Discover Financial Services
 (DFS)

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  • Aug. 22, 2012, 10:23 AM

    Shares of eBay (EBAY +4.8%) and Discover Financial Services (DFS +4.5%) shoot higher with investor enthusiasm stoked up by a mobile payment venture between the two firms. Win-win? The deal lets PayPal shoulder into Discover's existing stable of merchant bank processors and could mark the watershed moment for the service where it emerges into a more mainstream brick-and-mortar payment alternative. For its part, Discover diversifies by grabbing extra fees from processing transactions and hitches itself to a promising partner in the mobile wallet war.

    | Aug. 22, 2012, 10:23 AM | 2 Comments
  • Aug. 22, 2012, 9:47 AM
    Discover (DFS +5%) and PayPal ink a deal giving the eBAY (EBAY +3.9%) unit access to Discover's network (7M+ retailers). Under the agreement, PayPal will issue payment cards to its 50M users allowing them to make payments anywhere Discover is accepted. PayPal will charge merchants a small fee, of which Discover will get a cut.
    | Aug. 22, 2012, 9:47 AM | 3 Comments
  • Aug. 21, 2012, 2:46 PM

    Bank of America (BAC) ends its practice of trying to push products to suspend the credit-card payments of customers facing hardship. So-called credit protection products have sparked a number of lawsuits, including one leading to a $210M fine for Capital One. BofA will pay $20M to make a class-action lawsuit go away. Discover (DFS) expects a hefty fine as well.

    | Aug. 21, 2012, 2:46 PM
  • Aug. 13, 2012, 4:12 AM

    Debt-collection lawsuits based on erroneous and even forged documents, incomplete records, and generic testimony from witnesses - sound familiar? The NYT finds that robo-signing is alive and well, but this time in the practices of credit-card companies such as American Express (AXP), Citigroup (C) and Discover Financial (DFS). Regulators are looking into the matter.

    | Aug. 13, 2012, 4:12 AM
  • Jul. 10, 2012, 12:11 PM

    Invest in consumers on the Lexus-driving side of the "credit divide," says Nomura's Bill Carache, upgrading AMEX as he downgrades Capital One (he also likes Discover). Since the 2008 peak, outstanding balances have declined more than 25% at COF vs. just 18% at AXP and DFS.

    | Jul. 10, 2012, 12:11 PM
  • Jul. 9, 2012, 7:43 AM

    Credit card delinquency rates just keep on falling, baffling even the card issuers themselves who expected the improvement to stop a year ago. The key is todays environment in which those with good credit histories and jobs are extended credit, and those without aren't. Shocking. The news could mean card company earnings being a bright spot in an otherwise difficult quarter for financials.

    | Jul. 9, 2012, 7:43 AM
  • Jun. 27, 2012, 12:47 PM

    The credit spigot opens back up for those with less-than-stellar credit, Equifax reporting lending to subprime consumers rising 41% last year, and credit card issuance to those with credit scores of 601-700 up 21% in Q1. Those with scores under 600 (defined as high-risk) continue to see tightening credit conditions.

    | Jun. 27, 2012, 12:47 PM | 1 Comment
  • Jun. 19, 2012, 8:50 AM

    More on Discover (DFS): Net income -10% Y/Y. Revenue of $1.85B, flat Y/Y. Credit card loans +3.6% Y/Y, card sales volume +5% Y/Y. Credit card delinquencies fall to 1.91% from 2.22%. Net charge-off rate to 2.79% from 3.07%. Loan loss reserves are cut $122M vs. $226M last quarter. Shares -2.5% premarket.

    | Jun. 19, 2012, 8:50 AM
  • Jun. 19, 2012, 8:43 AM
    Discover Financial Services (DFS): FQ2 EPS of $1.00 in-line. Shares -1.1% premarket. (PR)
    | Jun. 19, 2012, 8:43 AM
  • Jun. 19, 2012, 3:34 AM
    The CFPB launches a website today that will publicly list complaints made by credit card customers against specific banks and lenders. The watchdog agency says its goal is to make the credit card market more transparent, though the banking industry is braced for a wave of reputation-tarnishing claims.
    | Jun. 19, 2012, 3:34 AM | 1 Comment
  • Jun. 19, 2012, 12:05 AM
    Notable earnings before Tuesday’s open: DFS, FDX, JEF
    | Jun. 19, 2012, 12:05 AM
  • Jun. 18, 2012, 5:30 PM
    Notable earnings before Tuesday’s open: DFS, FDX, JEF
    | Jun. 18, 2012, 5:30 PM
  • Jun. 12, 2012, 7:48 AM

    Discover (DFS) gets into the mortgage origination business, launching Discover Home Loans today. Wells Fargo (WFC) is the industry giant, writing 1 in 3 U.S. mortgages and banking coin thanks to a lack of competition. (PR)

    | Jun. 12, 2012, 7:48 AM
  • Apr. 19, 2012, 6:15 PM
    Banks rating banks: JPMorgan Chase (JPM) is by far the most loved bank among Wall Street analysts, with 87.5% Buy ratings; next are WFC, DFS and COF, earning Buys from 70% or more. Least loved, with fewer than 40% earning Buy ratings: BK, BAC, BBT, TROW, MS.
    | Apr. 19, 2012, 6:15 PM
  • Apr. 13, 2012, 10:00 AM

    The CFPB proposes reversing a ban on high credit card sign-up fees that caps the amount an issuer can charge at 25% of the card’s limit during its first year of use. The agency appears to be backing down from an ongoing legal battle over ways issuers sidestep the current regulation.

    | Apr. 13, 2012, 10:00 AM | 2 Comments
  • Apr. 11, 2012, 7:43 AM

    Credit card lenders issued 1.1M new cards to borrowers with damaged credit in December, up 12.3% Y/Y, and part of a trend of banks tiptoeing back into subprime lending. The banks - needing to make up for billions in lost fee and other income from recent regulatory overhaul - insist they are distinguishing between chronic deadbeats and "fallen angels."

    | Apr. 11, 2012, 7:43 AM | 2 Comments
Company Description
Discover Financial Services is a direct banking and payment services company. The Company offers credit card loans, private student loans, personal loans, home equity loans and deposit products.
Sector: Financial
Industry: Credit Services
Country: United States