JPMorgan Chase & Co., Bank of America Corp. and American Express Co. are among credit-card lenders retreating from a $2.4 billion market as regulators seek curbs on deceptive marketing of products including debt cancellation.
Visa Inc. , the world’s biggest payments network, is to blame for a U.S. Senate proposal that would cap fees merchants pay to accept debit cards, Discover Financial Services Chief Executive Officer David Nelms said.
Discover Financial Services Chief Executive Officer David Nelms , whose company is buying Citigroup Inc.’s education loan unit, said risks in private student lending are overblown and that more growth is ahead.
Discover Financial Services, the second-best performer among 81 U.S. financial firms this year, fell the most since June after Chief Executive Officer David Nelms said sales tumbled in the wake of superstorm Sandy.
Discover Financial Services Chief Executive Officer David Nelms said he remains “guarded” about how much confidence consumers have in the strength of the U.S. economy as they cope with high fuel prices.