Discover Profit Falls on Credit-Card Debts
Bloomberg — Discover Financial Services, the credit-card company spun off from Morgan Stanley, dropped 8.2 percent after saying more overdue payments from customers curbed second-quarter profit. Income from continuing operations in the period ended May 31 fell 19 percent to $202 million, or 42 cents a share, from $250 million, or 52 cents, a year [...]
New credit card rules could affect you
Proposals by federal bank regulators would zap questionable credit card practices. But while consumer advocates say the proposals are good first steps to rein in abusive tactics, card issuers bristle they will drive up costs and make credit less available. John Ulzheimer, president of consumer education for credit.com, a credit education and financial services Web [...]