![]() ![]() to distinguish its network functions from the Discover Card. This company had a stock ticker symbol of DWD. On March 1, 1993, Sears sold off its financial services branch as a new independent publicly traded company called Dean Witter, Discover & Co. Its credit card operations accounted for a loss of $22 million in the fourth quarter of 1986, and a loss of $25.8 million in the first quarter of 1987. The plan to create a one-stop financial-services center in Sears stores was not as successful as Sears had hoped. Altogether, these companies operated as a Sears subsidiary called Dean Witter Financial Services Group, Inc. In 1985, Sears also acquired the Greenwood Trust Company. In 1981, Sears purchased the Dean Witter Reynolds brokerage firm organization and Coldwell, Banker & Company (real estate franchise) as an attempt to add financial services to its portfolio of customer services. Discover is currently headquartered in the Chicago suburb of Riverwoods, Illinois. Discover Card is the third largest credit card brand in the United States, when measured by cards in force, with nearly 50 million cardholders. ![]() It also owns and operates the Discover and Pulse networks, and owns Diners Club International. Discover Financial Services is an American financial services company that owns and operates Discover Bank, an online bank that offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. ![]()
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