Ally Offloads Credit-Card Business

Consumer lender Ally Financial to sell credit card business to CardWorks
(Reuters) -Consumer lender Ally Financial has agreed to sell its credit card business to credit and payments firm CardWorks, the companies said on Wednesday. Shares of Ally jumped 8.6% in premarket trading.
Ally drops credit card business, posts quarterly profit
Auto lender Ally Financial said Wednesday that it's officially ending its foray into credit cards under a broader restructuring, even as credit issues in its flagship auto loan business showed signs of waning. Your complimentary guest account includes access to a limited number of articles.
Ally Offloads Credit-Card Business, $2.3 Billion Loan Portfolio
Ally Financial Inc. reached a deal to offload its credit-card unit to CardWorks Inc., bowing out of a business it entered just over three years ago.
Ally Financial Shares Rise on Strong 4Q, Card Business Sale
Shares of Ally Financial advanced after fourth-quarter results beat analyst projections and the company inked a deal to sell its credit-card business. The stock was up 5% at $40.08 in early trading. Shares are up 11% since the year started and were trading at around $36.32 this time a year ago.
Ally to sell credit card business to CardWorks
Plans for the sale were hinted at earlier this year, a month after the CEO said the business wasn’t within Ally’s core focus.
Ally Financial To Sell Its Credit Card Business - Quick Facts
Ally Financial (ALLY) and CardWorks announced they have entered into a definitive agreement for CardWorks, and its wholly-owned bank
Ally Financial Stock Surges as Company Beats Profit Estimates, Sells Credit Card Business
Key Takeaways Ally Financial posted fourth-quarter earnings and revenue that topped estimates as it reduced expenses.CEO Michael Rhodes said Ally "took significant action" in the quarter to improve its finances.
Ally Financial divests credit card business to CardWorks
This move aligns with Ally's mission to focus on its core services, including approximately 10 million customers in banking, brokerage, and auto financing. CardWorks, with its 38-year history in credit and payments,
Ally and CardWorks Reach Agreement on Sale of Ally's Credit Card Business
Ally Financial Inc. (NYSE:?ALLY) and CardWorks, Inc. today announced that they have entered into a definitive agreement for CardWorks, and its wholly-owned bank subsidiary, Merrick Bank, to acquire Ally's credit card business,
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