Discover Lowers Provision for Credit Losses Amid ‘Positive Credit Trends'

Positive credit trends contributed to “solid first quarter financial performance” at Discover Financial Services, Discover Interim CEO and President Michael Shepherd said in a Wednesday (April 23) earnings release.The digital banking and payment services company saw its net income leap 30% year over year in the first quarter to reach $1.1 billion, according to the release.Shepherd said Discover’s financial performance benefited from “strong net interest margin and positive credit trends.”The company’s net i ...