The summary below was generated by an AI language model and may contain errors or omissions. All other content on this page is deterministically extracted from the original SEC EDGAR filing.
American Express modified 13 of its 33 disclosed risk factors between the 2024 and 2025 10-K filings, with no risks added or removed. The most substantive changes involved enhanced disclosures on merchant contract litigation risks, particularly regarding non-discrimination and honor-all-cards provisions, and updates to information systems operational risks.
Classification is based on semantic text similarity scoring and may include approximations. “No match” means no high-confidence textual match was found — not necessarily that a section was removed.
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Legal proceedings regarding provisions in our merchant contracts, including non-discrimination and honor-all-cards provisions, could have a material adverse effect on our business and result in additional litigation and/or arbitrations, changes to our merchant agreements and/or business practices, substantial monetary damages and damage to our reputation and brand.
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The uninterrupted operation of our information systems is critical to our success and a significant disruption could have a material adverse effect on our business and results of operations.
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Arrangements with our business partners represent a significant portion of our business. We are exposed to risks associated with our business partners, including reputational issues, business slowdowns, bankruptcies, liquidations, restructurings, consolidations and outages, and the possible obligation to make payments to our partners.
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If we are not able to successfully invest in, and compete with respect to, technological developments and new products and services across all our businesses, our revenue and profitability could be materially adversely affected.
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Surcharging, steering or other differential acceptance practices by merchants could materially adversely affect our business and results of operations.
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Our brand and reputation are key assets of our Company, and our business may be materially affected by how we are perceived in the marketplace.
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Tax legislative initiatives or assessments could adversely affect our results of operations and financial condition.
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Our success is dependent on maintaining a culture of integrity and respect and upon our executive officers and other key personnel, and misconduct by or loss of personnel could materially adversely affect our business.
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Our business is subject to evolving and comprehensive government regulation and supervision, which could materially adversely affect our results of operations and financial condition.
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Adverse currency fluctuations and foreign exchange controls could decrease earnings we receive from our international operations.
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Our business is subject to the effects of geopolitical conditions, weather, natural disasters and other catastrophic events.
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Our operations, business, customers and partners could be adversely affected by climate-related risks.
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Our use of models to manage risk and make business decisions may not be effective.
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