Ally Financial (ALLY) Wraps Up POS Financing Business Sale

Ally Financial Inc. (ALLY) has completed the divestiture of its point-of-sale (POS) financing business – Ally Lending (that includes $2.2 billion of loan receivables as of Dec 31, 2023) – to Synchrony (SYF) . The move reflects ALLY's commitment to optimizing its capital allocation and prioritizing resources toward high-growth areas.The deal was announced in January. At that time, ALLY expected the divestiture to bolster its Common Equity Tier 1 (CET1) ratio by almost 15 basis points (bps) at closing. Furthe ...