Five publicly traded card and consumer lenders wrote off a combined $8.71B in loans in the second quarter of 2026, according to their quarterly filings with the SEC. Capital One wrote off $5.28B, Synchrony $1.80B, Ally $685M, OneMain $623M and Bread Financial $316M.
These are gross write-offs, before money later collected on written-off loans. Net of recoveries, Capital One’s figure was $3.64B and Synchrony’s $1.36B. Synchrony reported $1.65B of its total as credit card write-offs. Capital One’s year-earlier figure ($4.28B) includes Discover only from its acquisition in May 2025, so the two quarters are not like for like.
Gross write-offs by company
| Company | Gross write-offs, Q2 2026 | Q2 2025 | Recoveries, Q2 2026 | Net of recoveries | Main lending |
|---|---|---|---|---|---|
| Capital One Financial | $5.28B | $4.28B | $1.64B | $3.64B | Credit cards (including Discover since May 2025), auto loans and commercial loans |
| Synchrony Financial | $1.80B | $1.80B | $434M | $1.36B | Store and co-branded cards, plus some installment and commercial loans |
| Ally Financial | $685M | $602M | $291M | $394M | Mostly auto loans |
| OneMain Holdings | $623M | $532M | $117M | $506M | Personal installment loans, plus a small card book |
| Bread Financial | $316M | $348M | $85M | $231M | Store and co-branded cards |
Company-wide figures for all loans the company holds, not card loans only. Net of recoveries is our subtraction. The CSV lists the XBRL tag each figure comes from.
What these numbers are
A write-off (or charge-off) is a loan the lender has given up expecting to collect in full and removed from its books. Card lenders typically write off a balance after about 180 days without payment. The amounts reflect how big each lender is, so a larger figure does not mean a lender’s borrowers are doing worse; the companies report write-off rates in their filings for that. The companies tag the same idea with different XBRL elements, and the mix of loans is very different: Ally is mainly an auto lender and OneMain mainly makes personal loans. Banks’ card-only charge-off rates are on our bank card charge-offs page.
Source
U.S. Securities and Exchange Commission, EDGAR, XBRL financial data from each company’s Form 10-Q for the quarter ended June 30, 2026 (allowance for credit losses rollforward: write-offs and recoveries). Filings by the companies are public records. Downloaded October 16, 2026. Our table is available under CC BY 4.0. Credit "My Credit Guide (mycreditguide.org)".
Steven Reynolds, "Loan Write-Offs at Public Card and Consumer Lenders," My Credit Guide, October 16, 2026, https://mycreditguide.org/data/consumer-lender-write-offs/.