secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN EXPRESS CO (AXP)
CIK:        0000004962
Form:       8-K
Filed at:   2025-06-16T23:59:59+00:00
Accession:  0000004962-25-000068
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

American Express reports May 2025 credit metrics; reclassifies $1.6B Amazon cobrand loans to held for sale
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- Total U.S. Consumer & Small Business loans held for investment $124.0B at May 31, up from $122.3B in April.
- U.S. Consumer net write-off rate (principal) 2.1% in May vs 2.0% in April; 30+ days past due 1.3% (down from 1.4%).
- U.S. Small Business net write-off rate 2.4% (unchanged); 30+ days past due 1.5% (down from 1.6%).
- Reclassified ~$1.6B in Amazon small business cobrand loans to held for sale effective June 1, 2025.
- Lending Trust annualized default rate 1.3% in May (flat vs April, down from 1.5% in March).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/4962/000000496225000068/0000004962-25-000068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/4962/000000496225000068/axp-20250616.htm
  HTML page:      https://secwatch.observer/filing/0000004962-25-000068

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