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Discover Financial Services has reported financial results for its third quarter 2009. Discover reported that Discover Card sales volume declined 7% from the prior year to $23 billion but increased 6% from the prior quarter. Managed loans of $51 billion were relatively unchanged from the prior quarter. The third-quarter managed net charge-off rate rose to 8.39%, up 319 basis points and 60 basis points from the prior year and the prior quarter respectively.
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