“Fourth quarter marketing will likely be somewhat above recent seasonal patterns.”

In context

“ted seasonality. Domestic Card noninterest expense was up 62% compared to the third quarter of 2024, reflecting a full quarter of combined operations and purchase accounting amortization. Operating expense and marketing both increased year-over-year. Total company marketing expense in the quarter was about $1.4 billion, up 26% year-over-year. Our choices in Domestic Card are the biggest driver of total company marketing. Compared to the third quarter of 2024, Domestic Card marketing in the quarter included the addition of Discover Marketing higher media spend and increased investment in premium benefits and differentiated customer experiences. Our marketing continues to deliver strong new account originations and to build an enduring franchise with heavy spenders at the top of the market. Fourth quarter marketing will likely be somewhat above recent seasonal patterns. Slide 12 shows third quarter results in our Consumer Banking business. Global payment network transaction volume for the quarter was about $153 billion. Auto originations were up 17% from the prior year quarter, driven by overall market growth and our strong position to pursue a resilient growth in the current marketplace. Consumer Banking ending loan balances increased $6.5 billion or about 8% year-over-year. Average loans were also up 8%. Compared to the year ago quarter, ending and average consumer deposits grew about 35%, driven largely by the addition of Discover deposits. Looking through the Discover impact, our digital-first national Consumer Banking business continues to grow and gain traction. Consumer Banking revenue for the quarter was up about 28% year-over-year, driven predom”