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 ...

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.

The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions.

CardWorks agreed to buy the business, including a $2.3 billion credit-card loan portfolio with 1.3 million active cardholders ...

Ally Financial Inc. (NYSE: ALLY) is a digital financial services company specializing in automobile loans. They were ...

Ally Financial Inc. reached a deal to offload its credit-card unit to CardWorks Inc., bowing out of a business it entered ...

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

This move aligns with Ally's mission to focus on its core services, including approximately 10 million customers in banking, ...

(Reuters) -Consumer lender Ally Financial has agreed to sell its credit card business to credit and payments firm CardWorks, ...

Sale enables Ally to be more focused on its core businesses; acquisition enhances CardWorks' position as a leading credit ...

Ally Financial Inc.'s Q4 results alleviated some credit loss concerns, but has elevated delinquencies and an uncertain 2025 ...