MS Financial Inc., already reeling from the unexpected resignation of its chief financial officer, recently reported its delinquency ratio was 74% higher than stated at the end of the second quarter.

MS Financial, a subprime auto lender based in Jackson, Miss., said that its 30-day delinquency ratio reached 14.4% at July 31, up from 8.3% reported on June 30, and was "expected to be higher at Aug. 31."

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