Discover Financial (DFS) Resolves Merchant Lawsuit Amid Merger [Yahoo! Finance]
Discover Financial Services (DFS)
Last discover financial services earnings: 4/22 05:35 pm
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US:NYSE Investor Relations:
investorrelations.discover.com
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Source: Yahoo! Finance
The company, which had increased the amount to cover liabilities related to the issue to $1.2 billion, expects this amount to fully address the settlement, pending court approval. The misclassification, affecting certain credit card accounts since 2007, led to merchants being charged a higher amount of fees. This development resulted in Discover Financial suspending stock buybacks last year and undertaking internal reviews. Moreover, the company made settlement disbursements worth $9 million in the first quarter of 2024. This settlement comes at an opportune time as Discover Financial navigates a significant $35.3 billion acquisition by Capital One Financial Corp. The merger aims to create a solid global payments platform, integrating 70 million merchant acceptance points worldwide. The resolution of the merchant overcharging lawsuit highlights Discover Financial's strong stance in addressing compliance issues ahead of the merger with Capital One. By settling legal liabilities,
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DFS
News
- Banks that have cut or eliminated overdraft fees [Yahoo! Finance]Yahoo! Finance
- Discover Financial Services (NYSE: DFS) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Discover's CIO says AI in financial services is still in the ‘early stages' as the industry navigates 2 risks [Fortune]Fortune
- Discover Financial Services Announces Third Quarter 2024 Earnings Release on October 16, 2024, and Conference Call on October 17, 2024Business Wire
- Discover Financial Services CIO On Innovation And FinTech's Future [Forbes]Forbes
DFS
Earnings
- 7/17/24 - Beat
DFS
Sec Filings
- 9/13/24 - Form 8-K
- 9/13/24 - Form 425
- 9/6/24 - Form 8-K
- DFS's page on the SEC website