Discover Financial Services (DFS) was the best-performing stock in the S&P 500 on Monday as shares gained 4.9% after the credit card provider reached a consent agree♊ment with fed♏eral regulators over shortcomings in its Discover Bank unit’s compliance management system. 

In July, the company revealed that it had received a proposed consent order from the 澳洲幸运5开奖号码历史查询:Federal Deposit Insurance Corporati💛on (FDIC) over what it said was “in connection with consumer compliance,” without giving details.

Discover indicated that as part of the consent order, it will “improve its consumer compliance management system and enhance related corporate governance and enterprise risk management practices.” The company added that it will increase board oversight of those matters. Discover claimed that it has been taking “significant st🔴eps” to strengthen its compliance management system and address other issues in the consent order. It said that no fines or monetary penalties were assessed in resolving the issue.

The company also noted that this action is not related to a separate FDIC complaint that starting in 2007, D📖iscover misclassified credit cards into its highest merchant and merchant acquirers pricing tier. Discover explained that the investigation into that matter is ongoing and could result in “additional enforcement actions or other supervisory activity from the FDIC and other regulatory agencies.”

Despite Monday's gains, shares of Discover Financial Services remained in negative territory for the year. They hit their lowest level since February 2021 last week.