Capital One Pledges $265 Billion in Community Benefits to Secure Discover Acquisition

The five-year plan aims to address regulatory concerns and bolster services for low- and moderate-income communities.

Capital One's proposed $35 billion merger with Discover would create the largest U.S. credit card issuer by loan volume.
The $265 billion commitment includes $200 billion in consumer lending and $44 billion for community development.
Capital One promises no branch closures and no cuts to front-line staff as part of the merger.
The plan also allocates $575 million to philanthropic efforts and $600 million to community development financial institutions.
Some community groups remain skeptical about the plan's implementation and accountability.