisory non-objection within 120 days of consummation to address root causes of outstanding enforcement actions against Discover Bank. The approval automatically terminates if the merger is not consummated within six months unless an extension is granted.