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Why Shares of Discover Financial Services Are Plunging Today

TheMotleyFool

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Why Shares of Discover Financial Services Are Plunging Today: https://g.foolcdn.com/editorial/images/740561/generic-downward-7.jpg

Shares of the credit card and payments company Discover Financial Services (NYSE: DFS) were trading roughly 15% lower at 10:40 a.m. ET today after the company reported earnings this morning -- and disclosed a surprising regulatory issue.

Discover reported second-quarter earnings of $3.54 per share on revenue of roughly $3.88 billion, both numbers that missed consensus estimates. But the bigger issue at hand seems to be around a regulatory issue: Discover improperly priced merchant fees on some credit card accounts.

Source Fool.com

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