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$COF, which competes with $DFS and $SYF, said in 3Q16 it expects a one-time rewards expense that will reduce net interchange income by approx. $45-55MM. In 3Q16, the company expects to complete some system enhancements that will move the rewards liability cut-off to the last day of the quarter, resulting in a one-time increase in rewards costs.
$TWTR mentions Snap as one of its fiercest rivals in its 10K filing. Great head start for Snap ahead of IPO!