Risk Factors Update Summary
- Added geopolitical tensions involving China and the U.S. as a risk factor.
- Added risks related to potential impacts of geopolitical tensions and conflicts on business operations.
- Proposed capital rule adoption could significantly increase regulatory capital requirements, impacting business operations.
- Added "Country Risks" to risk types. Model Risks increased from 25% to 28%.
- Added risks related to cyber security incidents and fraudulent activities.
- Potential need for additional capital due to increased SCB requirement based on supervisory stress test.
- Added "lingering" impacts of COVID-19. Business billed business decreased from 45% to 43%.
- Increased merchant discount rates from 31 to 35 billion.
- Restrictions on paying dividends and repurchasing stock may impact liquidity and strategic objectives.
- Increased cobrand portfolios' contribution from 18% to 21% of worldwide network volumes.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=4962&owner=exclude
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