Our Business Practices

We adhere to the highest standards of corporate governance and ethical conduct. We believe that accountability, transparency and good decision-making support our business, serve our customers and create value for our shareholders.

Political Disclosures

Corporate Political Activity

Discover believes that engagement with policymakers on issues that could impact its business is important to the long-term interests of the Company. The Government Relations team carries out our public policy strategies and outreach activities under the direction of the VP of Government Relations.

Discover engages on a variety of public policy issues affecting the financial services industry, including but not limited to the payments systems, consumer protection, prudential regulation, data privacy and tax. All contributions promote the interests of the Company and are made without regard for the private political preferences of executives.

The Company maintains the highest ethical standards and transparency when engaging with public officials and abides by all appropriate reporting and disclosure requirements. All contributions are made in compliance with company policy. On an annual basis Discover will provide a report on all political contributions made through corporate funds.

LOBBYING

Lobbying enables Discover to advocate for a broad range of public policy issues that are important to the Company. Discover files all state and federal lobbying disclosure reports in a complete and timely manner in accordance with applicable requirements. The Company regularly files reports with the Secretary of the U.S. Senate and the Clerk of the U.S. House of Representatives detailing its lobbying activities. The reports are available on the U.S. House website.

PAC Contributions

Discover engages in the political process primarily through the Discover Financial Services Political Action Committee (PAC). It is funded solely through voluntary contributions made by eligible employees. The PAC is non-partisan and contributes to candidates based on factors promoting the interests of the Company, including: committee assignment, leadership position, representation of a district where Discover has a presence, and alignment with Discover’s business objectives.

The PAC is governed by its by-laws and is overseen by officers representing various business units throughout the Company.

All PAC receipts and disbursements are reported regularly to the Federal Election Commission and can be viewed by the public at www.fec.gov. PAC disbursements from the past five years can also be viewed at the links provided.

Corporate Contributions

Discover has a policy that prohibits its employees from causing the Company to make a political contribution from its funds or resources without the approval of Government Relations. Discover does not contribute corporate funds to federal, state, or local candidates, Super PACs, independent expenditures, or other communications to the public related to the support or opposition of candidates, ballot measures, or any other election-related matters. The Company may make contributions to single issue political entities organized under Section 527 of the Internal Revenue Code. View the current list of contributions to 527 organizations. (PDF opens in new window.)

Trade Associations

As part of Discover’s public policy strategy, it is a dues-paying member of various industry and trade associations. Discover does not direct the manner in which its dues are expended, nor does it contribute to the PAC of any trade association. All membership dues that contain ‘non-deductible’ expenses for lobbying are reported on the Company’s Lobbying Disclosure Reports. Discover’s memberships include but are not limited to:

  • American Bankers Association
  • American Financial Services Association
  • Bank Policy Institute
  • Consumer Bankers Association
  • Electronic Transaction Association