Company Directory - Discover Financial Services, Inc.
Company Details - Discover Financial Services, Inc.
Discover Financial Services, Inc.
WebsiteRiverwoods, United States
ISIN: US2546871060
Discover Financial Services, Inc. is a diversified financial services company that operates the Discover card network and provides consumer banking, credit cards, digital banking, personal loans, and payment services. Its offerings include the Discover® Cashback Debit Account, which rewards users with cash back on eligible debit card purchases. The company is known for its customer-centric approach and innovative rewards programs.
CCI Score
CCI Score: Discover Financial Services, Inc.
-7.50
Latest Event
Discover Financial Services Political Influence and Lobbying Profile
An OpenSecrets profile reveals that Discover Financial Services engaged in significant political spending during the 2024 cycle, with $1,732,380 in contributions and $2,160,000 in lobbying, alongside a notable revolving door of former government employees now serving as lobbyists. These activities raise concerns about the influence of corporate finances on policy-making and potential ties to regulatory capture.
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COLLABORATOR
Discover Financial Services, Inc. is currently rated as a Collaborator.
Latest Events
- FEB062025
An OpenSecrets profile reveals that Discover Financial Services engaged in significant political spending during the 2024 cycle, with $1,732,380 in contributions and $2,160,000 in lobbying, alongside a notable revolving door of former government employees now serving as lobbyists. These activities raise concerns about the influence of corporate finances on policy-making and potential ties to regulatory capture.
-40
Political Contributions and Lobbying Efforts
March 21
Discover Financial Services reported significant political contributions ($1,732,380) and lobbying expenditure ($2,160,000) in the 2024 cycle. This level of spending raises red flags about the potential for undue corporate influence on the political system, thereby contributing to an environment where corporate interests may override democratic accountability.
-30
Executive Political Engagement
March 21
The data also highlights a revolving door phenomenon, with a significant proportion of Discover’s lobbyists having previously held government positions (10 out of 16 in 2023 and 13 out of 20 in 2024). Such close ties between former public officials and corporate lobbying efforts can lead to regulatory capture and undermine democratic oversight.
- FEB062025
Analysis of Discover Financial Services' political contributions and revolving door lobbying practices as reported by OpenSecrets. The profile highlights that the company contributed over $1.7 million in the 2024 cycle and exhibits significant revolving door phenomena, where many lobbyists have previously held government roles. Such patterns raise concerns about undue political influence and potential complicity in undermining democratic processes from an anti-fascist perspective.
-60
Political Contributions and Lobbying Efforts
March 25
OpenSecrets data reveals that Discover Financial Services has engaged in substantial political contributions and lobbying activities, with more than $1.7 million donated in the 2024 cycle. Moreover, the revolving door aspect, with many lobbyists having government backgrounds, suggests potential conflicts of interest and amplified political influence that can undermine democratic processes. From an anti-fascist perspective, these practices contribute to an environment enabling authoritarian influences.
- FEB062025
OpenSecrets data reveals that Discover Financial Services contributed approximately $1.73 million and spent about $2.16 million on lobbying in the 2024 election cycle, with a notable proportion of its lobbyists having previous government experience, illustrating deep corporate-political ties.
-30
Executive Political Engagement
March 28
The significant revolving door presence among the company’s lobbyists indicates strong ties between corporate executives and former government officials, which can lead to regulatory capture and diminished democratic oversight.
-35
Political Contributions and Lobbying Efforts
March 28
The disclosed figures for political contributions and lobbying spending, combined with the revolving door phenomenon (with 10 of 16 lobbyists in 2023 and 13 of 20 in 2024 previously holding government positions), pose concerns about undue corporate influence on policymaking processes, potentially undermining democratic accountability.
- JAN012025
Discover Financial Services demonstrates its commitment to diversity, equity, and inclusion by promoting inclusive hiring practices, robust employee resource groups, and partnerships with local organizations. This initiative reflects a positive stance on labor relations and human rights, aligning with anti-fascist values.
+80
Labor Relations and Human Rights Practices
March 21
The content published on Discover's DEI page emphasizes inclusive practices through diverse hiring, employee resource groups, and community partnerships. This commitment bolsters fair labor practices and the protection of workers' rights, which are key aspects in resisting authoritarian and fascist tendencies.
- DEC312024
Discover Financial Services spent $2,160,000 on lobbying in 2024, an activity that raises concerns over their influence on political processes and potential support for authoritarian policies.
-70
Political Contributions and Lobbying Efforts
March 21
The reported $2.16M lobbying expenditure in 2024 by Discover Financial Services indicates aggressive political engagement. From an anti-fascist perspective, such significant spending on lobbying can be seen as an attempt to influence policy in ways that may undermine democratic norms and enable authoritarian measures.
- DEC312024
Discover Financial Services spent $2,160,000 on lobbying in 2024, indicating a significant investment in political influence that raises concerns among anti-fascist activists regarding the potential undermining of democratic accountability.
-40
Political Contributions and Lobbying Efforts
March 25
The disclosed lobbying expenditure of $2,160,000 in 2024 by Discover Financial Services highlights a corporate effort to shape public policy in favor of its interests. From an anti-fascist perspective, such substantial spending on lobbying raises red flags as it may contribute to the erosion of democratic oversight, ultimately supporting authoritarian practices by prioritizing corporate power over public welfare.
- OCT012024
A former ESG officer has filed a federal lawsuit alleging breach of the implied covenant of good faith and fair dealing, claiming retaliation and race discrimination after raising concerns internally. This event raises serious questions about Discover Financial Services' labor relations and commitment to ethical business practices.
-60
Labor Relations and Human Rights Practices
March 25
The lawsuit filed by the former ESG officer alleges that Discover Financial Services arbitrarily canceled unvested equity awards and terminated his employment in retaliation after he highlighted issues of race discrimination. Such actions reflect poorly on the company's labor relations and human rights practices, suggesting an environment where employee concerns, especially those related to discrimination, are not adequately addressed. This behavior is indicative of broader ethical and business practice issues that can contribute to oppressive structures.
Ex-ESG Officer Sues Discover Financial Services After Firing
- JAN012024
Discover Financial Services released its Human Rights Commitment Statement, affirming its commitment to uphold fundamental human rights, diversity, and ethical business practices across employees, customers, and suppliers. The statement emphasizes adherence to international labor and human rights standards, ensuring fair labor practices and supplier accountability.
+85
Business Practices and Ethical Responsibility
March 25
Discover Financial Services published its Human Rights Commitment Statement which outlines a strong emphasis on human rights, ethical business conduct, and diversity. The statement underscores adherence to international labor standards, equitable treatment of employees, and requires suppliers to meet similar ethical standards, thereby supporting labor rights and responsible business practices.
- JAN012024
Discover Financial Services released its Supplier Code of Conduct outlining strict ethical standards for its supply chain partners, emphasizing transparency, anti-corruption, labor rights, and responsible business practices.
+80
Business Practices and Ethical Responsibility
March 25
Discover Financial Services' Supplier Code of Conduct reflects a strong commitment to ethical business practices by mandating that suppliers adhere to high standards including zero tolerance for bribery, corruption, and illegal activities. This proactive stance reinforces the company's dedication to overall ethical responsibility.
+75
Supply Chain Ethics
March 25
The document emphasizes rigorous supply chain ethics by requiring suppliers to comply with strict standards on labor rights, human rights, anti-discrimination, environmental sustainability, and data protection. These measures are designed to ensure that business partners operate ethically, thus reinforcing the overall integrity of Discover's supply chain.
- JAN012024
Discover Financial Services, Inc. has publicly committed to upholding strong human rights and labor standards internally and throughout its supply chain. The document emphasizes non-discrimination, dignity at work for employees, and requires its suppliers to adhere to ethical business practices, thereby reflecting a principled stance in business practices and ethical responsibility.
+80
Labor Relations and Human Rights Practices
January 1
The statement demonstrates a strong commitment to labor rights and human rights practices by ensuring that all employees are treated with dignity and respect and are provided with regular ethics training. This proactive approach positively impacts internal labor relations.
+70
Supply Chain Ethics
January 1
The document outlines expectations for suppliers to adhere to ethical standards, including prohibitions against child labor, forced labor, and other human rights abuses. This reflects a commitment to maintaining a responsible and ethical supply chain.
- DEC312023
In 2023, Discover Financial Services was reported to have spent $1,930,000 on lobbying, an action that raises concerns about its political influence and potential complicity in supporting policies that undermine democratic governance.
-40
Political Contributions and Lobbying Efforts
March 21
Discover Financial Services’ expenditure of $1,930,000 on lobbying in 2023, as documented by OpenSecrets, indicates a significant commitment to influencing political processes. This level of spending raises concerns about the company’s role in shaping policies that may favor corporate interests and potentially support authoritarian outcomes by undermining democratic accountability.
- DEC312023
Discover Financial Services spent $650,000 on lobbying activities in 2023, as reported by OpenSecrets, reflecting an effort to influence policy outcomes.
-40
Political Contributions and Lobbying Efforts
March 28
The company’s expenditure of $650,000 on lobbying in 2023 is indicative of a significant investment in influencing policy. Such corporate lobbying activities can contribute to the entrenchment of elite interests and potentially undermine democratic accountability, aligning this action with concerns under the Public and Political Behavior category.
- OCT012023
The company has detailed its approach to political contributions, lobbying, and executive engagement through a transparent disclosure process. Discover’s political activity is managed with strict compliance and ethical oversight, including an employee-funded, non-partisan PAC and regular filing of lobbying reports. While these practices ensure transparency, they also demonstrate the company's active involvement in shaping policy to align with its business interests, which may indirectly influence the political landscape.
+20
Political Contributions and Lobbying Efforts
March 25
Discover Financial Services discloses its political contributions and lobbying activities in a clear and transparent manner. The use of an employee-funded PAC and strict adherence to disclosure requirements demonstrate responsible practices. However, the active lobbying to promote corporate interests highlights a degree of influence over policymaking, which, from an anti-fascist perspective, raises concerns about corporate power in political processes.
+10
Executive Political Engagement
March 25
The active role of senior executives, particularly the VP of Government Relations, in directing public policy engagement indicates a significant level of executive political engagement. While this engagement is conducted with transparency and in compliance with legal standards, it nonetheless serves to advance corporate interests, thus contributing to corporate influence in political processes.
- OCT012023
Discover Financial Services has published detailed disclosures regarding its political activities. The document explains that the company files all state and federal lobbying reports in a complete and timely manner, supports a non-partisan, employee-funded PAC, and restricts corporate funds from being used for political contributions. This transparency and regulated approach demonstrates adherence to ethical political engagement.
+30
Political Contributions and Lobbying Efforts
March 28
Discover's approach to political contributions and lobbying is marked by strong transparency and compliance. The company files comprehensive lobbying disclosure reports and operates a non-partisan, employee-funded Political Action Committee, helping to ensure that its political influence is exercised in a controlled and ethically transparent manner.
+20
Executive Political Engagement
March 28
The disclosure highlights executive oversight in political engagement through the role of the VP of Government Relations, underscoring ethical leadership and adherence to transparent public policy strategies.
- OCT012023
Discover's corporate governance page discloses detailed information on its political activities including lobbying and PAC contributions. The disclosures emphasize transparency, adherence to strict ethical guidelines, and non-partisan political engagement.
+40
Public and Political Behavior
March 21
Discover’s political activity disclosures highlight a commitment to transparency and adherence to ethical standards in its lobbying and employee-funded political contributions. The company does not use corporate funds for partisan activities, and its regular reporting to federal bodies reduces risks of covert influence. While any corporate lobbying carries inherent risks of elite influence, the measures taken here align with responsible political engagement.
- SEP252023
Discover Financial Services received a final consent order from the FDIC on September 25, 2023, for shortcomings in its consumer compliance management system that were tied to unsafe or unsound banking practices. In response, the company initiated remedial actions including enhancing its compliance framework, risk management practices, and board oversight through leadership changes and new board appointments with regulatory experience.
-70
Business Practices and Ethical Responsibility
March 28
The FDIC consent order outlined serious deficiencies in Discover’s consumer compliance management system, noting unsafe or unsound banking practices and non-compliance with various consumer protection laws. This represents a significant blemish on the company’s business practices and ethical responsibility, warranting a strongly negative score.
+10
Public and Political Behavior
March 28
Following the consent order, Discover implemented significant governance changes including the departure of its former CEO and the appointment of board members with regulatory oversight experience. These steps indicate remedial efforts aimed at enhancing transparency and accountability, which, while reactive, contribute positively to public and political behavior.
- SEP012023
A series of lawsuits has been filed against Discover Financial Services alleging that the company and certain executives misrepresented the robustness of its compliance and risk management programs. The lawsuits claim that the misleading disclosures contributed to regulatory scrutiny, overinflated share repurchase programs, and significant financial harm to shareholders.
-80
Business Practices and Ethical Responsibility
March 28
Discover Financial Services is accused of falsely representing a strong compliance and risk management system in SEC filings and public statements while systemic issues persisted. This misrepresentation, contributing to lawsuits and regulatory exposure, undermines ethical business practices.
-60
Economic and Structural Influence
March 28
The allegations also include mismanagement of share repurchase programs where Discover allegedly overpaid by over $1 billion, contributing to drastic share price declines. This suggests a disregard for proper economic governance and shareholder interests.
- NOV082022
Discover Financial Services raised $262,203 during the 2021-2022 election cycle as evidenced by its PAC profile on OpenSecrets. This political contribution, while representing a common practice in corporate political spending, raises concerns among anti-fascist advocates regarding the influence of corporate money in elections and potential alignment with policies that may undermine democratic norms.
-30
Political Contributions and Lobbying Efforts
March 25
The PAC profile from OpenSecrets reveals that Discover Financial Services contributed a notable sum of $262,203 in the 2021-2022 election cycle. From an anti-fascist perspective, corporate political spending of this scale can facilitate undue influence over democratic processes, potentially paving the way for authoritarian-friendly policies. Although such contributions are routine in many sectors, they remain contentious as they may bolster a political environment prone to corporate favoritism and reduced accountability.
- NOV092018
A female employee alleges that Discover Financial Services ignored her complaints of sexual harassment and retaliated against her, leading to her eventual resignation. The case highlights potential systemic failures in protecting labor rights and upholding ethical workplace practices.
-75
Labor Relations and Human Rights Practices
March 25
The article outlines a disturbing instance of workplace harassment, where a female employee alleges that her complaints were ignored and she was retaliated against. This reflects a significant lapse in labor relations and human rights practices within Discover Financial Services. The failure to address such issues not only undermines worker rights but also supports a corporate culture that can contribute indirectly to authoritarian practices by suppressing dissent and perpetuating inequality.
Discover Financial Covered Up Harassment, Female Worker Says (1)
- JAN011970
The FEC webpage reveals the existence of the Discover Financial Services Political Action Committee, which displays itemized transaction data and underscores the company's active involvement in federal campaign finance activities. While the details do not clarify the specific political leanings of its contributions, the corporate use of a PAC is indicative of direct engagement in shaping public policy and political outcomes.
-20
Political Contributions and Lobbying Efforts
March 28
The presence of a Political Action Committee shows that Discover Financial Services is channeling resources into political contributions, a form of corporate political influence that can undermine democratic processes. From an anti-fascist perspective, such involvement is concerning even though the specific targets and outcomes of the contributions are not detailed, as it raises questions about the potential reinforcement of power imbalances.
DISCOVER FINANCIAL SERVICES POLITICAL ACTION COMMITTEE - committee overview
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Industries
- 522210
- Credit Card Issuing
- 522320
- Financial Transactions Processing, Reserve, and Clearinghouse Activities
- 522390
- Other Activities Related to Credit Intermediation
- 523930
- Investment Advice