Synchrony Bank is owned by Synchrony Financial, a publicly traded American consumer financial services company listed on the New York Stock Exchange under the ticker symbol SYF.
Synchrony Bank is a wholly owned subsidiary of Synchrony Financial (NYSE: SYF), headquartered in Stamford, Connecticut. Brian Doubles serves as President and CEO. The company serves approximately 70 million customers, manages $100.2 billion in loan receivables, and is the largest provider of private label credit cards in the United States. It was spun off from General Electric in 2014.
Synchrony Financial was formerly known as GE Capital Retail Bank, a division of General Electric’s financial arm. GE spun it off as an independent company and took it public in July 2014. The company is headquartered in Stamford, Connecticut, with operations spanning retail, health, auto, and home specialty financing across the United States.
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Who Owns Synchrony Bank?
Synchrony Bank is 100% owned by Synchrony Financial, which is itself a publicly traded company. As a public company, Synchrony Financial is owned by its shareholders including large institutional investors like Vanguard, BlackRock, and State Street, as well as individual retail investors.
No single entity controls a majority stake. Synchrony Financial operates independently with no parent company or corporate owner above it. The company is incorporated in Delaware and regulated as a bank holding company by the Federal Reserve and the FDIC.
Brian Doubles has served as President and CEO since 2021. He leads a company that manages financing programs for hundreds of thousands of retail partners, providers, and small businesses across the US economy.
What Does Synchrony Bank Do?
Synchrony Bank specializes in consumer financing, primarily through private label credit cards, co-branded credit cards, and installment loans issued at the point of sale through retail and healthcare partners.
When you apply for a store credit card at a retailer like Lowe’s, Amazon, Sam’s Club, or Gap, the card is typically issued and managed by Synchrony Bank even though it carries the retailer’s branding. Synchrony handles the application, underwriting, servicing, and collections on behalf of the partner.
Beyond retail cards, Synchrony offers high-yield savings accounts, certificates of deposit, and general purpose credit cards like the Synchrony Premier World Mastercard directly to consumers. Its deposit products fund the lending operations and offer competitive interest rates to savers.
What Is the History of Synchrony Bank?
Synchrony Bank traces its roots to GE Capital Retail Bank, which was General Electric’s consumer finance division. For decades, it operated as the hidden engine behind store credit cards at major US retailers.
In 2014, as GE moved to divest most of its financial assets and refocus on industrial businesses, it spun off GE Capital Retail Finance as an independent company named Synchrony Financial. The company launched its IPO on the New York Stock Exchange in July 2014.
Since independence, Synchrony has grown its partner network, expanded into health and wellness financing through its CareCredit brand, and added auto and home specialty financing divisions. It also acquired a portfolio of healthcare financing assets in 2025 that deepened its presence in roofing, HVAC, and cosmetic and dental sectors.
Synchrony Bank vs Comenity vs Alliance Data vs Capital One: How Do They Compare?
Synchrony is the largest private label credit card issuer in the United States by outstanding balances, ahead of Comenity Bank (owned by Bread Financial) and Alliance Data Systems (also now Bread Financial). Capital One, while primarily a general purpose card issuer, also competes in the co-branded retail card market.
Synchrony’s scale, with $100.2 billion in loan receivables and 70 million customers, gives it significant advantages in data analytics, risk modeling, and partner negotiation. Its five operating platforms covering home, auto, health, diversified and value, and lifestyle and leisure segments allow it to serve a broad range of consumer financing needs.
The main consumer criticism of Synchrony, shared with other private label issuers, involves deferred interest promotions. If a promotional balance is not paid in full before the promotional period ends, all accrued interest becomes immediately due. Consumers should read the terms of any promotional financing carefully before accepting it.
Is Synchrony Bank FDIC Insured?
Yes. Synchrony Bank is a federally chartered savings institution and its deposits are insured by the FDIC up to the standard limit of $250,000 per depositor, per ownership category. This protection covers savings accounts and CDs held directly with Synchrony Bank.
Credit card balances are debt obligations, not deposits, and are not covered by FDIC insurance. The FDIC insurance applies only to money you deposit with the bank, not to credit you borrow from it.
Frequently Asked Questions
Is Synchrony Bank the same as GE Capital?
Synchrony Bank is the direct successor to GE Capital Retail Bank. When General Electric spun off its consumer finance division in 2014, the entity became Synchrony Financial and Synchrony Bank. GE Capital no longer exists as a major financial services entity. Synchrony has operated fully independently of GE since its 2014 IPO.
Who is the CEO of Synchrony Bank?
Brian Doubles is the President and CEO of Synchrony Financial, the parent company of Synchrony Bank. He has served in this role since 2021. Synchrony Financial is headquartered in Stamford, Connecticut, and trades on the NYSE under the ticker SYF.
What stores use Synchrony Bank for credit cards?
Synchrony Bank issues credit cards for a large number of major US retailers including Lowe’s, Amazon Store Card, Sam’s Club, Gap, Old Navy, Banana Republic, PayPal Credit, Rooms To Go, Ashley Furniture, and many healthcare providers through its CareCredit brand. If you have a store credit card, there is a good chance it is issued and serviced by Synchrony Bank even if the card carries a retailer’s name.
Is Synchrony Bank a real bank?
Yes. Synchrony Bank is a federally chartered savings institution regulated by the Office of the Comptroller of the Currency and the Federal Reserve. Its deposits are FDIC insured. It is a legitimate and fully regulated US bank, not a financial technology company or intermediary.
I am Jack Neel, a mechanical engineer, researcher, and writer. I created this website to share my knowledge about different brands and products with you. I research the manufacturers behind the brands and provide you with the information you need to make smart buying decisions.