Equitable Bank Takes Over Guarantee Duties for Eagle Credit Card Trust
Following the acquisition of President's Choice Bank from Loblaw Companies, Equitable Bank has stepped in as the new performance guarantor for the Eagle Credit Card Trust. The transition, effective July 2, 2026, shifts all previous obligations held by Loblaw under existing pooling and co-ownership agreements directly to the Canadian chartered bank.
This move marks the formal integration of the credit card portfolio into the Equitable Bank ecosystem. As the new parent company, Equitable Bank assumes the responsibility for the servicing and seller obligations previously managed by Loblaw. These agreements, dating back to March 2006, govern the revolving pool of credit card receivables linked to President's Choice Financial MasterCard products.
President's Choice Bank officially became a wholly-owned subsidiary of Equitable Bank on July 1, 2026. By securing these guarantees, the bank ensures continuity for the trust, which relies on the receivables generated by the PC Financial cardholder base to maintain its structured financial operations.
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