Synchrony has completed its purchase of Ally Lending, Ally Financial’s point-of-sale (POS) financing business. The deal, first announced in January, includes $2.2 billion of loan receivables and a loan portfolio that includes relations with nearly 2,500 merchants and supports more than 450,000 active borrowers in home improvement services and healthcare....
Synchrony Financial posted fourth-quarter results that showed charge-offs increasing as management pointed to credit normalization in the months ahead, and said the firm was also gaining traction in Pay Later options offered at checkout. Supplemental materials released alongside earnings on Tuesday (Jan. 23) indicated that...
In an age where consumers are grappling with ways to manage debt, but also finance the purchases they need, point-of-sale financing is gaining ground. To that end, and as announced last week, Synchrony will acquire Ally Financial’s point-of-sale financing arm. In terms of reach, Synchrony...
Synchrony and Ally Financial have reached a definitive agreement for Synchrony to acquire Ally’s point-of-sale financing business. This acquisition includes $2.2 billion of loan receivables and relationships with 2,500 merchant locations and 450,000 active borrowers, the companies said in a Friday (Jan. 19) press release. It will allow Synchrony...
January 15, 2024
Friday heralded the official kick off of earnings season, with banks leading the charge. Within the CE 100 Index, gains seen in the work segment were blunted by the bank segment’s 2.8% slide. For the week, the CE 100 Index added 1.1%. Banks Weigh In J.P. Morgan slipped 1.9% for the week. In our own coverage […]
January 23, 2023
Despite concerns over consumer spending, PYMNTS’ ConnectedEconomy “CE 100” Stock Index gained ground this past week, as it extended its recent run with another 1% weekly advance. And thus far,...
October 19, 2021
The only thing rising faster than digitally connected banking is the increasing consumer expectations that surround those services. In the latest Digital-First Banking Tracker, Ally Financial's Sathish Muthukrishnan discusses how...
March 27, 2024
Ally Financial has announced that Michael G. Rhodes will become its new CEO and will be appointed to the board of directors on April 29. Rhodes has just resigned as the CEO of Discover Financial Services and a member of its board of directors, Ally Financial said in a Wednesday (March 27) press release. “After an exhaustive search process, the […]
March 04, 2024
Synchrony has completed its purchase of Ally Lending, Ally Financial’s point-of-sale (POS) financing business. The deal, first announced in January, includes $2.2 billion of loan receivables and a loan portfolio that includes relations with nearly...
January 19, 2024
Synchrony and Ally Financial have reached a definitive agreement for Synchrony to acquire Ally’s point-of-sale financing business. This acquisition includes $2.2 billion of loan receivables and relationships with 2,500 merchant locations and 450,000...
January 12, 2024
Ally Financial named its president of dealer financial services, Douglas Timmerman, as its interim CEO. Timmerman will assume the role Feb. 1, following the departure of current CEO Jeffrey J....
