| Questioning
Capital One
Discover
Merger NY AG
Asks for
Subpoena Now
More Astroturf
by
Matthew R. Lee
SOUTH
BRONX, Oct
23 – 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.
On September 4,
Fair Finance Watch and Inner
City Press submitted
supplemental opposition to the
regulators, including about a
newly filed class action that
"demonstrates Capital One's
outrageous, illegal, and
widespread practice of
disclosing—without consent—the
Nonpublic Personal
Information1 and Personally
Identifiable Financial
Information2 (together,
“Personal and Financial
Information”) of Plaintiffs
and the proposed Class Members
to third parties, including
Meta, Google, Microsoft,
DoubleClick, NewRelic, Adobe,
Everest, Skai/Kenshoo,
Snowplow, BioCatch, Tealium,
and possibly others."
Meanwhile Capital
One's "Astro-turfing"
continues - for example in
California, here.
On October 23,
while the Federal Reserve calls
submissions of these abuses
untimely, NY Attorney General
Letitia James asked an NYS Judge
to a subpoena against Capital
One:
"Discover agreed to provide a
waiver... Capital One declined
to provide such a waiver.
Instead, its counsel stated that
it had been told by the OCC that
issuing a voluntary waiver of
federal confidentiality
protections would contravene OCC
regulations that restrict the
ability of State law enforcement
agencies to exercise “visitorial
powers” over national banks.
27. Attorneys in the Attorney
General’s Antitrust Bureau later
spoke with attorneys at the OCC,
who confirmed the OCC’s
position."
What regulators. The case has
yet to be assigned an index
number.
***
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