The Stamford, Conn.-based credit card issuer saw improvement in late payments by its customers, but the pace of loan growth also slowed during the fourth quarter.
The deal for PayPal’s consumer loan portfolio will make Synchrony a bigger player in e-commerce. And the agreement helps the Silicon Valley payments giant achieve its goal of reducing its exposure to the credit cycle.
The store-branded credit card issuer reported that more borrowers fell behind on their payments in the third quarter. Still, net earnings were stronger than expected.
Synchrony Financial and Alliance Data Systems are particularly vulnerable to recent shifts in Americans’ shopping habits, according to new research from Moody’s Investors Service.
Wall Street is whining about a New York City law meant to close the gender pay gap; CEOs vow action on diversity; and could a female college football player be an NFL first?
Some investors have raised questions about the credibility of the firm’s leadership since credit card issuer announced that its loss reserves would surge this year.
