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Discover Financial CEO Roger Hochschild steps down

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Digital banking firm Discover Financial Services said on Monday Roger Hochschild would step down as chief executive officer and a member of the board.

said on Monday Roger Hochschild would step down as chief executive officer and a member of the board.

The company, whose shares fell 5.5% in extended trading, also named board member John Owen as interim CEO and president, effective immediately.after it disclosed a regulatory review over some incorrectly classified credit card accounts from around mid-2007. The company decided to pause share repurchases as well citing a pending internal review of compliance, risk management and corporate governance.

 

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