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A deal by TD Bank to buy Target's consumer credit card portfolio, which follows TD's acquisition of MBNA Canada late last year, will "significantly" expand the bank's card presence in North America.
October 23 -
Toronto-Dominion Bank and TCF Financial Corp. said Thursday they had completed separate acquisition deals — TD for almost all of MBNA Canada's credit card portfolio, TCF for auto lender Gateway One.
December 1 -
Bank of America Corp. said Monday that it is selling an $8.6 billion credit card portfolio in Canada and plans to unload $19 billion of card loans in Europe as it works to exit the international card business.
August 15
TD Bank Group (TD) will run all facets of a credit card program for one of the nation's largest jewelry chains.
The $810 billion-asset bank, based in Toronto, said Wednesday its retail card services unit will take over the private-label program for Fred Meyer Jewelers, based in Portland, Oregon, and the company's Littman Jewelers subsidiary.
Under the agreement, TD Retail Card Services will direct all phases of the program, which encompasses 344 jewelry stores in 32 states. Fred Meyer, a unit of Kroger (KR), is the nation's third-largest jewelry store, with outlets in malls and Fred Meyer and Kroger Marketplace stores, according to the companies. The program will offer consumers varied options to finance purchases, they added.
"We are very excited to be able to offer customers even more savings and additional benefits with new and improved special financing, helping them celebrate life's special occasions with the timeless gift of fine jewelry," Peter Engel, Fred Meyers' president, said in a news release.
The announcement follows a series of steps by TD Bank to expand its credit card business. The company said Tuesday it will
