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Capital One to buy Discover Financial in $35B stock deal

BankInovation

Capital One Financial Corp. agreed to buy credit-card lender Discover Financial Services in a $35 billion all-stock deal to create the largest US credit card company by loan volume. McLean, Virginia-based Capital One will pay 1.0192 of its own shares for each Discover share, a 26.6% 16, the […]

Capital 69
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Fraudsters Accused In $364M Ponzi Debt Scheme

PYMNTS

According to the indictment, the men ran a network of entities and shell companies — including Global Credit Recovery LLC, Delmarva Capital LLC and Rhino Capital Holdings LLC — offering individuals, family offices and funds the chance to invest in consumer debt portfolios. Attorney for the District of Maryland, Robert Hur, said.

Baltimore 167
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Federal Regulators Visited Amazon Facility To Search Laptops

PYMNTS

Although the investigation came around at the same time a Seattle woman hacked a database of credit-card issuer Capital One Financial that was stored on the eCommerce giant’s cloud server, examiners were reportedly not aware of the breach when they visited Amazon’s Virginia facility.

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Propel Notches $12.8M In Series A Funding

PYMNTS

Part of the reason the EBT card was invented was to reduce the stigma of government benefits, to make it feel like a financial tool,” he said at the time. One user from Virginia, for instance, learned how to manage her weekly spending and budgeting through the app. “It’s my own personal financial advisor,” she noted.

Virginia 190
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US B2B Startups Dominate $337 Million Worth Of Funding

PYMNTS

Boston-based PreVeil did not disclose how much it raised in its Series A funding round, but it did note that Spark Capital provided the funding to support the company’s email and file security solution. ZP Group incorporates three units: a government cybersecurity contractor, a human capital and staffing service and a security advisory firm.

US 116
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B2B Investors Get Smart About Business Intelligence

PYMNTS

Business intelligence is a common theme in this week’s B2B venture capital (VC) roundup, with many startups deploying artificial intelligence (AI) and sophisticated data analytics technologies for their business customers. Investors placed more than $136.5 The rundown of the latest funding rounds is below. Fattmerchant.

Analytics 105
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Retail Pulse: Walgreens To Test Drone Deliveries; Walmart To Relaunch Scoop

PYMNTS

Walgreens , in one case, plans to pilot drone deliveries in Christiansburg, Virginia starting in October by partnering with Wing, a member of the Alphabet family of companies. Christiansburg was chosen as the test market because Wing has been working with Virginia Tech in nearby Blacksburg to pilot the drone deliveries.

Retail 112