secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN EXPRESS CO (AXP)
CIK:        0000004962
Form:       8-K
Filed at:   2025-01-15T23:59:59+00:00
Accession:  0000004962-25-000002
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

AmEx reports Q4 2024 credit stats: Consumer write-off rate 2.1%, Small Business 2.3%; reclassifies $758M Lowe's loans
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- Total U.S. Consumer and Small Business loans $122.2B at Dec 31, up from $120B in Nov.
- U.S. Consumer net write-off rate (principal only) Q4 2024: 2.1%; Nov 2.0%, Oct 2.4%.
- U.S. Small Business net write-off rate (principal only) Q4 2024: 2.3%; Nov 2.3%, Oct 2.2%.
- Reclassified $758M of Lowe's small business cobrand loans to held for sale effective Dec 1, 2024.
- 30+ days past due steady at 1.4% (Consumer) and 1.5% (Small Business) across all months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/4962/000000496225000002/0000004962-25-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/4962/000000496225000002/axp-20250115.htm
  HTML page:      https://secwatch.observer/filing/0000004962-25-000002

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer