In a statement from its parent company, Discover Financial Services chairman and chief executive David Nelms said the company had "worked hard to earn the loyalty of our cardmembers, and we are committed to marketing our products responsibly".

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Assets in a parent-controlled account get assessed 5% to 5.6% per year, but disbursements do not show up on the income statement of either the parent or the student.

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T-Mobile posted higher profits during the first quarter of the 2012 financial year than the previous year, according to a statement released by its parent company, Deutsche Telekom.

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