secwatch.observer — SEC 8-K summary
======================================

Issuer:     Synchrony Financial (SYF)
CIK:        0001601712
Form:       8-K
Filed at:   2024-06-10T23:59:59+00:00
Accession:  0001601712-24-000216
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Synchrony Financial May 2024 credit stats: delinquency/charge-off rates rise YoY
--------------------------------------------------------------------------------

- Period-end loan receivables $102.4B as of May 31, 2024.
- 30+ day delinquency rate 4.5%, up from 3.8% a year earlier.
- Net charge-off rate 6.5% (annualized), versus 5.0% in May 2023.
- Adjusted net charge-off rate (non-GAAP) 6.4%, compared with 4.9% YoY.
- Increases attributed to continued moderation in customer payment rates.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1601712/000160171224000216/0001601712-24-000216-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1601712/000160171224000216/syf-20240610.htm
  HTML page:      https://secwatch.observer/filing/0001601712-24-000216

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