06:33 AM EDT, 07/05/2024 (MT Newswires) -- Discover Financial Services ( DFS ) said late Wednesday in an 8-K filing it agreed to settle claims by merchants related to a card product misclassification.

Terms of the settlement were not disclosed, but the lender said it expects all payments under the settlement to be covered by the $1.2 billion it already set aside for liabilities.

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