Bread Financial 'feverishly' preps for CFPB late-fee rule scenarios [Yahoo! Finance]
Synchrony Financial (SYF)
Last synchrony financial earnings: 4/21 06:30 am
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Source: Yahoo! Finance
partners, including its own costly technical glitch and now a rule sharply cutting late fees that's affecting rival lenders including Synchrony Financial But there may be one bright spot on the horizon for the company — the Consumer Financial Protection Bureau's final rule capping fees, slated to take effect next month , won't sting quite as badly as Bread first feared. The CFPB's rule would mandate a cut in credit card late fees to $8 for all issuers, from an average of about $40. Bread told analysts Thursday that after deeper analysis of the final rule, plus a recent flurry of discussions with its retail credit card partners about mitigation strategies, the firm will see a 20% loss of revenue during the fourth quarter of this year, versus a 25% hit, which it forecast last year But even with this improvement, other factors still weighed on Bread's earnings. It reported significant declines in first-quarter net income and revenue due to slower consumer spending and rising charge
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News
- Synchrony Extends Partnership with Affordable Care Offering CareCredit to PatientsPR Newswire
- Synchrony Financial (NYSE: SYF) was upgraded by analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating. They now have a $62.00 price target on the stock, up previously from $45.00.MarketBeat
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- Synchrony and ServiceTitan Join Forces to Streamline Home Improvement FinancingPR Newswire
SYF
Earnings
- 4/24/24 - Beat
SYF
Sec Filings
- 5/2/24 - Form 144
- 4/25/24 - Form 10-Q
- 4/25/24 - Form ARS
- SYF's page on the SEC website