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Discover Cites Settlement In Posting Big Jump In Q3 Profit

Buoyed by a hefty lawsuit-settlement payment and a sharp decline in expenses, Discover Financial Services today reported net income of $577.5 million for its fiscal third quarter ended Aug. 31, up 221% from $180.1 million during the same quarter last year.

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This issue contains the biggest-ever edition of the annual Fact Book. We hope you find it useful. We also check in with Steve Eazell, outgoing president of the Western States Acquirers Association, and Dan Geraty, CEO of Clearent. We even attempt to satisfy our curiousity about when mobile payments will take hold with consumers and why the U.S. seems to resist chip-and-pin.
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