SAN FRANCISCO—Wells Fargo is seeking to sell its private-label credit card and point-of-sale financing unit as part of an ongoing strategic review of its businesses.
The banking giant has started reaching out to possible bidders, but still hasn’t made a definitive decision as to whether it will actually sell the unit, which specializes in store-branded credit cards.
Selling the private-label credit card unit would be a business reversal for the financial services group, Pymnts.com said.