Regulators have approved the $35 billion merger between Capital One and Discover Financial, marking a significant milestone for both companies. With these approvals, Capital One is set to become the largest credit card issuer in the United States. Various regulatory bodies including the Federal Reserve and the OCC have given their nods, paving the way for the acquisition to finalize soon. While the deal has been celebrated as a step towards consolidation in the credit card market, concerns have been raised regarding its potential impact on competition and consumer costs.