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Loans (Tables)
 3 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
Loan Portfolio Composition and Aging Analysis The table below presents the composition and aging analysis of our loans held for investment portfolio as of March 31, 2024 and December 31, 2023. The delinquency aging includes all past due loans, both performing and nonperforming.
Table 4.1: Loan Portfolio Composition and Aging Analysis
 March 31, 2024
Delinquent Loans
(Dollars in millions)Current30-59
Days		60-89
Days
> 90
Days
Total
Delinquent
Loans		Total
Loans
Credit Card:
Domestic credit card$137,416$1,735$1,371$3,339$6,445$143,861
International card businesses6,401113751443326,733
Total credit card143,8171,8481,4463,4836,777150,594
Consumer Banking:
Auto69,4312,7691,2443574,37073,801
Retail banking1,26911315291,298
Total consumer banking70,7002,7801,2473724,39975,099
Commercial Banking:
Commercial and multifamily real estate34,05009412822234,272
Commercial and industrial55,01932913817055,189
Total commercial banking89,069312326639289,461
Total loans(1)
$303,586$4,631$2,816$4,121$11,568$315,154
% of Total loans96.33%1.47%0.89%1.31%3.67%100.00%
    
December 31, 2023
Delinquent Loans
(Dollars in millions)Current30-59
Days		60-89
Days
> 90
Days
Total
Delinquent
Loans		Total
Loans
Credit Card:
Domestic credit card$140,860$1,968$1,471$3,367 $6,806 $147,666 
International card businesses6,55211676137 329 6,881 
Total credit card147,4122,0841,5473,504 7,135 154,547 
Consumer Banking:
Auto68,7683,2681,555484 5,307 74,075 
Retail banking1,32915315 33 1,362 
Total consumer banking70,0973,2831,558499 5,340 75,437 
December 31, 2023
Delinquent Loans
(Dollars in millions)Current30-59
Days		60-89
Days
> 90
Days
Total
Delinquent
Loans		Total
Loans
Commercial Banking:
Commercial and multifamily real estate34,32501410712134,446
Commercial and industrial55,8610018118156,042
Total commercial banking90,18601428830290,488
Total loans(1)
$307,695$5,367$3,119$4,291$12,777$320,472
% of Total loans96.01%1.68%0.97%1.34%3.99%100.00%
__________
(1)Loans include unamortized premiums, discounts, and deferred fees and costs totaling $1.3 billion and $1.4 billion as of March 31, 2024 and December 31, 2023, respectively.
90 Plus Day Delinquent Loans Accruing Interest and Nonperforming Loans
The following table presents our loans held for investment that are 90 days or more past due that continue to accrue interest, loans that are classified as nonperforming and loans that are classified as nonperforming without an allowance as of March 31, 2024 and December 31, 2023. Nonperforming loans generally include loans that have been placed on nonaccrual status.
Table 4.2: 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans
March 31, 2024December 31, 2023
(Dollars in millions)
> 90 Days and Accruing
Nonperforming
Loans(1)
Nonperforming
 Loans Without an Allowance
> 90 Days and Accruing
Nonperforming
Loans(1)
Nonperforming
 Loans Without an Allowance
Credit Card:
Domestic credit card$3,339 N/A$0 $3,367 N/A$0 
International card businesses140 $9 0 132 $9 0 
Total credit card3,479 9 0 3,499 9 0 
Consumer Banking:
Auto0 585 0 0 712 0 
Retail banking0 41 21 0 46 19 
Total consumer banking0 626 21 0 758 19 
Commercial Banking:
Commercial and multifamily real estate5 541 369 0 425 335 
Commercial and industrial18 607 347 55 336 193 
Total commercial banking23 1,148 716 55 761 528 
Total$3,502 $1,783 $737 $3,554 $1,528 $547 
% of Total loans held for investment1.11 %0.57 %0.23 %1.11 %0.48 %0.17 %
__________
(1)We recognized interest income for loans classified as nonperforming of $5 million and $2 million for the three months ended March 31, 2024 and 2023, respectively
Credit Quality Indicator
The table below presents our credit card portfolio by delinquency status as of March 31, 2024 and December 31, 2023.
Table 4.3: Credit Card Delinquency Status
March 31, 2024December 31, 2023
(Dollars in millions)Revolving LoansRevolving Loans Converted to TermTotalRevolving LoansRevolving Loans Converted to TermTotal
Credit Card:
Domestic credit card:
Current
$137,043 $373 $137,416 $140,521 $339 $140,860 
30-59 days
1,709 26 1,735 1,940 28 1,968 
60-89 days
1,352 19 1,371 1,454 17 1,471 
Greater than 90 days
3,313 26 3,339 3,339 28 3,367 
Total domestic credit card143,417 444 143,861 147,254 412 147,666 
International card businesses:
Current
6,368 33 6,401 6,521 31 6,552 
30-59 days
108 5 113 112 4 116 
60-89 days
71 4 75 72 4 76 
Greater than 90 days
139 5 144 132 5 137 
Total international card businesses6,686 47 6,733 6,837 44 6,881 
Total credit card$150,103 $491 $150,594 $154,091 $456 $154,547 
The table below presents our consumer banking portfolio of loans held for investment by credit quality indicator as of March 31, 2024 and December 31, 2023. We present our auto loan portfolio by Fair Isaac Corporation (“FICO”) scores at origination and our retail banking loan portfolio by delinquency status, which includes all past due loans, both performing and nonperforming.
Table 4.4: Consumer Banking Portfolio by Vintage Year
March 31, 2024
Term Loans by Vintage Year
(Dollars in millions)20242023202220212020PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
Auto—At origination FICO scores:(1)
Greater than 660$4,180 $11,141 $11,433 $8,457 $2,654 $1,132 $38,997 $0 $0 $38,997 
621-6601,367 4,526 4,030 2,974 1,148 600 14,645 0 0 14,645 
620 or below1,865 6,228 5,036 3,807 2,024 1,199 20,159 0 0 20,159 
Total auto7,412 21,895 20,499 15,238 5,826 2,931 73,801 0 0 73,801 
Retail banking—Delinquency status:
Current69 77 92 56 62 554 910 355 4 1,269 
30-59 days0 0 0 1 0 2 3 8 0 11 
60-89 days0 0 0 0 0 1 1 2 0 3 
Greater than 90 days0 0 0 0 1 7 8 5 2 15 
Total retail banking69 77 92 57 63 564 922 370 6 1,298 
Total consumer banking$7,481 $21,972 $20,591 $15,295 $5,889 $3,495 $74,723 $370 $6 $75,099 
December 31, 2023
Term Loans by Vintage Year
(Dollars in millions)20232022202120202019PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
Auto—At origination FICO scores:(1)
Greater than 660$12,219 $12,593 $9,505 $3,124 $1,213 $309 $38,963 $0 $0 $38,963 
621-6604,863 4,432 3,346 1,337 592 192 14,762 0 0 14,762 
620 or below6,647 5,539 4,283 2,349 1,131 401 20,350 0 0 20,350 
Total auto23,729 22,564 17,134 6,810 2,936 902 74,075 0 0 74,075 
Retail banking—Delinquency status:
Current98 157 57 65 117 468 962 363 4 1,329 
30-59 days1 0 1 1 0 1 4 11 0 15 
60-89 days0 0 0 0 0 1 1 2 0 3 
Greater than 90 days0 0 0 0 0 8 8 6 1 15 
Total retail banking99 157 58 66 117 478 975 382 5 1,362 
Total consumer banking$23,828 $22,721 $17,192 $6,876 $3,053 $1,380 $75,050 $382 $5 $75,437 
__________
(1)Amounts represent period-end loans held for investment in each credit score category. Auto credit scores generally represent average FICO scores obtained from three credit bureaus at the time of application and are not refreshed thereafter. Balances for which no credit score is available or the credit score is invalid are included in the 620 or below category.
The following table presents our commercial banking portfolio of loans held for investment by internal risk ratings as of March 31, 2024 and December 31, 2023. The internal risk rating status includes all past due loans, both performing and nonperforming.
Table 4.5: Commercial Banking Portfolio by Internal Risk Ratings
March 31, 2024
Term Loans by Vintage Year
(Dollars in millions)20242023202220212020PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized$646 $2,794 $4,392 $2,573 $994 $5,280 $16,679 $13,046 $25 $29,750 
Criticized performing53 59 1,501 685 220 1,331 3,849 130 2 3,981 
Criticized nonperforming12 60 45 118 0 299 534 7 0 541 
Total commercial and multifamily real estate711 2,913 5,938 3,376 1,214 6,910 21,062 13,183 27 34,272 
Commercial and industrial
Noncriticized1,037 6,784 11,627 6,701 3,341 7,339 36,829 14,096 129 51,054 
Criticized performing42 328 638 672 126 437 2,243 1,284 1 3,528 
Criticized nonperforming0 12 96 41 178 221 548 59 0 607 
Total commercial and industrial1,079 7,124 12,361 7,414 3,645 7,997 39,620 15,439 130 55,189 
Total commercial banking$1,790 $10,037 $18,299 $10,790 $4,859 $14,907 $60,682 $28,622 $157 $89,461 
December 31, 2023
Term Loans by Vintage Year
(Dollars in millions)20232022202120202019PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized$3,068 $4,665 $2,773 $1,019 $2,104 $3,670 $17,299 $12,565 $25 $29,889 
Criticized performing148 1,494 706 284 463 904 3,999 133 0 4,132 
Criticized nonperforming65 26 124 0 47 163 425 0 0 425 
Total commercial and multifamily real estate3,281 6,185 3,603 1,303 2,614 4,737 21,723 12,698 25 34,446 
Commercial and industrial
Noncriticized6,909 11,935 6,994 3,566 2,359 5,117 36,880 14,822 167 51,869 
Criticized performing353 706 655 237 348 349 2,648 1,189 0 3,837 
Criticized nonperforming13 53 30 18 123 68 305 31 0 336 
Total commercial and industrial7,275 12,694 7,679 3,821 2,830 5,534 39,833 16,042 167 56,042 
Total commercial banking$10,556 $18,879 $11,282 $5,124 $5,444 $10,271 $61,556 $28,740 $192 $90,488 
__________
(1)Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.
The table below presents gross charge-offs for loans held for investment by vintage year during the three months ended March 31, 2024.
Table 5.2: Gross Charge-Offs by Vintage Year
Three Months Ended March 31, 2024
Term Loans by Vintage Year
(Dollars in millions)20242023202220212020PriorTotal Term LoansRevolving LoansRevolving Loans Converted to TermTotal
Credit Card
Domestic credit cardN/AN/AN/AN/AN/AN/AN/A$2,422 $30 $2,452 
International card businessN/AN/AN/AN/AN/AN/AN/A119 3 122 
Total credit cardN/AN/AN/AN/AN/AN/AN/A2,541 33 2,574 
Consumer Banking
Auto$4 $138 $218 $163 $68 $51 $642 0 0 642 
Retail banking0 0 0 0 0 0 0 18 0 18 
Total consumer banking4 138 218 163 68 51 642 18 0 660 
Commercial Banking
Commercial and multifamily real estate0 0 0 0 0 27 27 0 0 27 
Commercial and industrial0 0 0 4 8 0 12 0 0 12 
Total commercial banking0 0 0 4 8 27 39 0 0 39 
Total$4 $138 $218 $167 $76 $78 $681 $2,559 $33 $3,273 
FDM Disclosures
The following tables present the major modification types, amortized cost amounts for each modification type and financial effects for all FDMs undertaken during the three months ended March 31, 2024 and 2023.
Table 4.6: Financial Difficulty Modifications to Borrowers
Three Months Ended March 31, 2024
Credit CardConsumer BankingCommercial Banking
(Dollars in millions)Domestic CardInternational Card BusinessesTotal Credit CardAutoRetail BankingTotal Consumer BankingCommercial and Multifamily Real EstateCommercial and IndustrialTotal Commercial BankingTotal
Interest rate reduction$216 $54 $270 — — — — — — $270 
Term extension— — — $6 $2 $8 $316 $135 $451 459 
Principal balance reduction— — — 9 — 9 — — — 9 
Interest rate reduction and term extension5 — 5 274 — 274 28 — 28 307 
Other(1)
— — — 1 — 1 91 46 137 138 
Total loans modified$221 $54 $275 $290 $2 $292 $435 $181 $616 $1,183 
% of total class of receivables0.15 %0.80 %0.18 %0.39 %0.14 %0.39 %1.27 %0.33 %0.69 %0.38 %
Three Months Ended March 31, 2023
Credit CardConsumer BankingCommercial Banking
(Dollars in millions)Domestic CardInternational Card BusinessesTotal Credit CardAutoRetail BankingTotal Consumer BankingCommercial and Multifamily Real EstateCommercial and IndustrialTotal Commercial BankingTotal
Interest rate reduction$150 $38 $188 — — — — — — $188 
Term extension— — — $42 $3 $45 $129 $66 $195 240 
Principal balance reduction— — — 7 — 7 — — — 7 
Principal balance reduction and term extension— — — — — — — 17 17 17 
Interest rate reduction and term extension— — — 202 — 202 — — — 202 
Other(1)
— — — 1 — 1 — 132 132 133 
Total loans modified$150 $38 $188 $252 $3 $255 $129 $215 $344 $787 
% of total class of receivables0.11 %0.62 %0.14 %0.33 %0.18 %0.33 %0.35 %0.38 %0.37 %0.25 %
__________
(1)Primarily consists of modifications or combinations of modifications not categorized above, such as increases in committed exposure, forbearances and other types of modifications in Commercial Banking.
Table 4.7: Financial Effects of Financial Difficulty Modifications to Borrowers
Three Months Ended March 31, 2024
Credit CardConsumer BankingCommercial Banking
Domestic CardInternational Card BusinessesAutoRetail BankingCommercial and Multifamily Real EstateCommercial and Industrial
Weighted-average interest rate reduction19.99%26.12%8.65%—%0.79%—%
Payment delay duration (in months)12—610612
Principal balance reduction—————$15
Three Months Ended March 31, 2023
Credit CardConsumer BankingCommercial Banking
Domestic CardInternational Card BusinessesAutoRetail BankingCommercial and Multifamily Real EstateCommercial and Industrial
Weighted-average interest rate reduction19.02%25.74%8.75%—%—%—%
Payment delay duration (in months)——61487
Principal balance reduction—————$3
For the interim reporting period ended March 31, 2024, the delinquency status as of this date is shown in the table below for FDMs entered into over the preceding 12 month period. For the interim reporting period ended March 31, 2023, the delinquency status as of this date is shown in the table below for FDMs entered into during the first three months of 2023.
Table 4.8 Delinquency Status of Loan Modifications to Borrowers Experiencing Financial Difficulty(1)
March 31, 2024
Delinquent Loans
(Dollars in millions)Current30-59 Days60-89 Days
> 90 Days
Total Delinquent LoansTotal Loans
Credit Card:
Domestic credit card$407 $67 $56 $116 $239 $646 
International card businesses53 10 10 33 53 106 
Total credit card460 77 66 149 292 752 
Consumer Banking:
Auto626 93 54 19 166 792 
Retail banking9 0 1 0 1 10 
Total consumer banking635 93 55 19 167 802 
Commercial Banking:
Commercial and multifamily real estate556 0 0 22 22 578 
Commercial and industrial842 0 27 31 58 900 
Total commercial banking1,398 0 27 53 80 1,478 
Total$2,493 $170 $148 $221 $539 $3,032 
March 31, 2023
Delinquent Loans
(Dollars in millions)Current30-59 Days60-89 Days
> 90 Days
Total Delinquent LoansTotal Loans
Credit Card:
Domestic credit card$62 $36 $23 $29 $88 $150 
International card businesses11 5 4 18 27 38 
Total credit card73 41 27 47 115 188 
Consumer Banking:
Auto224 18 7 3 28 252 
Retail banking2 0 0 1 1 3 
Total consumer banking226 18 7 4 29 255 
Commercial Banking:
Commercial and multifamily real estate99 30 0 0 30 129 
Commercial and industrial129 0 0 86 86 215 
Total commercial banking228 30 0 86 116 344 
Total$527 $89 $34 $137 $260 $787 
__________
(1)Commitments to lend additional funds on FDMs totaled $190 million and $26 million as of March 31, 2024 and 2023, respectively.
Schedule of Debtor Troubled Debt Restructuring, Subsequent Periods
The following table presents FDMs that entered subsequent default for the three months ended March 31, 2024. FDMs that entered default subsequent to their modification were insignificant during the three months ended March 31, 2023.
Table 4.9 Subsequent Defaults of Financial Difficulty Modifications to Borrowers
Three Months Ended March 31, 2024
(Dollars in millions)Interest Rate ReductionTerm ExtensionInterest Rate Reduction and Term ExtensionTotal Loans
Credit Card:
Domestic credit card$74 $0 $1 $75 
International card businesses17 0 0 17 
Total credit card91 0 1 92 
Consumer Banking:
Auto0 3 103 106 
Total consumer banking0 3 103 106 
Commercial Banking:
Commercial and multifamily real estate0 0 0 0 
Commercial and industrial0 67 0 67 
Total commercial banking0 67 0 67 
Total$91 $70 $104 $265