07:22 AM EDT, 07/19/2024 (MT Newswires) -- Capital One Financial's ( COF ) CEO Richard Fairbank and other executives will face community groups at a public meeting on Friday convened by regulators to discuss its $35 billion acquisition of Discover Financial Services ( DFS ) , Reuters reported.

The Federal Reserve and Office of the Comptroller of the Currency (OCC), facing pressure to scrutinize mergers rigorously, have organized the meeting, a rare move reserved for the most contentious merger reviews, the report said.

Scheduled to span the entire day, the meeting offers opponents, including Democratic lawmaker Maxine Waters, the National Community Reinvestment Coalition, Americans for Financial Reform, and Public Citizen, a platform to voice concerns about the merger's potential risks to financial stability and competition.

Community support for the deal could influence the regulatory review process, which is expected to extend over several months, Reuters reported.

Capital One Financial ( COF ) and Discover Financial Services ( DFS ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 147.95, Change: -0.77, Percent Change: -0.52