Discover Financial Services (NYSE:DFS)'s impressive lending growth is fueling excellent capital allocation. The company grew loans by 7% while increasing its net interest margin to 9.39% as it launches new credit card lines, issues private student loans, and enters the personal loan business. Charge offs remain low at 2.3%. Discover's interchange business also showed impressive year over year growth of more than 9% compared to the year-ago period. At less than ten times forward earnings estimates and as one of the best capital allocators in banking, Discover Financial Services (NYSE:DFS) is a value play of all value plays. The Chubb Corporation (NYSE: CB ) While American International Group Inc (NYSE:AIG) earns a reputation for risky insurance dealings, The Chubb Corporation (NYSE:CB) is known as one of the highest-quality underwriters in the world.