Discover Financial Services

Discover turns outside company for new CFO


The credit card issuer has hired John T. Greene, a former pharmaceutical industry executive, to succeed Mark Graf, who announced his retirement over the summer.


What student lenders think about Warren, Sanders reform plans


The CEOs of Sallie Mae and Discover Financial Services were largely dismissive this week of the threat posed by the two Democratic presidential candidates, though their optimism seemed to be rooted in an assumption that the more sweeping proposals will never become law.


Higher yields on card loans boost Discover's 2Q profit


While loan growth continues to outpace that of competitors, Discover says that it has been tightening its standards, given the late stage of the credit cycle.


Discover eliminates fees on checking, savings accounts


The move figures to generate more low-cost funding for the firm’s consumer lending businesses without sacrificing substantial revenue.


Fifth Third, Discover, BMO Financial: Bankers on the move


Some of the biggest industry moves in May and early June were not executive promotions, but rather departures.


Capital One, Discover prepping for next downturn


The large credit card issuers are becoming more selective about who they are extending credit to and how much they are willing to lend, their CEOs said Tuesday.


Discover's finance chief to retire next year


Mark Graf, who joined the Riverwoods, Ill.-based credit card issuer in 2011, will participate in the search for his successor.


Credit card charge-offs hit seven-year high


Thirty-day delinquency rates, a harbinger of future write-offs, also increased at all seven of the largest U.S. card issuers in the first quarter.


Broad-based loan growth drives higher profits at Discover


The company's credit card business has been outpacing industry-wide loan growth. In the first quarter, results were also aided by higher loan yields.


Booming economy means less fee income for credit card issuers


Though banks are generating more revenue from interchange and annual fees, those gains have been offset by declines in income from cash advances and late fees.