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Target to sell credit card business to TD Bank
Minneapolis -- Target Corp. said Tuesday it will sell its $5.9 billion credit card portfolio to TD Bank Group.
The business will be sold for an amount equal to the gross value of the outstanding receivables at the time of closing, said Target; the portfolio currently has a gross value of about $5.9 billion.
TD Bank also agreed to a seven-year deal to underwrite, fund and own the retailer’s future credit card and Visa receivables in the U.S.
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Shopping guide to made-in-USA products released
LOS ANGELES — With the holiday shopping season approaching, one group has released a guide to goods produced domestically.
The Made in USA Foundation announced the latest edition of the "All-American Holiday Gift Guide," which shows readers how to buy American-made Christmas and Hannukah gifts, ornaments and cards, with sections on toys, jewelry, games and other items for men, women and children. Co-published with Made in USA Certified, the 115-page guide also includes food-related items, such as chocolates, blenders and stoves.