| Amid Discover Merger
OCC Said Capital One
Outstanding No Weekly
Bulletin Since March
by
Matthew R. Lee
SOUTH
BRONX, May
9 – Capital One has applied to
buy Discover, in an
anticompetitive deal that
should be rejected by
regulators if they mean what
they have been saying. After
they applied late March
20, Inner City Press
submitted a second Freedom of
Information Act request to the
Office of the Comptroller of
the Currency.
On March 3, days
after the CFPB dropped its
lawsuit against Capital One,
the OCC suddenly declared
Capital One "Outstanding"
under the Community
Reinvestment Act. Who's in
the OCC's wallet, now?
[As of May 9, we
can tell - the OCC's Weekly
Bulletin of applications
subject to public comment has
not been updated since March -
nothing in April, nor May so
far: more than 40 days.]
Back on July 26,
after a FOIA appeal - and
after closing the public
comment period - the OCC
belatedly gave Inner City
Press documents showing
Capital One briefed the OCC on
a "big" deal in November 2023;
it was code named "Project
Sirius."
Then overly
chummy texts from Andy
Navarrete, who testified at
the public meeting, and Pient
Tran to the OCC's Marci
Heppner and others.
For example, Andy
to Marci, sorry for the late
ping, if Richard wanted to
call, could you do a 1:1 Zoom
at 7:30 [pm]. But of course.
That and more now on Inner
City Press' DocumentCloud here
***
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