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 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 ...

(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 ...

Financial services company Ally Financial ( NYSE: ALLY) has reached an agreement to sell its credit card business to CardWorks. The transaction is expected to close in 2025, subject to the completion ...

CardWorks agreed to buy the business, including a $2.3 billion credit-card loan portfolio with 1.3 million active cardholders as of the end of last year, Ally said. Additional terms of the deal ...

Jan 22 (Reuters) - Consumer lender Ally Financial (ALLY.N), opens new tab has agreed to sell its credit card business to credit and payments firm CardWorks, the companies said on Wednesday.

"This portfolio and platform acquisition is an exciting step in the expansion of our near-prime credit card business, and a natural fit for us," said CardWorks CEO Dan Pillemer. "As servicing ...

Ally Financial shares surged Wednesday after the financial firm topped earnings and revenue estimates as it cut costs, and announced it was selling its credit card business.

Financial services company Ally Financial (NYSE:ALLY) has reached an agreement to sell its credit card business to CardWorks. The transaction is expected to close in 2025, subject to the ...

Ally Financial has entered into an agreement to sell its credit card division. Ally Financial Inc. (NYSE: ALLY) has entered into an agreement to sell its credit card division to CardWorks Inc ...

A Record Number of Consumers Are Making Minimum Credit Card Payments As Delinquencies Also Rise ...