CFGCitizens Financial Group

1 paragraph in Risk Factors of the 10-K filed Feb 12, 2026 with nothing like it in the 10-K filed Feb 13, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.

Compared with the Risk Factors in the latest 10-K of the other 75 Financials companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.

U.S. global trade policies, including the imposition of tariffs and uncertainty surrounding the resolution of trade disputes, or renewal of trade agreements, with various countries, may cause inflation to rise and ultimately affect interest rates. In addition, the risk of government shutdowns could cause volatility in the financial markets by adversely impacting consumer and investor confidence. Unfavorable changes related to these national economic and political conditions may also result in increased delinquencies and defaults among borrowers in light of economic uncertainty, which could require us to charge off a higher percentage of loans and increase the provision for credit losses, ultimately reducing our net income.

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New in the latest 10-Q

11 paragraphs in the 10-Q filed Oct 28, 2026 with nothing like them in the 10-Q filed Aug 3, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.

10-Q

In October 2026, we announced that our Board of Directors declared a quarterly common stock dividend of $0.52 per share, a $0.06, or 13%, increase compared with the prior quarter. The dividend is payable on November 13, 2026 to shareholders of record at the close of business on October 30, 2026.

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In September 2026, the FRB finalized changes to its SCB rule to reduce year-over-year volatility in the regulatory capital requirements that come out of its annual stress test. Under the final rule, a firm’s SCB requirement will be based on the average results of the two most recent annual supervisory stress tests for firms subject to the stress test each year. Category IV firms will be subject to results averaging only if they elect or are required to participate in consecutive supervisory stress tests. Averaging will begin with SCB requirements calculated in 2028, which take effect on January 1, 2029. The final rule also moves the annual effective date of the SCB requirement from October 1 to January 1 of the following year, which gives firms more time to comply with updated requirements. The final rule takes effect on December 1, 2026.

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In September 2026, the FRB also finalized changes to make its supervisory stress testing framework more transparent and publicly accountable. The final rule requires the FRB to seek public comment each year on its stress test scenarios and any material model changes. It also updates the framework the FRB uses to design scenarios, adopts the models for the 2027 stress test, and adjusts the stress test calendar. The final rule takes effect on November 2, 2026.

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• Issued 400,000 shares of 6.750% Fixed-Rate Reset Non-Cumulative Perpetual Series J Preferred Stock at an aggregate offering price of $400 million; and

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• Issued a notice to redeem all of the outstanding shares of the 4.000% Fixed-Rate Reset Non-Cumulative Perpetual Series G Preferred Stock, which were redeemed on October 6, 2026.

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• Issued 400,000 shares of 6.750% Fixed-Rate Reset Non-Cumulative Perpetual Series J Preferred Stock at an aggregate offering price of $400 million;

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• Issued a notice to redeem all of the outstanding shares of the 4.000% Fixed-Rate Reset Non-Cumulative Perpetual Series G Preferred Stock, which were redeemed on October 6, 2026;

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Financial statements and notes

During the third quarter of 2026, the Company transferred AFS securities with an aggregate fair value of $ 833 million to HTM. The related net pretax unrealized loss of $ 199 million remains in AOCI and will be amortized over the remaining lives of the securities as a yield adjustment.

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Retained interests from the sale and securitization of originated residential mortgage loans totaled $ 15 million during the three and nine months ended September 30, 2026, and $ 87 million during the three and nine months ended September 30, 2025. The mortgage-backed securities received from the issuers, FNMA and FHLMC, include a substantive guarantee and are classified as Debt securities available for sale in the Consolidated Balance Sheets.

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In July 2026, the Company issued $ 400 million, or 400,000 shares, of 6.750 % Fixed-Rate Reset Non-Cumulative Perpetual Series J Preferred Stock, par value $ 25 per share, with a liquidation preference of $ 1,000 per share (the “Series J Preferred Stock”). Net proceeds were $ 395 million after underwriting fees and other expenses. The Series J Preferred Stock has no stated maturity and is not subject to any sinking fund or other obligation of the Company. With the prior approval of the FRB or other appropriate federal banking agency, as required under applicable capital rules, the Company may redeem the Series J Preferred Stock at a redemption price of $ 1,000 per share, plus any declared and unpaid dividends. The Series J Preferred Stock is redeemable at the Company’s option, in whole or in part, on any dividend payment date on or after October 6, 2031 or, in whole but not in part, at any time within 90 days following a regulatory capital treatment event. Holders of the Series J Preferred Stock have no voting rights, except in limited circumstances or as otherwise required by law.

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In September 2026, the Company provided notice of its intent to redeem all outstanding shares of its 4.000 % Fixed-Rate Reset Non-Cumulative Perpetual Series G Preferred Stock (the “Series G Preferred Stock”). At that time, the Series G Preferred Stock was reclassified from Preferred stock to Other liabilities in the Consolidated Balance Sheets. On October 6, 2026, the Company redeemed all outstanding shares of the Series G Preferred Stock at a redemption price of $ 1,000 per share.

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The 10-Q's risk factors against the 10-K

Item 1A of the 10-Q filed Oct 28, 2026 against Item 1A of the 10-K filed Feb 12, 2026. A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed. Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed, Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal (cut words struck through, new words highlighted and underlined). Text on the page, not a score; each links to the filing at sec.gov.

What the 10-Q itself says about its risk factors:
In addition to the other information set forth in this Report, you should consider the risks described under Item 1A “Risk Factors” in the Company’s 2025 Form 10-K.

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1 paragraph in the 10-Q's Item 1A, and none of them adds, rewords or quietly edits a paragraph of the 10-K's.