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Discover CEO Says Delinquencies to Accelerate in Second Half

Discover CEO Says Delinquencies to Accelerate in Second Half

Discover Financial Services expects delinquencies to pick up through the second half of the year as white-collar job losses are likely to come amid coronavirus-related shutdowns, Chief Executive Officer Roger Hochschild said.

Credit metrics remain strong even following the end of extra jobless benefits tied to the pandemic, Hochschild said Tuesday at a conference. Discover stock erased gains in New York trading after his comments.

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