Ally Financial exploring potential sale of credit card unit, Bloomberg says

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.