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Bread Financial Holdings (NYSE: BFH) has announced its participation in the TD Cowen Financial Services & Fintech Summit on June 7, 2024. Perry Beberman, the company's EVP and CFO, will take part in a fireside chat at 9:10 a.m. ET, which will be broadcast live. The webcast can be accessed through Bread Financial's investor relations website, and a replay will be available for 90 days.
Bread Financial announced the appointment of John J. Fawcett to its Board of Directors, effective May 14, 2024. Fawcett, a seasoned financial services executive, brings over 40 years of expertise in accounting, international, and business operations. He will serve on the Audit and Nominating & Corporate Governance committees. Fawcett's extensive background includes roles as CFO at CIT Group, Royal Bank of Scotland Americas, and Citizens Financial Group. His addition is part of Bread Financial's ongoing board refreshment strategy.
Bread Financial (NYSE: BFH) has released its 2023 Sustainability Report, highlighting major achievements and initiatives in sustainability.
The report emphasizes corporate governance, risk management, customer experience, associate engagement, environmental protection, and community investment.
Key milestones include the launch of a Financial Education Hub, the creation of the Office of People, Policy and Governance, and a new Career Navigator tool for associates.
The company doubled its community investments to $8 million and significantly boosted associate volunteerism. It also improved customer service via a new mobile app and self-service options.
Bread Financial has made strides in supplier diversity, sustainable sourcing, and environmental efforts, including a new Earth Month initiative and the use of biodegradable plastics.
Bread Financial Holdings (NYSE: BFH) has provided an update on its performance for April 2024. The company reported an increase in net principal losses from $114 million in April 2023 to $127 million in April 2024, resulting in a net loss rate rise from 7.8% to 8.6%. The delinquency rate also increased from 5.5% to 6.0%. Despite these challenges, the average credit card and other loans grew by 2% year-over-year, from $17,666 million to $18,006 million. These changes come amid Bread Financial's revised calculation methods to align more closely with industry practices.
