Ally Financial (ALLY) is working with a financial adviser to explore a sale of its credit card arm, people familiar with the matter told Bloomberg’s Matthew Monks. While it is not clear what the business is worth, Ally agreed to pay $750M for the then-called Fair Square Financial unit in 2021 and Ally had about $2.1B in credit card loans on average at the end of Q3, the author says. Shares of Ally are up 3.3% in afternoon trading.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
