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TD Bank completes deal to buy Nordstrom’s credit-card portfolio
TORONTO – TD Bank said Thursday that is has completed its buyout of the Visa and private credit offerings of American retailer Nordstrom.
The bank said the credit portofolio is worth around $2.2 billion.
TD Bank will now be the issuer of all of Nordstrom’s branded credit cards, including its Visa cards, as part of a separate long-term agreement.
Nordstrom will still be responsible for all customer-facing aspects of the credit cards.
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