Ally, CardWorks

Ally steers back to auto after brief credit card venture
The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."
Ally Financial offloads credit card business, $2.3B loan portfolio
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 weren’t disclosed in a Wednesday statement, but Ally paid around $750 million for the business in 2021. Bloomberg reported on the pending sale in November.
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 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 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.
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,
What does Ally Financial do?
Ally Financial (NYSE: ALLY) became a standalone company in 2014 when it was spun off from General Motors (NYSE: GM). This is ...
Forecasting The Future: 8 Analyst Projections For Ally Financial
In the latest quarter, 8 analysts provided ratings for Ally Financial ALLY, showcasing a mix of bullish and bearish perspectives. The table below summarizes their recent ratings, showcasing the ...
Ally Financial price target raised to $45 from $41 at Morgan Stanley
Morgan Stanley raised the firm’s price target on Ally Financial (ALLY) to $45 from $41 and keeps an Overweight rating on the shares after Ally ...
Ally Financial stock surges after strong Q4 results, agreement to sell card business
Ally Financial (ALLY) stock jumped 8.6%in Wednesday premarket trading after the lender posted stronger-than-expected Q4 ...
Ally Shares Soar as Expenses, Loan-Loss Provisions Decline
Ally Financial Inc. fourth-quarter earnings surged as its net interest margin beat analysts’ estimates and expenses and ...
autofinancenews2d
Ally Financial originations climb 7.6%
Ally Financial’s fourth-quarter auto originations climbed year over year as the bank prioritized its auto lending business.
Ally Financial price target raised to $45 from $41 at RBC Capital
RBC Capital analyst Jon Arfstrom raised the firm’s price target on Ally Financial (ALLY) to $45 from $41 and keeps an Outperform rating on the ...
Ally Financial: Q4 Earnings Snapshot
DETROIT (AP) — DETROIT (AP) — Ally Financial Inc. (ALLY) on Wednesday reported fourth-quarter earnings of $108 million. On a per-share basis, the Detroit-based company said it had net income of 26 ...