Morgan Stanley Feud Complicates Discover's Payout

Law360, New York (October 29, 2008, 12:00 AM EDT) -- Discover Financial Services Inc. may reportedly use part of the $2.75 billion antitrust settlement from rivals Visa USA Inc. and MasterCard Inc. to finance acquisitions, although the exact amount it is set to receive is up in the air amid a fresh dispute with former parent Morgan Stanley.

Roger C. Hochschild, Discover's president and chief operating officer, told American Banker in an interview Tuesday that the settlement proceeds could be put toward growing the business through acquisitions at a time when some of the company's competitors...
To view the full article, register now.