Discover Sees Higher Charge-offs in Second Half of 2006

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00010583-discover-sees-higher-charge-offs-in-secon/

Discover is preparing itself for higher losses from weakening consumer credit quality later this year, according to statements made Wednesday by Morgan Stanley CFO David Sidwell.

Sidwell stated that Discover will discover a “softening in credit quality in the second half of the year as more difficult economic conditions put pressure on consumers.”

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