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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