Discover Agrees to $1.2 Billion Settlement Over Card MisclassificationMay 5, 2026Law and PolicyDiscover Financial Services has agreed to pay more than $1.2 billion to settle claims it misclassified consumer credit cards as commercial cards, overcharging merchants on interchange fees.
Discover Financial Agrees to Pay $1.2 Billion in Merchant Interchange SettlementMay 4, 2026Law and PolicyDiscover Financial Services agreed to pay over $1.2 billion to settle a class action alleging it misclassified consumer cards as commercial cards, inflating merchant fees.