Risk Factors Update Summary
- Added potential risks related to data security breaches and cyberattacks, including liability and reputational harm.
- Increased financial losses due to inaccurate underwriting data, impacting repayment predictions and credit losses.
- Disclosed financial losses from fraud events, emphasizing the need for risk control mechanisms and potential operational disruptions.
- Enhanced regulatory oversight and compliance risks, potentially leading to product modifications or cessation.
- Added risks related to the use of AI, including technical challenges, competition, cybersecurity incidents, and regulatory changes.
- Identified material weaknesses in internal financial controls, impacting financial reporting accuracy and operations.
- Highlighted risks associated with pricing strategies affecting member appeal, gross profits, and operating results.
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=1841408&owner=exclude
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