NEW YORK | AmEx 2Q profits rise, but there are worry spots on lending

18Jul - by Editor - 0 - In STL.News



NEW YORK — American Express says its second-quarter profit rose 21 percent from a year ago, as the credit card giant saw more customers spending on its namesake cards and a much lower tax rate.

But it had to set aside more money to cover potential bad loans, and saw its delinquency rate rise noticeably. It’s a potential sign that some of American Express’ customers — typically the most creditworthy in the industry — are struggling to pay their bills.

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