Synchrony to Acquire Ally Financial's POS Financing Arm

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 to enhance its presence in the home improvement and health and wellness financing sectors, according to the release. Synchrony plans to offer both revolving credit ...