Capital One Finalizes Merger With Discover

Capital One officials haven't said what types of changes they plan to roll out.

Capital One and Discover are finalizing their merger nearly 16 months after the deal was announced.

The combination would create the sixth-largest U.S. bank by asset size. It will also create a leading consumer banking and payments platform with “unique capabilities, modern technology, powerful brands and a customer franchise of over 100 million customers that spans the marketplace.”

Federal regulators approved Capital One’s $35.3 billion acquisition of Discover financial services earlier this year.

Capital One officials haven’t said what types of changes they plan to roll out. There will not be any immediate changes to customer accounts at either bank. Customers would be notified well in advance of any conversions or other changes to accounts.