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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 ...

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CardWorks, with its 38-year history in credit and payments, along with Merrick Bank's focus on non-prime and near-prime consumers, positions the acquisition to bolster its presence in the credit card ...

Ally Financial’s fourth-quarter auto originations climbed year over year as the bank prioritized its auto lending business.

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 ...