Ally Financial enters the credit-card business

Ally Financial (NYSE:ALLY) has officially entered the credit card business. The company’s bank subsidiary, Ally Bank, announced the Ally CashBack Credit Card Thursday. "As we evaluated options to expand our product offerings, adding a credit card to our portfolio was a logical move since it has been a frequent request of our Ally Bank customers," said Diane Morais, CEO and president of Ally Bank. "We are confident the Ally CashBack Credit Card's rewards structure will resonate with customers,…

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