Since its inception in 1986, the company has become one of the largest card issuers in the United States. Payment Services pretax income of $20 million was down $672 million year-over-year. Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. He is also chairman and chief executive officer of Paragon Biosciences, LLC, an affiliated global life science innovation and investment firm. The investigation is ongoing and is being conducted by a board-appointed independent special committee. He joined Discover in December 2019 and has more than 20 years of information technology experience in financial services and analytics at organizations such as LexisNexis, Ernst & Young, LLP, Connexion Point, LLC, and Hartford Financial Services. It operates the Discover Global Network comprised of Discover Network, with millions of merchants and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. PULSE dollar volume was flat year-over-year primarily driven by receding spend on debit products related to the end of federal stimulus programs. The company is suspending until further notice its existing share repurchase program because of an internal investigation relating to its student loan servicing practices and related compliance matters. Loans, Cash The small village is centred around its traditional church, which is surrounded by a circle of medieval houses that formed the original defences for the village. Since its inception in 1986, the company has become one of the largest card issuers in the United States. I am confident that he will help Discover continue to succeed as a leading digital bank and payments company and look forward to Johns contributions as a member of our already strong Board.. of Use, Credit of Use, Credit Create your Watchlist to save your favorite quotes on Nasdaq.com. Media Contact You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Since joining Discover in 2007, Dan has held leadership positions in the deposits business and corporate finance. 224-405-1888 Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. Agreement, Home The student loan net charge-off rate was 1.08%, up 55 basis points from the prior year and up 39 basis points from the prior quarter. For more information, visit www.discover.com/company. Responsibility, Diversity & Carlos Minetti has served as executive vice president, president of consumer banking since February 2014. Loans, Student Prior to that, Owen was senior vice president of Global Systems Development for Citicorp Credit Services, chief information officer of North American operations for Arrow Electronics and senior vice president of technology for American Airlines. Active in the community, Mr. Owen has served on the boards of directors for the Birmingham Business Alliance, Innovation Depot and the United Way of Central Alabama, as well as the advisory board for the UAB Collat School of Business. Back Credit Card, Travel His experience and knowledge of the business will be invaluable to us in his new capacity as chairman, said Hochschild, who also is a board member. In 2021, Owen retired from Regions Financial after a successful 14-year tenure with the company where he oversaw the banks technology transformation, cybersecurity, data and analytics and artificial intelligence (AI) efforts. Prior to joining Discover, Andy was an independent advisor from 2017 to 2018, and held various positions at McKinsey & Company from 1995 to 2017, where he was elected a senior partner in 2009. RIVERWOODS, IL - January 15, 2016 - Discover Financial Services (NYSE: DFS) announced that Joseph F. Eazor has joined the company's Board of Directors. Morningstar. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. She holds a Bachelor of Business Administration degree in accounting from Loyola University. Equity Loans, Personal Mr. Hochschild was president and chief operating officer of Discover from 2004 to 2018. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. David L. Rawlinson II (Photo: Business Wire). Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Wells Fargo Adjusts Discover Financial Services Price Target to $103 From $105, Maintai.. Free Resources From Discovery Education Support Financial Capability Month, Discover Financial Services Announces 2023 Annual Meeting of Shareholders, AL RAJHI BANKING AND INVESTMENT CORPORATION, HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED, President, Chief Executive Officer & Director, Chief Financial Officer & Executive Vice President, Chief Human Resources & Administrative Officer. He continues to serve on Clarios board. Prior to joining Discover, John served as executive vice president, chief financial officer and treasurer at Bioverativ, a global biopharmaceutical company. Change value during other periods is calculated as the difference between the last trade and the most recent settle. Roger C. Hochschild was named chief executive officer and president, effective October 2018, and was elected to the Discover board of directors in August 2018. Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Copyright 2023 Surperformance. For more information, visit www.discover.com/company. These symbols will be available throughout the site during your session. @Discover_News, Investor Relations Gregory C. Case Director - Compensation and Leadership Development Committee (Chair) 224-405-1888 After submitting your request, you will receive an activation email to the requested email address. He was executive vice president, chief administrative and strategic officer for Morgan Stanley from 2001 to 2004, and was executive vice president, chief marketing officer - Discover from 1998 to 2001, when Discover was a part of Morgan Stanley. He served on the board of MonotaRO Co. Ltd., a top Japanese e-commerce and industrial retail firm, from 2014 to 2019. Mr. Moskow was a Deputy U.S. Trade Representative, following his appointment by President Bush in 1991, and earlier in his career, he held a number of senior positions with the U.S. government, including undersecretary of labor at the U.S. Department of Labor, director of the Council on Wage and Price Stability and senior staff economist with the Council of Economic Advisers. Discover Financial Services (NYSE: DFS) announced today that its Board of Directors has approved a new $1.1 billion share repurchase program, having suspended share repurchases since March 2020 in response to the economic recession. jondrummond@discover.com Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Please Note: JavaScript is not enabled in your web browser. Equity Loans, Personal Discover Named to 2023 Fortune 100 Best Companies to Work For list, Ranking No. Discovers Board will now stand at thirteen directors. Discover Financial Services (NYSE: DFS): Total revenue net of interest expense (in millions). Prior to that, Owen was senior vice president of Global Systems Development for Citicorp Credit Services, chief information officer of North American operations for Arrow Electronics and senior vice president of technology for American Airlines. Sources: FactSet, Dow Jones, Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. If you experience any issues with this process, please contact us for further assistance. Owen was elected to Discovers Board of Directors and appointed to the Boards Risk Oversight Committee on June 6, 2022. Copyright FactSet Research Systems Inc. All rights reserved. These forward-looking statements speak only as of the date of this press release, and there is no undertaking to update or revise them as more information becomes available. His background in information solutions and global perspective will help Discover continue to succeed as a leading digital consumer bank.. Financial, statistical, and business related information, as well as information regarding business and segment trends, is included in the financial supplement filed as Exhibit 99.2 to the company's Current Report on Form 8-K filed today with the Securities and Exchange Commission (SEC). Credit Card, Student Delayed Nyse To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Ms. Bush was the inaugural head and managing director of the Federal Housing Finance Board, where she established financial policies and oversaw management and safety and soundness for the nations Federal Home Loan Banks. The company was founded in 1960 and is headquartered in Riverwoods, IL. It operates under the Digital Banking and Payment Services segments. Jon Drummond FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. The Board of Directors of Discover Financial Services declared a semi-annual cash dividend on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series D, in the amount of $3,062.50 per share. Discover Financial Services : BOARD OF DIRECTORS APPROVES REPURCHASE OF UP TO $2.4 BILLION OF COMMON STOCK AND INCREASES THE QUARTERLY COMMON STOCK DIVIDEND 14% FROM $0.44 TO $0.50 PER SHARE (Form 8-K) | MarketScreener Homepage Equities United States Nyse Discover Financial Services News Summary (DFS) Add to my list Report Back Rewards, Refer Us, Terms Our success is built on diverse corporate management and financial industry experience. Weinbach, who was 80, joined Discover as an original board member when the company went public in 2007 and was lead director on Discovers board from 2009 to 2018. Mr. Eazor also served on the board of Commvault, a data protection and information management company, from 2015 to 2018. Services may be provided by Western Union Financial Services, Inc. NMLS# 906983 and/or Western Union International Services, LLC NMLS# 906985, which are licensed as Money Transmitters by the New York State Department of Financial Services. Tickets cost 110 - 150 and the journey takes 3h 19m. You can sign up for additional alert options at any time. robertweiss@discover.com Blablabus also services this route 6 times a week. He has also served as a member of the Nielsen Holdings Board since 2017. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Independent board of directors and a qualified audit committee. The total net charge-off rate of 1.80% was 32 basis points lower versus the prior year period reflecting strong credit performance across the portfolio. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. Back Rewards, Refer Total operating expenses were up $94 million year-over year, or 9%, driven by higher expenses for marketing and employee compensation partially offset by lower information processing. By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. Amir Arooni joined Discover in March 2020 as executive vice president, chief information officer. 224-405-5923 ericwasserstrom@discover.com, Media Contact: Back Credit Card, Travel RIVERWOODS, Ill.--(BUSINESS WIRE)-- Resources, ATM She was executive vice president and chief technology officer from 1998 to 2008. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. CEO and Executive Team. John Owen (Photo: Business Wire) https://www.businesswire.com/news/home/20220607006303/en/, Do Not Sell My Personal Information (CA Residents Only). Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. Rawlinson was elected to Discovers Board of Directors and appointed to the Boards Audit Committee on Feb. 22. The Board of Directors of Discover Financial Services declared a quarterly cash dividend of $0.50 per share of common stock payable on December 9, 2021, to holders of record at the close of business on November 24, 2021. Robert Weiss, 224-405-6304 Since its inception in 1986, the company has become one of the largest card issuers in the United States. If JavaScript is disabled, some of the functionality on our website Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. Credit Card, Business will not work, such as the display of rates and APRs. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. 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