8-KItem 7.01 · Reg FD Disclosure
American Express Reports Stable Consumer Delinquencies and Mixed August Charge-Off Rates
Filed with the SEC on · Summarized by InvestorsBot
American Express reported August 31 U.S. Consumer and Small Business Card balances held for investment of $114.2 billion and $46.1 billion, respectively, up from July, while 30-day delinquency rates were unchanged at 1.1% and 1.3%. August principal-only net write-off rates were 1.7% for Consumer cards, unchanged from July, and 2.2% for Small Business cards, down from 2.6%; the company’s securitized Lending Trust had a 1.0% annualized default rate and $25.0 billion of ending principal balances.