Discover Financial Services, facing the need for additional funding while revenues are declining and credit card charge offs are growing, received only a lukewarm response from the equity market as a public offering last week of its common shares had to be priced at a 12 percent discount to the market.
Right now there is a great deal of risk aversion when it comes to credit cards, said Dan North, chief economist at Euler Hermes ACI, a trade cre...
