By Aaron Nicodemus2023-08-21T18:20:00
Discover Financial Services is “paying the price” for underinvesting in compliance over the past several years and has been ramping up spending and hiring to catch up, two senior executives said in a recent call with analysts.
In a business update call Thursday, Discover Chief Financial Officer John Greene said the company had “historically underinvested” in compliance and that the company was “paying the price right now.”
“We’re going to make sure we don’t underinvest going forward,” he said, adding the company is “ensuring that we don’t put profits before compliance excellence.”
2025-07-08T19:50:00Z By Aaron Nicodemus
Federal banking regulators have laid the blame for Discover Financial Services charging merchants $1 billion in excessive credit card fees over 17 years squarely at the feet of company executives.
2023-10-03T20:11:00Z By Jeff Dale
Discover Financial Services disclosed it avoided a monetary penalty in agreeing to a consent order with the Federal Deposit Insurance Corporation over alleged compliance shortcomings at its subsidiary bank.
2023-09-05T19:37:00Z By Jeff Dale
Discover Financial Services faces a class-action lawsuit from investors alleging materially false and misleading statements regarding its business, operations, and compliance policies.
2025-09-25T20:36:00Z By Jaclyn Jaeger
New regulations, changing consumer demands, and global supply chain disruptions – from cost-of-goods inflation to tariffs to raw material shortages, and more – are just a few top challenges reshaping the operations of food and beverage industry today. “These challenges are no longer just logistical—they implicate sourcing risk, contract performance, ...
2025-09-17T19:03:00Z By Ruth Prickett
More than half of all compliance teams are “actively using” or “piloting” AI applications, according to a Moody’s report. While most are focusing on streamlining routine tasks, some are developing AI agents and asking vital questions about AI decision-making.
2025-08-06T14:00:00Z By Aaron Nicodemus
The Trump administration’s designation of Mexican cartels as terrorist organizations in February has made doing business in Mexico riskier than ever before for corporations.
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