[…] Ally Financial has sold its credit card business to consumer finance company Cardworks. The deal will see CardWorks and its subsidiary Merrick Bank acquire Ally’s credit card portfolio of $2.3 billion in credit card receivables and 1.3 million active cardholders. The news comes two weeks after reports that Ally was laying off a little less than 5% of its staff, ending mortgage originations and re-examining its credit card business. [PYMNTS] […]