Discover Financial: Inflation Is Pressuring Lower Income Consumers
Discover Financial Services(DFS) PYMNTS·2024-04-18 23:03
The $35 billion deal for Capital One to buy Discover Financial Services remains on track.And in a truncated first-quarter earnings call — where the usual question-and-answer session was not part of the proceedings — Discover’s management noted that consumer loans are on the upswing. In the meantime, credit card spending has been pressured by inflation.CFO John Greene said in his prepared remarks on the Thursday (April 18) call that card sales were down 1% compared to the prior year quarter.“Sales slowed acr ...