Discover voices concern about CFPB-FDIC investigation

01/26/2012 | Bloomberg · Wall Street Journal, The

The Consumer Financial Protection Bureau and the Federal Deposit Insurance Corp. are looking into Discover Financial Services' marketing practices. The lender said that the probe might hit net income, but it also noted questions about the CFPB. "Should the CFPB discourage the use of products we offer or steer consumers to other products or services that it deems to be preferable, we could suffer reputation harm and a loss of customers," Discover said in a recent filing.

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Bloomberg · Wall Street Journal, The

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