![]() ![]() ![]() They run credit cards for businesses like Gap, J.C. What does Synchrony Financial do? This is GE's private label credit card arm. Right now, that business is known as "GE Capital Retail Finance." When it becomes a publicly traded company, it will change its name to "Synchrony Financial" and trade on the New York Stock Exchange under the symbol "SYF."Ģ. What exactly is General Electric spinning off? GE is getting rid of its private label credit card business. For instance, most news sources do not even indicate that GE's spinoff of its retail finance operations is not a traditional spinoff in which you receive a certain amount of new shares automatically, but rather, is effectively a share swap in which you must elect to forfeit GE shares in order to receive an ownership interest in the independent retail finance company.īelow, I have included eight questions and answers that I believe are important for current and prospective GE investors to know, and I hope it will be of some use to you in clearing up the confusion caused by vague information issued surrounding the spinoff news.ġ. Most of the discussion on the topic, in my opinion, has been superficial and incomplete, giving investors only a vague idea of what is going. through our partners’ more than 300,000 locations across the united states and canada, and their websites and mobile applications, we offer our customers a variety of credit products to finance the purchase of goods and services.On Thursday, General Electric ( NYSE: GE) filed for an initial public offering of its retail finance operations. we provide a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers to help generate growth for our partners and offer financial flexibility to our customers. our roots in consumer finance trace back to 1932, and today we are the largest provider of private label credit cards in the united states based on purchase volume and receivables. Synchrony financial is one of the premier consumer financial services companies in the united states. All Other Nondepository Credit Intermediation.Industry All Other Nondepository Credit Intermediation.For more information, visit Twitter: Relations We offer the right financing products to the right customers in their channel of choice. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners." We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally-enabled product suites. A live webcast and replay will be made available on the Synchrony Investor Relations website at About Synchrony
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