American Express 2014 Annual Report Download - page 66

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AMERICAN EXPRESS COMPANY
2014 FINANCIAL REVIEW
폷our ability to maintain and expand our presence in the digital payments space, including online and mobile channels, which will depend
on our success in evolving our business models and processes for the digital environment, building partnerships and executing programs
with companies, and utilizing digital capabilities that can be leveraged for future growth;
폷factors beyond our control such as fire, power loss, disruptions in telecommunications, severe weather conditions, natural disasters, health
pandemics, terrorism, cyber-attacks or fraud, which could significantly affect spending on American Express cards, delinquency rates, loan
balances and travel-related spending or disrupt our global network systems and ability to process transactions; and
폷the potential failure of the U.S. Congress to renew legislation regarding the active financing exception to Subpart F of the Internal Revenue
Code, which could increase our effective tax rate and have an adverse impact on net income.
A further description of these uncertainties and other risks can be found in our Annual Report on Form 10-K for the year ended
December 31, 2014 and our other reports filed with the Securities and Exchange Commission.
66