secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN EXPRESS CO (AXP)
CIK:        0000004962
Form:       8-K
Filed at:   2024-08-15T23:59:59+00:00
Accession:  0000004962-24-000059
Event type: other_material
Sentiment:  positive
Materiality: 0.50
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

AmEx July credit stats: net write-off rate falls to 2.1% for Consumer, 2.3% for Small Business
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- Total card member loans $115.1B as of July 31, up from $113.6B in June and $112.2B in May.
- U.S. Consumer net write-off rate (principal only) improved to 2.1% in July from 2.3% in June and 2.4% in May.
- U.S. Small Business net write-off rate improved to 2.3% in July from 2.4% in June and 2.5% in May.
- 30+ days past due loans stable at 1.3% (Consumer) and 1.4% (Small Business) for all three months.
- Lending Trust annualized default rate declined to 1.2% in July from 1.5% in June.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/4962/000000496224000059/0000004962-24-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/4962/000000496224000059/axp-20240815.htm
  HTML page:      https://secwatch.observer/filing/0000004962-24-000059

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