Source: Reuters

CardWorks: UPDATE 1-Ally Financial to buy CardWorks in $2.65 bln deal

Auto lender Ally Financial Inc on Tuesday agreed to acquire privately held CardWorks for $2.65 billion as it looks to diversify its consumer product offerings, supported by a growing and low-cost deposit base.

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Don Berman's photo - Chairman & CEO of CardWorks

Chairman & CEO

Don Berman

CEO Approval Rating

82/100

CardWorks provides non-prime credit card, consumer finance lending and compliance services for individuals and businesses. Read more