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Discover Financial Service's Rising Credit Card Delinquency
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Discover Financial Service reports a rise in credit card delinquency rates to 3.9%, with charge-offs increasing. The company also experienced growth in card loans and a decline in payment rates. Direct-to-consumer balances increased, and PULSE volumes were up by 19% year over year. Discover Financial Service anticipates losses to rise and plans to explore the sale of its student loan business.
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How might the rising credit card delinquency rates impact the financial stability of individual customers and the broader economy?
In what ways could the exploration of selling the student loan business affect the company's financial position and market positioning?
What strategies could Discover Financial Service employ to mitigate the potential increase in card charge-offs?
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