The US has approved Capital One’s $35.5 billion takeover of Discover Financial, marking a significant banking merger since the 2008 financial crisis. This merger, expected to close on May 18, aims to enhance competition against major credit card networks and follows scrutiny from lawmakers concerned about consolidation’s impact on consumers. The approval comes with a $100 million fine against Discover for past overcharging and is seen as a sign of renewed openness to bank mergers under the current administration.