Personal loans increased $280 million, or 4%, and private student loans increased $210 million, or 2%, year-over-year. After submitting your request, you will receive an activation email to the requested email address. For more information, visit www.discover.com/company. Discover, Corporate At Discover Financial Services, we promise to treat your data with respect and will not share your information with any third party. The 30+ day delinquency rate for credit card loans was 1.76%, up 33 basis points year-over year and down 1 basis point from the prior quarter. Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle. By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. 224-405-4555 @Discover_News, Investor Relations Discover Financial Services (NYSE: DFS) today reported net income of $1.1 billion or $3.96 per diluted share for the second quarter of 2022, as compared to a net income of $1.7 billion or $5.55 per diluted share for the second quarter of 2021. Morningstar. David L. Rawlinson is the president, chief executive officer and a member of the board of directors for Qurate Retail, Inc. which is comprised of seven leading retail brands and primarily operates e-commerce and digital shopping hubs. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. NOTE: Each bank's board of directors and senior management are responsible for establishing and maintaining an effective system of internal control, including controls over the Reports of Condition and Income. Credit Card, Student By providing your email address below, you are providing consent to Discover Financial Services to send you the requested Investor Email Alert updates. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Locator, Credit The Payment Services segment includes PULSE, Diners Club, and the Network Partners business, which provides payment transaction processing and settlement services on the Discover Global Network. He also held various CFO roles in his 12-year tenure with General Electric from 1993 to 2005. See terms and conditions for details. Credit Card, Business Locator, Credit Us, Terms Ms. Bush served on the board of Marriott International, Inc. from 2008 to 2020. Lower revenue was driven by a $729 million gain on an equity investment in the prior year compared to $42 million net losses on equity investments in the current year quarter. The Board of Directors of Discover Financial Services declared a semi-annual cash dividend on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series C, in the amount of $2,750 per share. Net interest income for the quarter increased $311 million, or 14% driven by higher average receivables and net interest margin expansion. https://www.businesswire.com/news/home/20220607006303/en/, Do Not Sell My Personal Information (CA Residents Only). Board of Directors Declares Semi-Annual . Credit Card, Cardmember 224-405-4555 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. Credit Card, Business In order to enjoy the full experience of the Discover website, please turn JavaScript on. Previously, Mr. Rawlinson was the Chief Executive Officer of NielsenIQ (formerly Nielsen Global Connect), a global data and measurement company, from February 2020 to March 2021. Prior to joining Discover, John served as executive vice president, chief financial officer and treasurer at Bioverativ, a global biopharmaceutical company. Flayosc is a pretty medieval village that is less touristic than many of the villages in this region. You must click the activation link in order to complete your subscription. [email protected] RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover Financial Services announced today that David L. Rawlinson II, chief executive officer of NielsenIQ, has joined the companys Board of Directors. . Credit Card, Student Responsibility, Diversity & Agreement, Home She previously served as Time, Inc.s president of digital and then its chief operating officer from 2016 to 2018, where she led growth strategy and digital business transformation. If JavaScript is disabled, some of the functionality on our website Mr. Rawlinson worked for ITT Exelis (formerly ITT Corp.) from 2009 to 2012, most recently as Vice President, General Counsel and Director of Corporate Responsibility of the Electronic Systems division. Rawlinson has significant experience in global e-commerce, consumer trends, consumer data, and digital business-to-business operations. and succession, compensation, corporate governance, public policy, international matters, banking and financial services. Discover, Unrealized Gains/(Losses) on Equity Investments, Realized Gains/(Losses) on Equity Investments, Net Income/(Loss) Allocated to Common Stockholders, Total Liabilities and Stockholders' Equity, Note: See Glossary for definitions of financial terms in the financial supplement which is available online at the SEC's website (. Chantal currently serves as Director and Senior Counsel - Litigation at Discover Financial Services. Mr. Hochschild was president and chief operating officer of Discover from 2004 to 2018. Discover Financial Services : BOARD OF DIRECTORS APPROVES REPURCHASE OF UP TO $4.2 BILLION OF COMMON STOCK AND INCREASES THE QUARTERLY COMMON STOCK DIVIDEND 20% TO $0.60 PER SHARE - Form 8-K. . 12 members +7. You can sign up for additional alert options at any time. From 1993 to 1998, Diane was at MBNA America Bank, most recently as senior executive vice president. RIVERWOODS, Ill.--(BUSINESS WIRE)-- Please Note: JavaScript is not enabled in your web browser. Owens track record of innovation for Regions includes his fintech partnership strategy, launching a new business focused on serving the underbanked population and the development of Regions mobile app, John brings nearly four decades of experience in the banking industry and has a wealth of knowledge related to technology transformation to enhance the customer experience, said Roger Hochschild, CEO and President of Discover. Keith Toney joined the Executive Committee in November 2020 as executive vice president, chief data and analytics officer. 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 direct banking business. Interested parties can listen to the conference call via a live audio webcast at https://investorrelations.discover.com. For more information, visit www.discover.com/company. Personal loans net charge-off rate of 1.21% was down 59 basis points from the prior year and up 9 basis points from the prior quarter. Bush is a member of the board of directors of ManTech International Corporation, T. Rowe Price Group, Inc., and Bloom Energy. 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. Source: FactSet. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Hope Mehlman joined Discover in January 2023 and is the chief legal officer, general counsel and secretary. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Discover Financial Services (NYSE: DFS): Total revenue net of interest expense (in millions). Credit Card, NHL Below you can see some of the places that we have visited and reviewed and can recommend when you are sightseeing close to Callas in Provence-Alpes-Cte d'Azur. Our directors have a combined wealth of leadership experience derived from extensive service guiding large, complex organizations as executive leaders or board members, and in government and academia. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. He has also served as a member of the Nielsen Holdings Board since 2017. 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. The amount and timing of any future dividends and share repurchases are subject to the discretion of the companys board of directors and will depend upon the companys results of operations, financial condition, cash requirements, future prospects, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking regulations) and other factors, and may be subject to regulatory approval or conditions. Loans, Cash Thomas G. Maheras was appointed independent chairman in May 2020, following his service as director starting in 2008. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Copyright 2023 Surperformance. Eric Wasserstrom Mr. Eazor previously served as the president and chief executive officer of Earthlink, Inc., a leading communications and IT services provider, and was a member of EarthLinks board from January 2014 until February 2017. He has also served as a member of the Nielsen Holdings Board since 2017. 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. Equity Loans, Personal Network Partners volume increased 22% from the prior year primarily reflecting higher AribaPay volume. For more information, visit www.discover.com/company. Eric Wasserstrom a Friend, About Director, Chief Executive Officer and President, Executive Vice President, Chief Financial Officer, Executive Vice President, Chief Information Officer, Executive Vice President, President US Cards, Executive Vice President, Chief Human Resources and Administrative Officer, Executive Vice President, Chief Legal Officer, General Counsel and Secretary, Executive Vice President, President - Consumer Banking, Executive Vice President, President - Payment Services, Executive Vice President, Chief Risk Officer, Executive Vice President, Chief Data and Analytics Officer. Back Rewards, Refer Interest expense as a percent of total loans decreased 7 basis points from the prior year period, primarily driven by the maturity of high coupon consumer CDs and a favorable shift in the funding mix. The Discover Board of Directors has appointed board member Thomas Maheras as Chairman, effective immediately, following the unexpected May 1 death of Chairman Lawrence Weinbach. Dan Capozzi was named executive vice president, president - US Cards in December 2020. Additional factors impacting dividends and share repurchases can be found in "Business - Supervision and Regulation", Risk Factors and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's annual report on Form 10-K for the year ended December 31, 2020, and Risk Factors in the companys quarterly report on Form 10-Q for the quarter ended June 30, 2021, which are filed with the SEC and available at the SEC's website (www.sec.gov). He began his career in information systems with McDonnell-Douglas. The Discover Board of Directors has appointed board member Thomas Maheras as Chairman, effective immediately, following the unexpected May 1 death of Chairman Lawrence Weinbach. M.B.A. from the University of Chicago. Now, Diners Club International Ltd. is a direct banking and payment services company owned by Discover Financial Services (NYSE: DFS), one of the most recognized brands in US financial services. If you experience any issues with this process, please contact us for further assistance. Our solid second quarter results reflected robust revenue growth, characterized by strong sales, increased receivables growth and margin expansion, said Roger Hochschild, CEO and President of Discover. @Discover_News, Investor Relations Additional factors that could cause the company's results to differ materially from those described in the forward-looking statements can be found under Risk Factors, Business - Competition, Business - Supervision and Regulation and Management's Discussion and Analysis of Financial Condition and Results of Operations in the company's Annual Report on Form 10-K for the year ended December 31, 2021, "Risk Factors" and Management's Discussion & Analysis of Financial Condition and Results of Operations in the company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 which is filed with the SEC and available at the SEC's internet site (http://www.sec.gov) and subsequent reports on Forms 8-K and 10-Q, including the company's Current Report on Form 8-K filed today with the SEC. 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