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Synchrony, Sam's Club Extend Strategic Partnership

Synchrony (SYF) announced an extension of its strategic partnership with Sam's Club, a segment of Walmart Inc. (WMT), to continue offering Club members enhanced financing options through the Sam's Club-branded credit cards.

As part of the extension, Synchrony will continue to manage and service the credit card programs for Sam's Club members across the retailer's nearly 600 clubs.

Synchrony also announced it has reached agreement on the sale of the Walmart loan portfolio currently serviced by Synchrony. The portfolio is expected to transfer late in the third quarter or early in the fourth quarter of 2019.

In addition, Walmart has agreed to dismiss its lawsuit against Synchrony.

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