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The rest of the credit card industry continues to be dogged by slow loan growth, but retail-branded cards are bouncing back, thanks largely to a big push by merchants.
September 14 -
Honda, Toyota and Nissan's financing arms are poised to agree to limit discretionary pricing for dealers after regulators accused them of allowing partners to mark up loans at higher rates to minorities, according to confidential documents.
June 30 -
Ally Financial surpassed Wells Fargo during the second quarter to regain its perch as the nation's largest auto lender, according to Experian Automotive.
August 27
Alliance Data Systems has agreed to work with Toyota on a new line of private-label credit cards and to manage the Japanese automaker's existing co-branded card program.
Alliance Data in Dallas will also acquire a Toyota portfolio of co-branded credit card accounts. Financial terms were not disclosed. The deal is expected to close in the fourth quarter.
Under the deal, Alliance Data will handle marketing for the existing Toyota and Lexus co-branded credit cards, which are accepted by a broad range of retailers.
The credit-card company will also launch new private-label cards for purchases from Toyota and Lexus, including vehicle service and parts. Both programs will include rewards programs for consumers who make purchases from Toyota or Lexus.
Alliance Data's Epsilon subsidiary already handles in-dealership support of Toyota's card programs.
Management of the private-label card and co-branded card for Toyota will be handled by Alliance Data's card services subsidiary in Columbus, Ohio.
