You can also click on the following link or paste it in your browser: If you are a Discover Financial investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP : Jonathan Naji, Esq. Discover Financial also disclosed that it received a proposed consent order from the FDIC for a consumer compliance issue which is different than the misclassification matter.įollowing this news, Discover Financial's stock price declined over 14%, to close at $102.83 on July 20, 2023. Discover Financial indicated the company is discussing the matter with regulators and warned it could face future regulatory actions. Specifically, Discover Financial revealed that it misclassified certain credit card accounts into its highest pricing tier, starting in 2007, meaning merchants were charged more than they should have been to accept the cards for payment. ![]() On July 19, 2023, Discover Financial disclosed in a statement that the company had misclassified some of its credit cards. ![]() RADNOR, PA / ACCESSWIRE / J/ The law firm of Kessler Topaz Meltzer & Check, LLP ( is currently investigating potential violations of the federal securities laws on behalf of investors of Discover Financial Services (NYSE:DFS) ("Discover Financial").
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