Synchrony Bank (NYSE:SYF) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into Material Definitive Agreements.
Synchrony Credit Card Master Note Trust (the Trust)
entered into the Twelfth Amendment to Transfer Agreement (the
Transfer Agreement Amendment), dated as of February 23,
2017, between the Trust and RFS Holding, L.L.C. (the
Depositor), a copy of which is filed with this Form 8-K as
Exhibit 4.1, in order to amend certain provisions of the Transfer
Agreement, dated as of September 25, 2003 (as amended to date,
the Transfer Agreement).
The Transfer Amendment added provisions to the Transfer Agreement
in order to satisfy the requirements of Regulation RR (Credit
Risk Retention) promulgated by the Securities Exchange Commission
to implement the credit risk retention requirements of Section
15G of the Securities Exchange Act of 1934, 15 U.S.C. Sections
78a et seq., and any regulations promulgated thereunder.
Item 9.01. Financial Statements and Exhibits.
|Exhibit No.||Document Description|
Twelfth Amendment to Transfer Agreement, dated as of February
23, 2017, between the Trust and the Depositor
About Synchrony Bank (NYSE:SYF)
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit. It offers its credit products through its subsidiary, Synchrony Bank (the Bank). Through the Bank, it offers a range of deposit products insured by the Federal Deposit Insurance Corporation (FDIC), including certificates of deposit, individual retirement accounts (IRAs), money market accounts and savings accounts. The Company offers three types of credit products: credit cards, commercial credit products and consumer installment loans. The Company also offers a debt cancellation product. It offers two types of credit cards: private label credit cards and Dual Cards. Synchrony Bank (NYSE:SYF) Recent Trading Information
Synchrony Bank (NYSE:SYF) closed its last trading session down -0.70 at 36.24 with 7,479,927 shares trading hands.