Discover Financial Services

The unit, which includes a $10.2 billion portfolio of private student loans, could fetch interest from alternative asset managers or rival student-loan platforms.

Despite slower new-account growth, the card network had healthy overall sales, loan growth and deposit inflows in the first quarter. The performance gave credence to its ambitions to become a digital banking giant.

"The bar is being set by consumer interactions," says Alisa Ellis, who is helping lead modernization efforts at the financial institution.

The Reserve Bank of India restricted American Express Banking and Diners Club from adding new local customers, citing non-compliance with data-storage rules.

Online and hybrid gatherings last year left shareholders demanding that companies make it easier to join the meetings, ask questions and vote this time around.

Consumers have largely kept up with their payments during the pandemic, but Discover chief Roger Hochschild says he expects defaults to rise as structural changes in the economy lead to more layoffs of white-collar workers.

With the sector facing serious headwinds — from declining enrollment during the pandemic to the prospect of a Biden administration making college free for many families — the departure of a major player could be a shot in the arm for the likes of Discover and Sallie Mae.

Discover Financial Services shares surged after the company said spending on its cards improved in September, the first increase during the pandemic.

Discover Financial Services shares surged after the company said spending on its cards improved in September, the first increase during the pandemic.

The prospect of a spate of white-collar job losses in the U.S. is a growing concern for the CEO of one of the country’s largest credit-card providers.

Some customers have complained of limits being slashed by one-third to two-thirds, eroding their ability to borrow in an emergency during a pandemic or potentially hurting their credit scores.

Some customers have complained of limits being slashed by one-third to two-thirds, eroding their ability to borrow in an emergency during a pandemic or potentially hurting their credit scores.

Discover Financial Services and Bank First in Wisconsin, two of the many companies that went all-remote with their annual meetings this year, gave the process high marks. But the longer-term prospects industrywide are unclear.

The CEOs of the credit card lenders Discover and Synchrony are urging Congress to come through with another round of government stimulus so that struggling households can continue paying their bills.

The CEOs of the credit card lenders Discover and Synchrony are urging Congress to come through with another round of government stimulus so that struggling households can continue paying their bills.

Digital technology and the coronavirus recovery will dramatically alter payments in the year ahead, but the scale and benefits of networks will survive, Eric Grover of Intrepid Ventures contends.

More than 80% of the card company’s customers who opted to skip payments ended up making them a month later, Chief Executive Officer Roger Hochschild told investors at a virtual conference Tuesday.

Since March, issuers have tightened their criteria for opening new accounts and closed millions of existing ones in hopes of avoiding waves of defaults.

Discover Financial Services said Thomas Maheras will serve as its chairman after the death of Lawrence Weinbach.

Many banks are slashing their spending. Others are changing their messaging strategies. And those banks that partner with pro sports teams are stuck in limbo, since it remains unclear when games will resume.