Dec 31, 2024 · Cravath, Swaine & Moore LLP served as legal advisor to CardWorks. About Ally Financial Ally Financial Inc. (NYSE: ALLY) is a financial services company with the nation's largest all-digital bank and an industry-leading auto financing business, driven by a mission to "Do It Right" and be a relentless ally for customers and communities. The ...

Feb 18, 2020 · Ally Financial Inc. (NYSE: ALLY) announced today that it has entered into a definitive agreement to acquire CardWorks in a transaction valued at approximately $2.65 billion. Cardworks is a...

Jun 24, 2020 · Ally Financial (ALLY) said Wednesday it is terminating its planned $2.65 billion acquisition of privately held CardWorks due to fluctuating market and economic conditions as …

Ally Financial Inc. (NYSE: ALLY) and CardWorks, Inc. today announced that they have entered into a definitive agreement for CardWorks, and its wholly-owned bank subsidiary, Merrick...

Jan 22, 2025 · CHARLOTTE, N.C. and WOODBURY, N.Y., Jan. 22, 2025 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY) and CardWorks, Inc. today announced that they have entered into a definitive agreement for...

Jan 23, 2025 · Ally and CardWorks, Inc (and its wholly-owned bank subsidiary, Merrick Bank) have entered into a definitive agreement to for CardWorks to acquire Ally’s credit card portfolio that includes a total of 1.3 million active cardholders and $2.3 billion in credit card receivables.

Feb 18, 2020 · Ally Financial Inc. (NYSE: ALLY) and Cardholder Management Services, Inc. (CardWorks) today announced that they have mutually agreed to terminate their merger agreement, which had been announced...

Jan 22, 2025 · Consumer lender Ally Financial has agreed to sell its credit card business to credit and payments firm CardWorks, the companies said on Wednesday.

Jun 25, 2020 · Ally Financial will not be completing its $2.7 billion acquisition of CardWorks, dealing a blow to its plans to diversify beyond auto loans. The two companies said Wednesday they had agreed to terminate the merger agreement they had announced in February, citing the impact of the COVID-19 pandemic.

Jan 22, 2025 · Ally Financial (NYSE: ALLY) has announced a definitive agreement to sell its credit card business to CardWorks and its subsidiary Merrick Bank. The deal includes a $2.3 billion credit card portfolio with 1.3 million active cardholders as of December 31, 2024.