Synchrony Financial
name
Synchrony Financial
id
SYF
summary
Synchrony Financial is an American consumer financial services company headquartered in Stamford, Connecticut. It offers consumer financing products, including credit, promotional financing and loyalty programs, installment lending to industries, and FDIC-insured consumer savings products through Synchrony Bank, its wholly owned online bank subsidiary. Founded in 2003, it has roots tracing back to 1932 with GE Capital Retail Bank. Synchrony is the largest provider of private-label credit cards in the U.S., partnering with brands like Amazon, Lowe's, and Sam's Club. It has also made significant acquisitions, such as GPShopper in 2017 and Loop Commerce in 2018, and expanded its Car Care acceptance network. The company has faced settlements, including a $225 million settlement in 2014 for deceptive and discriminatory credit card practices.