Wells Fargo To Issue And Service Dillard's Credit Cards

(RTTNews) - Financial services company Wells Fargo & Co.(WFC) said it has agreed to fund, issue and service Dillard's, Inc.'s (DDS) branded private label and co-brand credit cards. Wells Fargo will also manage Dillard's. cardholder loyalty program.

Financial terms of this 10-year agreement are not disclosed. The deal is expected to become operational in the fourth quarter of 2014.

In connection with the agreement Greenhill & Co. and First Annapolis Consulting, Inc. served as financial advisors and Simpson Thacher & Bartlett served as legal counsel to Dillard's.