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Capital One-Discover deal approved by bank regulators

The logo and ticker for Capital One are displayed on a screen on the floor of the NYSE in New York

The logo and ticker for Capital One are displayed on the floor of the New York Stock Exchange.

NEW YORK � Banking regulators said on Friday they approved Capital One's $35.3 billion purchase of Discover Financial Services, paving the way for the combined firms to become the nation's eighth-largest bank.

The deal has been closely watched by financial executives, who see it as a litmus test for how quickly the administration of President Donald Trump will approve mergers in a sector they see as ripe for consolidation.



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