TITLE

Discover Profits Drop as New Card Restraints Take Their Toll

AUTHOR(S)
Aspan, Maria
PUB. DATE
December 2009
SOURCE
American Banker;12/18/2009, Vol. 174 Issue F318, p13
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The author reports that Discover Financial Services' fourth-quarter profits fell now that new restrictions on credit card rates have precipitated a decline in interest income. Discover chief executive officer David Nelms was quoted as saying that the company remains profitable even with a large number of chargeoffs.
ACCESSION #
46821022

 

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