“in the real near term, I would think our average cash position will stay elevated relative to pre-pandemic levels, not necessarily relative to what we saw in the first quarter. But over a longer period of time, that will almost assuredly come back down and eventually be a tailwind for NIM.”

In context

“r different deposit products, our focus on customer relationships, industry competition, funding needs. But I will say, given deposit pricing tends to lag asset yield resets. I wouldn't be surprised if there's at least some upward pressure on beta from where we were in the first quarter. So as I then pull that into thinking about NIM over time, that is likely a potential headwind for us, particularly in the near term given the lag of deposit pricing, where wholesale funding costs go could also be a headwind. And as credit continues to normalize, we could continue to see revenue suppression. So those are a few things that will potentially provide a headwind to NIM from where we sit today. But on the other hand, there's definitely some tailwinds even though my response to Sanjay's question in the real near term, I would think our average cash position will stay elevated relative to pre-pandemic levels, not necessarily relative to what we saw in the first quarter. But over a longer period of time, that will almost assuredly come back down and eventually be a tailwind for NIM. We also could see a growing percentage of revolving card balances and in the immediate term, keep in mind, we'll have one more day in the second quarter. So I know that that's a lot of headwinds and tailwinds, but just wanted to give you a sense of all of the forces that play there. John Pancari: That's very helpful. And then just secondly, we've seen some headlines regarding the Walmart partnership. And I don't know if you can provide a little bit of color there and where that stands, maybe can you confirm the discussions, the timing of when any change could be? And then lastly, if you can update us on any other upcoming negotiations or maturities of other types of partnerships on that front? Richard Fairbank: Okay. Thank you, John. So -- we are, of course, in the middle of litigation”