The August print is broadly in line with the recent credit trend. The 30+ delinquency rate stayed at 4.2%, matching July and improving from 4.3% a year earlier, while the adjusted net charge-off rate held at 4.9% versus 4.9% in July and 5.3% a year ago. The filing describes this as a monthly statistical update: 〔0〕
| Metric | Aug. 31, 2026 | Jul. 31, 2026 | Aug. 31, 2025 |
|---|---|---|---|
| Period-end loan receivables | $103.0B | $102.6B | $100.2B |
| 30+ delinquency rate | 4.2% | 4.2% | 4.3% |
| Net charge-off rate | 4.9% | 4.7% | 5.1% |
| Adjusted net charge-off rate | 4.9% | 4.9% | 5.3% |
Credit performance is better than last year, but August did not extend the improvement. Adjusted charge-offs remain well below the 5.8% readings recorded in February and March, yet they were flat month over month after the reported net charge-off rate ticked up from 4.7% to 4.9%. The company says the adjusted measure is intended to smooth recovery timing across the quarter: 〔1〕
Loan growth adds modest support, without changing the read on credit risk. Period-end receivables rose to $103.0 billion from $102.6 billion in July and $100.2 billion a year ago, roughly 3% above last August. Because this is a scheduled monthly disclosure with no guidance, earnings, or strategic change, the data mostly confirm an already visible stabilization rather than create a fresh positive or negative surprise.
Read the original 8-K on SEC EDGAR ↗