secwatch.observer — SEC 8-K summary
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Issuer:     Synchrony Financial (SYF)
CIK:        0001601712
Form:       8-K
Filed at:   2024-09-09T23:59:59+00:00
Accession:  0001601712-24-000308
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Synchrony August charge-off rate 5.6% (4.6% YoY); 30+ delinquency 4.6% (4.1% YoY)
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- Period-end loan receivables $102.5B at Aug 31, 2024, up from $97.3B a year earlier.
- 30+ day delinquency rate 4.6% vs 4.1% in Aug 2023, reflecting moderation in customer payment rates.
- Net charge-off rate 5.6% (annualized), up from 4.6% YoY; adjusted net charge-off rate 5.7%.
- Net charge-offs decreased from July 2024 primarily due to four fewer charge-off cycles.
- Company continues to furnish these statistics monthly; next update with Q3 earnings.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1601712/000160171224000308/0001601712-24-000308-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1601712/000160171224000308/syf-20240909.htm
  HTML page:      https://secwatch.observer/filing/0001601712-24-000308

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