Description
Discover Financial, which operates the Discover Card, was approved by the Fed to become a bank holding company in Dec. 2008 in order to qualify for TARP funds.
Eye on the Bailout
Discover Financial Services
Riverwoods, Ill.
| Committed: | $1,224,558,000 | ||||
| Disbursed: | $1,224,558,000 | Returned: | $0 | Revenue to Gov't: | $41,158,754 |
| Net Outstanding: | $1,183,399,246 | ||||
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| 0.2% | of all bailout funds committed. |
| 7% | of the Financial Services Company industry bailout. |
Map: Corporate headquarters of Discover Financial Services.
See all recipients in Illinois
Events
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$1.2B
Mar. 13, 2009 Purchase - Preferred Stock w/ Warrants
Part of the Capital Purchase Program
More info from online.wsj.com
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$10.5M
May 31, 2009 Dividends Paid Through 5/31/2009
This amount reflects the sum of dividends paid up to 5/31/2009
Part of the Capital Purchase Program
-
$15.3M
Aug. 17, 2009 Dividends Paid in Aug. 2009
Part of the Capital Purchase Program
-
$15.3M
Nov. 16, 2009 Dividends payment
Part of the Capital Purchase Program
| Date | Type | Amount | Program | Description |
|---|---|---|---|---|
| 11/16/2009 | Dividend | $15,306,975 | CPP | Dividends payment |
| 08/17/2009 | Dividend | $15,306,975 | CPP | Dividends Paid in Aug. 2009 |
| 05/31/2009 | Dividend | $10,544,804 | CPP | Dividends Paid Through 5/31/2009 |
| 03/13/2009 | Purchase | $1,224,558,000 | CPP | Purchase - Preferred Stock w/ Warrants |
For our blog, resources and more, see our main bailout page.
TARP Watchdog Launches Audit of Bailout Contracts 2/9
Chase Denied Loan Mods for Now Forbidden Reason—Homeowners in Limbo 2/4
Homeowners Say Banks Not Following Rules for Loan Modifications 1/14
Loan Mod Program Delays Even Worse for Those Struggling Not to Fall Behind 12/21
Bailout Breakdown: Losses Likely to Be Larger Than Treasury Estimates 12/11
Interactive Chart Shows Breakdown of Slow-Moving Loan Mod Program 12/11
Homeowners Getting Blame for Lack of Loan Mods, but Evidence Points to Banks and Servicers, Too 12/9
Bailout Balance Sheet December 2009: Taxpayers’ Revenues Grow, but So Do Losses 12/3
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