One of the largest credit-card issuers is getting even larger and draws more attention to anticompetitive attrition within the credit-card industry.
The Wall Street Journal's online edition late Sunday reported that Capital One is preparing to acquire the regional bank holding company, North Fork Bancorp for about $14.5 Billion. WSJ reporters, Dennis Berman and Robin Sidel wrote that this brings "the large credit-card issuer deeper into the banking business."
With a further consolidation in the banking and credit card industry, WayTooHigh.com anticipates that there will be a further reduction of competition and as a result, the possibility of higher interchange fees.
More info click here, WSJ subscription required
More on North Fork Bancorp, click here
[source: WayTooHigh.com, reporting on the WSJ news alert]
