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Capital One plans to acquire Discover for $35.3 billion. Here's what it means for the credit card industry and for consumers

Capital One's decision to acquire Discover could establish a new megafirm that shakes up the credit card industry. The move may hold long-term implications for credit card holders, regardless of whether they bank with Capital One or shop with Discover, experts told ABC News. If approved by shareholders and regulators, the merger would leave Capital One in a stronger market position, potentially allowing the company to offer more attractive bonuses and perks, some experts said.

Angus Mordant/Bloomberg via Getty Images(NEW YORK) -- Capital Ones decision to acquire Discover could establish a new megafirm that shakes up the credit card industry.The move may hold long-term implications for credit card holders, regardless of whether they bank with Capital One or shop with Discover, experts told ABC News.If approved by shareholders and regulators, the merger would leave Capital One in a stronger market position, potentially allowing the company to offer more attractive bonus...

Angus Mordant/Bloomberg via Getty Images(NEW YORK) -- Capital Ones decision to acquire Discover could establish a new megafirm that shakes up the credit card industry.The move may hold long-term implications for credit card holders, regardless of whether they bank with Capital One or shop with Discover, experts told ABC News.If approved by shareholders and regulators, the merger would leave Capital One in a stronger market position, potentially allowing the company to offer more attractive bonus...

Angus Mordant/Bloomberg via Getty Images(NEW YORK) -- Capital Ones decision to acquire Discover could establish a new megafirm that shakes up the credit card industry.The move may hold long-term implications for credit card holders, regardless of whether they bank with Capital One or shop with Discover, experts told ABC News.If approved by shareholders and regulators, the merger would leave Capital One in a stronger market position, potentially allowing the company to offer more attractive bonus...

Capital One's decision to acquire Discover could establish a new megafirm that shakes up the credit card industry. The move may hold long-term implications for credit card holders, regardless of whether they bank with Capital One or shop with Discover, experts told ABC News. If approved by shareholders and regulators, the merger would leave Capital One in a stronger market position, potentially allowing the company to offer more attractive bonuses and perks, some experts said.

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The deal may hold long-term implications for customers across the industry.

The deal may hold long-term implications for customers across the industry.

A lawsuit filed by banking trade groups said a new anti-redlining rule was “a complicated and burdensome regime” and might “ultimately result in reduced lending to the very populations that the CRA was designed to benefit.”