– Discover To Begin Tracking Purchases At Gun Retailers Starting In April:
One month ago, credit-card provider Discover Financial Services, issuer of the eponymous credit card, stunned markets when it unveiled in its latest forecast that it expects its 2023 charge off rate to more than double from the 2022 average, hitting a multi-year high and hinting that the US consumer was about to hit a brick wall
Last week, Discover decided to cement that not only would its charge off rate soar but it was about to lose millions of customers after it told Reuters that it would effectively oversee (i.e., spy on) its clients by allowing its network to track purchases at gun retailers come April, making it the first among its peers to publicly give a date for moving ahead with the initiative, which is aimed at helping authorities probe gun-related crimes.
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