Discover Charge-Offs Improve and Debit Volumes Grow as Consumers Are ‘Stable'

Highlights Discover reported stable consumer financial habits and improving credit metrics in Q1, including lower 30+ day delinquency rates. While Discover card sales were down 2% year over year due to past credit tightening actions, PULSE network volumes increased by 3% driven by growth in debit spending. Discover Interim CEO Michael Shepherd said the company's acquisition by Capital One is expected to increase competition in payment networks, offer a wider range of products, and increase resources for inn ...