Discover Finl Svcs Stock Price, News & Analysis

Discover's annual survey reveals that 72% of parents with college-bound children plan to fill out the FAFSA this fall, a notable increase from 58% who were previously not considering it. The survey highlights financial strain due to economic uncertainties, with 53% of parents feeling they can't cover tuition costs. Despite this willingness to apply for federal aid, many parents lack essential knowledge about FAFSA deadlines and requirements. Discover offers resources, including online guides, to assist families in navigating the financial aid process.

Discover Financial Services is hiring 2,000 customer care positions across Arizona, Delaware, Illinois, Ohio, and Utah, with remote work options available. The roles offer competitive benefits, including a $500 home office setup stipend, 20 days of paid time off, and day-one medical, dental, and vision coverage. The starting wage for agent roles is $17 per hour, with potential earnings up to $22.76 per hour. Discover's education assistance program, Shine Brighter U, provides significant tuition benefits, saving employees over $23 million since 2018.

Discover has launched its new Advanced Analytics Resource Center (AARC) in downtown Chicago, welcoming 75 employees. This initiative emphasizes Discover's commitment to technology and analytics while boosting job opportunities in the area. The program aims to provide career development through diverse project rotations. Discover plans to introduce an additional cohort of 75-100 employees in 2023. This follows the opening of a customer care center in Chatham, intended to employ over 1,000 by 2024. The AARC@606 strengthens Chicago's tech reputation.

Discover Financial Services (NYSE: DFS) will have its CFO, John Greene, present at the Barclays Global Financial Services Conference on September 13, 2022, at 10:30 a.m. ET. Live webcast details will be available on Discover's Investor Relations website. Post-conference, a replay will be accessible for 90 days.

Discover, founded in 1986, is a prominent digital banking and payment services company in the U.S., known for the Discover® card and offering various financial products including loans and deposit accounts. More information can be found at www.discover.com/company.

Discover has inaugurated its new Chatham Customer Care Center and Shine Bright Community Center on Chicago's South Side. With the aim to employ over 1,000 individuals by 2024, the center will also offer free space for community organizations and a tech hub for career development. The facility has already exceeded customer satisfaction goals and prioritizes local hiring and minority-owned businesses. Discover's commitment to the local community is evident through its support of the INVEST South/West initiative, promoting economic growth in the region.

Discover Financial Services has appointed Mindshare as its US media agency of record, focusing on a full-funnel media and marketing strategy. This collaboration aims to enhance audience engagement, account acquisition, and customer retention. Amanda Richman, North America CEO of Mindshare, expressed excitement about partnering with Discover, highlighting their shared vision for customer-centric growth. Discover's Chief Marketing Officer, Kate Manfred, emphasized the need for a holistic media strategy to navigate the evolving financial services landscape.

Discover Financial Services (NYSE: DFS) reported a net income of $1.1 billion or $3.96 per diluted share for Q2 2022, down 35% from $1.7 billion or $5.55 per diluted share in Q2 2021. Total revenue decreased 10% year-over-year to $3.224 billion. Total loans rose 13% to $99.3 billion, while the net charge-off rate improved to 1.80%. The Board declared dividends for preferred and common stock, with a quarterly dividend of $0.60 per common share. The company has suspended its share repurchase program due to an ongoing investigation into student loan servicing practices.

Discover Financial Services announces a public voting event for students to select the next design for its Discover Student Cards. Beginning on July 18 and running until August 26, students can choose from three vibrant designs by artist Dana Komsky: 'Go with the Flow,' 'Rainbow Frogs,' and 'For the Foodies.' This initiative aims to engage customers in the card design process, reflecting Discover's commitment to innovation in the banking sector.