The Great Recession a decade ago left the finances of millions of Americans in tatters, but times were good for CardWorks founder
“We’ve been able to ride very successfully through the economics swings and really take advantage of opportunities when they present themselves,” he said Wednesday on a conference call after Ally Financial Inc. agreed to buy his firm, a credit-card lender focused on people with patchy credit.
Today, more than three decades after founding the company, he’s poised to cash out as a billionaire. Ally, the biggest U.S. auto lender, plans to acquire CardWorks for $2.65 ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.