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 and its employees and shareholders. The Company maintains the highest ethical standards and transparency when engaging with public officials and abides by all appropriate reporting and disclosure requirements.
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.
Decisions regarding PAC contributions are made by the Discover Government Relations team and are not based on any employee’s private political preferences. 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 semiannually 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.
- 2018 Discover PAC Fund Recipients (PDF opens in a new window.)
- 2019 Discover PAC Fund Recipients (PDF opens in a new window.)
- 2020 Discover PAC Fund Recipients (PDF opens in a new window.)
- 2021 Discover PAC Fund Recipients (PDF opens in a new window.)
- 2022 Discover PAC Fund Recipients (PDF opens in a new window.)
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 currently contribute to state or local candidates, 501(c)4s, or SuperPACs; make Independent Expenditures; or make payments to influence the outcome of ballot measures. Discover may contribute to entities organized under Section 527 of the Internal Revenue Code527. View the current list of contributions to 527 organizations (PDF). 2023 Discover Contributions To 527 Organizations (PDF opens in new window.)
Compliance and Oversight
All public policy strategies, political engagements and outreach activities are overseen by the Discover Government Relations team, with the support of the Company’s Executive Committee. Discover files all state and federal campaign finance and lobbying disclosure reports in a complete and timely manner in accordance with applicable requirements. Federal Disclosure Reports are available to the public at https://lobbyingdisclosure.house.gov/. Discover also files in Illinois, California, Chicago and Massachusetts; filings can be viewed at the links provided:
- https://www.ilsos
.gov/ departments/ index/ lobbyist/ - https://cal-access.sos.ca
.gov/ lobbying/ employers/ - https://www.sec.state.ma.us/LobbyistPublicSearch/Default.aspx
- https://webapps1.chicago.gov/elf/public_search.html
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