Td Bank Credit Card Agreements

Posted by on Apr 13, 2021 in Uncategorized | 0 comments

With respect to the loyalty agreement, there can be no assurance that TD will achieve the expected benefits or results; actual results may differ materially from those expressed in the forward-looking statements. Cost, process and scheduling assumptions for the introduction of TD experience-based maps are examples of key assumptions TD made in forward-looking statements. Minneapolis-(BUSINESS WIRE)-Target Corporation (NYSE:TGT) announced today that it has entered into an agreement to sell its entire credit card portfolio to TD Bank Group (TSX and NYSE: TD) up to the gross value of outstanding receivables (“par”) at closing. Target`s portfolio currently has a gross value of approximately $5.9 billion. In addition, the two companies have entered into a seven-year program agreement under which TD will pay, finance and possess future Target Visa credit card applications in the United States. As part of the program agreement, TD will monitor risk management policies and compliance with legislation, and Target will continue to perform account service functions. This transaction, subject to administrative approval and other customary closing conditions, is expected to close in the first half of 2013. “Our agreement with Target will significantly strengthen our presence in the North American credit card industry and establish TD as a key player in this area,” said Ed Clark, Group President and CEO of TD Bank Group. “We are pleased to work with Target`s strong team and the leading private label. This asset acquisition fits perfectly into our strategy, fits our risk profile and is an excellent complement to our high-growth credit card business.¬†As part of Target`s seven-year program agreement for U.S. credit card operations, Target will maintain the current deep integration between its financial services business and retail. The deal does not affect Target`s 5% redcard rewards program.

Target team members will continue to provide all target credit account and target credit account services. The portfolio and program sales agreement must have minimal impact on current cardholders, guests and Target team members who support financial products and services. TORONTO, November 26, 2018 /CNW/ – The Bank of Toronto-Dominion (“TD”) and Air Canada today announced the conclusion of a long-term loyalty agreement (the “Loyalty Agreement”). Under the loyalty agreement, TD will become the primary credit card issuer for Air Canada`s new loyalty program when it is introduced from 2020 to 2030.