American Express Co. said net writeoffs for the second half of the year may be better than its previous forecast after uncollectible loans fell in June.

"Assuming delinquency and bankruptcy trends continue to be below previously expected levels, the company believes that it is highly likely" that writeoffs for the third and fourth quarters on U.S. cards "will be better than previously forecasted," the New York financial-services company said in a U.S. government filing on Wednesday.

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