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News Breaks | | | | September 24, 2012 | | 10:43 EDT |  | DFS | Discover Bank ordered to pay $200M consumer refund by FDIC, CFPB
The FDIC and the Consumer Financial Protection Bureau announced a joint public enforcement action with an order requiring Discover Bank to refund approximately $200M to more than 3.5 million consumers and pay a $14M civil money penalty. This action results from an investigation started by the FDIC, which the CFPB joined last year. The joint investigation concerned deceptive telemarketing and sales tactics used by Discover to mislead consumers into paying for various credit card “add-on products” – payment protection, credit score tracking, identity theft protection, and wallet protection. The agencies jointly determined that Discover engaged in deceptive telemarketing tactics to sell the company’s credit card add-on products. | |
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News For DFS From The Last 14 Days Check below for free stories on DFS the last two weeks. |
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| May 16, 2013 | | 08:11 EDT |  | DFS | Discover network business remains undervalued, says Susquehanna
Susquehanna believes Discover's network business is still undervalued calling a hidden asset. The firm expects the company's multiple to expand as the network surfaces on the PayPal and other partnerships. Shares are Positive rated with a $49 price target. | | | May 15, 2013 | | 07:25 EDT | | DFS | Discover reports April net charge-offs 1.94% vs. 2.13% last month
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