Ally Financial

Ally Financial first acquired the business, then known as Fair Square Financial, for $750 million in 2021.

Ally Financial has been on the hunt for a new CEO since the departure of Jeffrey Brown in January.

Synchrony says the acquisition will also include $2.2 billion in loan receivables.

Brown is due to depart the Michigan-based online bank on 31 January 2024.

A look back at some of the biggest deals this past quarter.