SYNCHRONY FINANCIAL (NYSE:SYF) Files An 8-K Regulation FD DisclosureItem 7.01
Regulation FD Disclosure.
On November 16, 2017, Synchrony Financial (the “Company”) announced an arrangement under which Synchrony Bank, a federal savings association and wholly-owned subsidiary of the Company, will acquire the U.S. consumer credit receivables portfolio held by certain affiliates of PayPal Holdings, Inc.A presentation summarizing the arrangement is attached hereto as Exhibit 99.1.
The information contained in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is furnished to Item 7.01 of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly stated by specific reference in such filing.
A copy of the press release announcing the arrangement is attached hereto as Exhibit 99.2 and incorporated herein by reference.
|
Item 7.01 |
Financial Statements and Exhibits. |
(d) Exhibits
The following exhibits are being furnished as part of this report:
|
Number |
Description |
|
99.1 |
PayPal & Synchrony Financial Strategic Credit Partnership presentation – November 16, 2017 |
|
99.2 |
Joint press release, dated November 16, 2017 |
Synchrony Financial ExhibitEX-99.1 2 paypalpresentation.htm EXHIBIT 99.1 paypalpresentation PayPal & Synchrony Financial
Expanded Strategic Credit Relationship
November 16,…To view the full exhibit click here
About SYNCHRONY FINANCIAL (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.
