Ally Sells $2.3 Billion Credit Card Business to CardWorks
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Ally Financial has sold its $2.3 billion credit card business to CardWorks, including 1.3 million active cardholders. This move marks a significant shift in Ally's business strategy.
January 22, 2025 | 3:45 pm
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Ally Financial has divested its $2.3 billion credit card business to CardWorks, which includes 1.3 million active cardholders. This sale indicates a strategic shift for Ally, potentially impacting its revenue streams and focus areas.
The sale of the credit card business is a significant move for Ally Financial, as it involves a large portfolio and a substantial number of cardholders. This could impact Ally's revenue and strategic focus, but the immediate stock price impact is uncertain without further details on the use of proceeds or strategic plans.
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