Ally Financial has sold its credit card business to consumer finance company Cardworks. The deal, announced in a news release Wednesday (Jan. 22), will see CardWorks and its subsidiary Merrick...
Ally Financial is reportedly cutting staff, ending mortgage originations and rethinking its credit card business. The company will lay off less than 5% of its...
Carvana has revived a deal to sell $4 billion in used-car loan receivables to Ally Financial. The yearlong arrangement, announced Monday (Jan. 6), comes days...
Earnings reports this season, particularly from banks, have taken note of the resilience in consumer spending, especially on debit and credit cards, in various areas...
Ally Financial CEO Michael Rhodes says the company’s next few quarters will be “choppy.” In a third-quarter earnings presentation Friday (Oct. 18), the auto lender said it had imposed stricter...
The banks fizzled this past week, marking the lone swath of red — measured in terms of declining stock prices — in the latest weekly...
Americans’ struggles with their bills has reportedly been bad news for consumer lending firms. Shares in those companies fell last week following warnings from executives...
The money consumers saved during the pandemic has been spent. Savings are pressured, and credit card debt is mounting. When it comes to keeping current...