Sign in

Synchrony Financial (SYF)

Synchrony Financial is a premier consumer financial services company that offers a comprehensive suite of digitally-enabled products across various industries, including digital, health and wellness, retail, telecommunications, home, auto, outdoor, and pet sectors . The company primarily provides credit products through financing programs established with national and regional retailers, local merchants, manufacturers, buying groups, industry associations, and healthcare service providers . Synchrony's product offerings include private label, dual, co-brand, and general-purpose credit cards, as well as short- and long-term installment loans and consumer banking products .

  1. Home & Auto - Offers credit products tailored for home improvement and automotive purchases, working with partners in these sectors to provide financing solutions.
  2. Digital - Provides credit solutions for digital platforms, enhancing online shopping experiences through partnerships with major e-commerce and digital service providers.
  3. Diversified & Value - Delivers a range of credit products to partners in various retail sectors, focusing on value-driven consumer segments.
  4. Health & Wellness - Supplies financing options for healthcare services, collaborating with healthcare providers to offer patients flexible payment plans.
  5. Lifestyle - Caters to lifestyle-oriented sectors, including outdoor and pet industries, by offering credit products that support consumer purchases in these areas.

You might also like

NamePositionExternal RolesShort Bio

Brian D. Doubles

ExecutiveBoard

President and CEO

Member of Business Roundtable and Bank Policy Institute

Brian D. Doubles has been President and CEO since April 2021. He joined SYF in 2009 and previously served as CFO and President. He has extensive experience in financial leadership and strategy.

Alberto Casellas

Executive

EVP, CEO of Health & Wellness Platform

Board Member at Domus Kids

Alberto Casellas has been with SYF since 2014 and became CEO of the Health & Wellness platform in June 2021. He previously led CareCredit and other client initiatives.

Bart Schaller

Executive

EVP, CEO of Digital Platform

Executive Sponsor of SYF's EnAbled+ Network

Bart Schaller has been with SYF since 2014 and became CEO of the Digital platform in June 2021. He previously served as Chief Marketing Officer and led Business Development.

Brian J. Wenzel, Sr.

Executive

EVP and CFO

None

Brian J. Wenzel, Sr. has been EVP and CFO since May 2019. He has held various financial leadership roles at SYF and GE, including CFO for the Retail Card platform.

Carol Juel

Executive

EVP, Chief Technology and Operating Officer

Board Member at Brighthouse Financial; Board Chair at Girls Who Code; Advisory Board Member at UConn School of Engineering; Member of CNBC Technology Executive Council and Fast Company Impact Council

Carol Juel joined SYF in 2014 and became CTO and COO in June 2021. She has led SYF's digital transformation and is recognized as a leader in technology and diversity.

Curtis Howse

Executive

EVP, CEO of Home & Auto Platform

Member of ABA Card Policy Council; Participant in HBCU Partnership Challenge; Member of Executive Leadership Council

Curtis Howse joined SYF in 2015 and became CEO of the Home & Auto platform in June 2021. He has held leadership roles in Payment Solutions and Direct to Consumer efforts.

Jonathan S. Mothner

Executive

EVP, Chief Risk and Legal Officer

None

Jonathan S. Mothner joined SYF in 2014 as General Counsel and became Chief Risk and Legal Officer in November 2023. He has extensive legal and compliance experience.

Maran Nalluswami

Executive

EVP, CEO of Diversified & Value and Lifestyle Platforms

None

Maran Nalluswami joined SYF in 2016 and became CEO of Diversified & Value and Lifestyle platforms in January 2023. He has held leadership roles in Sam's Club and Payment Solutions.

Arthur W. Coviello, Jr.

Board

Director

Board Member at Tenable Holdings, Oomnitza, Phosphorous Security, and RegScale; Managing Partner at SYN Ventures

Arthur W. Coviello, Jr. joined SYF's Board in November 2015. He is a cybersecurity expert and former CEO of RSA Security.

Ellen M. Zane

Board

Director

Board Member at Boston Scientific and Haemonetics

Ellen M. Zane joined SYF's Board in February 2019. She is a healthcare executive and former CEO of Tufts Medical Center.

Fernando Aguirre

Board

Director

Board Member at CVS Health and Barry Callebaut; Owner of Erie SeaWolves and minority owner of Myrtle Beach Pelicans

Fernando Aguirre joined SYF's Board in July 2019. He has extensive leadership experience, including as CEO of Chiquita Brands International.

Jeffrey G. Naylor

Board

Non-Executive Chair of the Board

Board Member at Dollar Tree and Wayfair

Jeffrey G. Naylor joined SYF's Board in July 2014 and became Non-Executive Chair in April 2023. He has extensive financial expertise and leadership experience.

Kamila Chytil

Board

Director

COO of DentaQuest LLC

Kamila Chytil joined SYF's Board in April 2022. She has expertise in electronic payments technology and operations.

Laurel J. Richie

Board

Director

Board Member at Bright Horizons, Hasbro, and SeatGeek

Laurel J. Richie joined SYF's Board in November 2015. She has expertise in marketing, communications, and leadership.

P.W. "Bill" Parker

Board

Director

Board Member at S&P Global Ratings; Member of nonprofit capital campaign committees

Bill Parker joined SYF's Board in July 2020. He has extensive expertise in risk management and credit.

Paget L. Alves

Board

Director

Board Member at Assurant, Yum! Brands, Sorenson Communications, and Ariel Alternatives

Paget L. Alves joined SYF's Board in November 2015. He has extensive experience in sales and telecommunications leadership.

Roy A. Guthrie

Board

Director

Board Member at Mr. Cooper Group and OneMain Holdings

Roy A. Guthrie joined SYF's Board in July 2014. He has extensive experience in consumer finance and risk management.

  1. Regarding the CFPB's pending late fee rule change, can you provide a detailed update on the litigation status and how the potential implementation of an $8 late fee safe harbor could impact your financial performance and strategy?

  2. With the observed moderation in consumer discretionary spending, particularly in categories like furniture, electronics, and cosmetics, how are you adjusting your growth strategy in the Health and Wellness segment to address the slowdown in bigger ticket discretionary purchases?

  3. You've mentioned the implementation of proactive pricing and policy changes in response to the anticipated late fee rule changes. How confident are you in achieving earnings neutrality through these measures, and can you elaborate on any early indications of customer behavior shifts, such as lower paper statement fee income and customer attrition?

  4. Given the ongoing challenges in late-stage collections and the evolution of collection rules, how are you adapting your collection strategies to improve recovery rates, and what impact do you anticipate this will have on your credit performance moving forward?

  5. The guidance for reserve coverage at the end of the year suggests a larger seasonal step-down compared to previous years. Can you explain the factors driving this expectation, and how changes in macroeconomic conditions or consumer payment behavior are influencing your provisioning?

Program DetailsProgram 1
Approval DateApril 2024
End Date/DurationJune 30, 2025
Total additional amount$1.0 billion
Remaining authorization amount$700 million as of September 30, 2024
DetailsIncremental share repurchase program
YearAmount Due ($ in millions)Debt TypeInterest Rate (%)% of Total Debt
2024175 Borrowings of Consolidated Securitization Entities5.81-6.07 1.1% = (175 / 15,632) * 100
20255,650 Fixed Senior Unsecured Notes4.500-5.400 36.2% = (5,650 / 15,632) * 100
20263,250 Fixed Senior Unsecured Notes3.700 20.8% = (3,250 / 15,632) * 100
20273,700 Fixed Senior Unsecured Notes3.950-5.625 23.7% = (3,700 / 15,632) * 100
20280 N/AN/A0.0% = (0 / 15,632) * 100
Thereafter2,900 Fixed and Fixed-to-Floating Senior Unsecured Notes2.875-7.250 18.6% = (2,900 / 15,632) * 100

Competitors mentioned in the company's latest 10K filing.

CompanyDescription

Major financial institution competing for relationships with partners in connection with retaining existing or establishing new consumer credit programs.

Major financial institution competing for relationships with partners in connection with retaining existing or establishing new consumer credit programs.

Major financial institution competing for relationships with partners in connection with retaining existing or establishing new consumer credit programs.

Major financial institution competing for relationships with partners in connection with retaining existing or establishing new consumer credit programs.

Major financial institution competing for relationships with partners in connection with retaining existing or establishing new consumer credit programs.

Major financial institution competing for relationships with partners in connection with retaining existing or establishing new consumer credit programs.

Major financial institution competing for relationships with partners in connection with retaining existing or establishing new consumer credit programs.

Non-bank provider of pay-over-time solutions extending consumer credit-like offerings but not facing the same restrictions as banks.

Afterpay

Non-bank provider of pay-over-time solutions extending consumer credit-like offerings but not facing the same restrictions as banks.

Klarna

Non-bank provider of pay-over-time solutions extending consumer credit-like offerings but not facing the same restrictions as banks.

Larger technology-focused company offering financial products sometimes in collaboration with competitors.

Larger technology-focused company offering financial products sometimes in collaboration with competitors.

Larger retailer offering financial products sometimes in collaboration with competitors.

Larger retailer offering financial products sometimes in collaboration with competitors.

Direct banking competitor in the retail deposits business.

Direct banking competitor in the retail deposits business.

Capital One 360

Direct banking competitor in the retail deposits business.

CIT

Direct banking competitor in the retail deposits business.

Direct banking competitor in the retail deposits business.

Discover

Direct banking competitor in the retail deposits business.

E-Trade

Direct banking competitor in the retail deposits business.

Marcus by Goldman Sachs

Direct banking competitor in the retail deposits business.

CustomerRelationshipSegmentDetails

Lowe’s

Multi-year private label credit card and financing solutions

Home & Auto

Contributed more than 10% of total interest and fees on loans for 2023.

PayPal

Multi-year private label credit card and financing solutions

Digital

Contributed more than 10% of total interest and fees on loans for 2023.

Sam’s Club

Multi-year private label credit card and financing solutions

Diversified & Value

Contributed more than 10% of total interest and fees on loans for 2023.

NameStart DateEnd DateReason for Change
KPMG LLP2013 PresentCurrent auditor

Notable M&A activity and strategic investments in the past 3 years.

CompanyYearDetails

Ally Lending

2024

Completed on March 1, 2024 for $2.0 billion in cash, this acquisition brought in a point‐of-sale financing business with key assets including loan receivables (adjusted fair value: $1.677 billion), cash, and intangibles, while assuming certain liabilities and recording $252 million in goodwill; the deal strategically expands presence in home improvement and health & wellness sectors.

Allegro Credit

2021

Completed in February 2021, the acquisition aimed to deepen the company’s footprint in the health and wellness market—specifically in audiology and dental services—by integrating Allegro into the CareCredit platform, though specific financial terms were not disclosed.

Pets Best

2022

Limited information is available; Pets Best is noted as part of the Health & Wellness sales platform contributing to higher commission fees, but no details on deal value, structure, or strategic rationale have been provided.

Recent press releases and 8-K filings for SYF.

Synchrony announces Q3 2025 results
·$SYF
Earnings
Guidance Update
Share Buyback
  • Purchase volume of $46 billion (+2% YoY) and net earnings of $1.1 billion ($2.86/share), with net interest margin up to 15.62%
  • Delinquency rates improved (30+ days at 4.39%, 90+ days at 2.12%) and net charge-off rate fell to 5.16%
  • Ending loan receivables down 2% to $100 billion, CET1 ratio at 13.7%, and returned $971 million to shareholders, including $861 million in buybacks and a $1 billion incremental authorization
  • 2025 guidance: flat ending receivables, loss rate 5.6–5.7%, net revenue $15.0–15.1 billion, NIM ~15.7%, efficiency ratio 33–33.5%
7 days ago
Synchrony Financial reports Q3 2025 results
·$SYF
Earnings
Guidance Update
Share Buyback
  • Net revenue was flat at $3.823 bn, net interest income rose 2% to $4.720 bn, net interest margin expanded to 15.62%, and EPS jumped to $2.86 (+47%) in Q3’25.
  • Provision for credit losses declined 28% to $1.146 bn, while net charge-offs improved to 5.16% of average loans, down from 6.06% a year ago.
  • Purchase volume grew 2% to $46.0 bn, loan receivables totaled $100.2 bn, and average active accounts were 68.3 mm.
  • Common Equity Tier 1 ratio increased to 13.7%, and the Board approved an incremental $1.0 bn share repurchase, leaving $2.1 bn remaining through 2Q ’26.
  • For FY 2025, management narrowed net revenue guidance to $15.0–15.1 bn, expects net charge-offs of 5.6–5.7%, and an efficiency ratio of 33.0–33.5%.
7 days ago
Synchrony Financial reports Q3 2025 results
·$SYF
Earnings
Share Buyback
  • Net earnings of $1.1 billion, or $2.86 per diluted share, up from $789 million, or $1.94 per share in Q3 2024.
  • Purchase volume rose 2% to $46.0 billion, while loan receivables decreased 2% to $100.2 billion.
  • The Board approved an incremental $1.0 billion share repurchase authorization, bringing total remaining capacity to $2.1 billion through June 30, 2026.
  • Key metrics included a 3.6% return on assets, 13.7% CET1 ratio, and $971 million of capital returned to shareholders.
7 days ago
Synchrony Financial reports Q3 2025 results, increases share buyback authority
·$SYF
Earnings
Share Buyback
  • Synchrony Financial announced its third quarter 2025 results for the period ended September 30, 2025.
  • Brian Doubles (CEO) and Brian Wenzel Sr. (CFO) will host a conference call at 8:00 a.m. ET to discuss the results and outlook.
  • The Board approved a $1 billion increase to share repurchase authorization, bringing total capacity to $2.1 billion through June 30, 2026.
7 days ago
Synchrony Financial faces calls to disclose director independence issues
·$SYF
Legal Proceedings
Board Change
  • The OPEIU and CWA filed complaints with the SEC, NYSE and New York Attorney General alleging Synchrony Financial failed to disclose a material relationship that compromised the independence of Audit Committee chair Paget Alves.
  • Alves joined Project Black’s advisory committee in February 2021, and in February 2023 Synchrony made a $100 million co-investment in the fund while she chaired the Audit Committee.
  • Synchrony did not disclose these relationships in its 10-Ks or proxy statements, raising concerns under NYSE director independence rules.
  • The unions also point to governance risks amid Synchrony’s $3.7 billion healthcare lending business via CareCredit and potential service quality issues at Sorenson Communications.
8 days ago
Synchrony Financial acquires Versatile Credit
·$SYF
M&A
  • Synchrony Financial has acquired Versatile Credit, a provider of consumer-financing software, to enhance its consumer financing technology and accelerate its technology roadmap.
  • The deal leverages Versatile’s multi-source financing platform, offering detailed reporting and back-end merchant system integration to boost merchant sales and expand consumer credit availability.
  • Synchrony will retain Versatile’s business model and management and expects the acquisition to have minimal impact on earnings per share.
  • The acquisition aligns with Synchrony’s focus on innovation across its retail card, payment solutions, and CareCredit segments.
Oct 2, 2025, 2:44 AM
Synchrony completes acquisition of Versatile Credit
·$SYF
M&A
  • Synchrony acquires Versatile Credit from PSG; terms undisclosed.
  • Versatile Credit offers a consumer-financing software platform connecting merchants, lenders, and consumers through online, in-store, and mobile POS solutions.
  • Since PSG’s 2023 investment, Versatile Credit expanded its blue-chip customer base in elective medical, home improvement, and retail sectors and strengthened its leadership team.
Oct 1, 2025, 9:00 PM
Synchrony Financial sees BNPL displacing credit card usage
·$SYF
  • BNPL spending in the U.S. totals nearly $100 billion, though outstanding BNPL debt remains a small fraction of this volume.
  • BNPL is replacing credit cards primarily for consumers with mid-prime credit scores and limited open-to-buy on their cards.
  • TD Cowen rates Synchrony Financial and Capital One as top picks on the card side, and holds a buy on Affirm among BNPL providers.
  • The firm is neutral on American Express, citing sideways spending trends and increased competition in the high-end consumer segment.
Aug 13, 2025, 11:39 AM
Synchrony Financial to acquire Lowe’s commercial credit card portfolio
·$SYF
M&A
  • On August 4, 2025, Synchrony entered agreements to acquire Lowe’s commercial co-branded credit card portfolio covering approximately $0.8 billion of loan receivables
  • Synchrony will become the issuer of this portfolio and expects to record a reserve of up to $50 million in Q3 2025
  • The acquisition’s completion and launch of the commercial co-branded program are expected in the first half of 2026, subject to customary closing conditions
Aug 5, 2025, 12:00 AM
Synchrony Financial enters underwriting agreement for $1 billion senior notes
·$SYF
Debt Issuance
  • On July 24, 2025, Synchrony Financial agreed to issue $500 million of 5.019% Fixed-to-Floating Rate Senior Notes due 2029 and $500 million of 6.000% Fixed-to-Floating Rate Senior Notes due 2036 via an underwriting led by BofA Securities, Mizuho Securities USA and Wells Fargo Securities.
  • The notes will be governed by the Base Indenture dated August 11, 2014, as supplemented by the Twelfth Supplemental Indenture dated August 2, 2024 and the Fourteenth Supplemental Indenture dated July 29, 2025.
  • Delivery of the notes is expected on July 29, 2025, and they will be senior unsecured obligations with no holder call option prior to maturity.
  • A legal opinion from Sidley Austin LLP confirms the valid issuance and enforceability of the notes under the Indenture.
Jul 29, 2025, 12:00 AM