Risk Factors Update Summary
- Cost of funds increased due to customer migration, impacting net interest margin.
- Changes in benchmark rates could adversely affect interest rates on assets and liabilities.
- Net charge-offs increased to 2.20% from 1.49% for credit card balances in 2023.
- Recent bank closures caused uncertainty impacting liquidity and financial services industry.
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=90498&owner=exclude
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