Great Western Financial Corp. said Monday that it had agreed to sell its $220 million of credit card loans to an affiliate of Associates Corporation of North

The deal, which is expected to be completed later this month, would be the largest credit-card-portfolio purchase since 1991. The market has been relatively dormant since the 1988-90 period, when well over $10 billion of card loans changed hands, including single portfolios of more than $1 billion.

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