Exhibit 34.1







| | KPMG LLP              
| | ----------------------
| | Aon Center            
| | Suite 5500            
| | 200 E. Randolph Street
| | Chicago, IL 60601-6436



Report
of Independent Registered Public Accounting Firm



The Board of Directors
SYNCHRONY FINANCIAL:



We have examined management’s assertion, included in the accompanying
Management’s Assessment of Compliance, that SYNCHRONY FINANCIAL (the Company) complied with the servicing criteria set forth
in Item 1122(d) of the Securities and Exchange Commission’s Regulation AB for the Synchrony Credit Card Master Note Trust asset-backed
securities transactions for which the Company acted as servicer involving private label and co-branded credit card receivables (such asset-backed
securities transactions, the “Platform”), except for servicing criteria 1122(d)(1)(iii), 1122(d)(2)(i), 1122(d)(2)(ii), 1122(d)(2)(iii),
1122(d)(2)(v), 1122(d)(2)(vi), 1122(d)(2)(vii), 1122(d)(3)(iv), 1122(d)(4)(vi), 1122(d)(4)(vii), 1122(d)(4)(viii), 1122(d)(4)(ix), 1122(d)(4)(x),
1122(d)(4)(xi), 1122(d)(4)(xii) and 1122(d)(4)(xiii), which the Company has determined are not applicable to the activities it performs
with respect to the Platform (the Servicing Criteria), as of and for the twelve months ended December 31, 2022. The Company has determined
that Servicing Criterion 1122(d)(1)(v) is applicable to the activities the Company performs with respect to the Platform only as it relates
to the conveyance of information in the monthly noteholder statements delivered to the trustee. With respect to applicable Servicing Criterion
1122(d)(4)(xv), the Company has determined that there were no activities performed during the twelve months ended December 31, 2022
with respect to the Platform because there were no occurrences of events that would require the Company to perform such activities. Appendix
B to Management’s Assessment of Compliance identifies the individual asset-backed transactions and securities defined by
management as constituting the Platform. Management is responsible for the Company’s compliance with the Servicing Criteria. Our
responsibility is to express an opinion on management’s assertion about the Company’s compliance with the Servicing Criteria
based on our examination.



Our examination was conducted in accordance with the standards of the
Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the American Institute
of Certified Public Accountants to obtain reasonable assurance and, accordingly, included examining, on a test basis, evidence about the
Company’s compliance with the Servicing Criteria and performing such other procedures as we considered necessary in the circumstances.
Our examination included testing selected asset-backed transactions and securities that comprise the Platform, testing selected servicing
activities related to the Platform, and determining whether the Company processed those selected transactions and performed those selected
activities in compliance with the Servicing Criteria. Furthermore, our procedures were limited to the selected transactions and servicing
activities performed by the Company during the period covered by this report. Our procedures were not designed to determine whether errors
may have occurred either prior to or subsequent to our tests that may have affected the balances or amounts calculated or reported by
the Company during the period covered by this report for the selected transactions or any other transactions. We believe that our examination
provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company’s compliance
with the Servicing Criteria.



We are required to be independent and to meet our other ethical responsibilities
in accordance with relevant ethical requirements relating to the examination engagement.



KPMG LLP, a Delaware limited liability
partnership and a member firm of

the KPMG global organization of independent member firms affiliated with

KPMG International Limited, a private English
company limited by guarantee.















As described in the accompanying Management’s
Assessment of Compliance, for Servicing Criterion 1122(d)(4)(iv), the Company has engaged various vendors to perform the
activities required by this Servicing Criterion. The Company has determined that none of these vendors is considered a
 “servicer” as defined in Item 1101(j) of Regulation AB, and the Company has elected to take responsibility for assessing
compliance with the Servicing Criterion applicable to each vendor as permitted by the SEC’s Compliance and Disclosure
Interpretation (C&DI) 200.06,Vendors Engaged by Servicers (C&DI 200.06). As permitted by C&DI 200.06, the Company
has asserted that it has policies and procedures in place designed to provide reasonable assurance that the vendors’
activities comply in all material respects with the Servicing Criterion applicable to each vendor. The Company is solely responsible
for determining that it meets the SEC requirements to apply C&DI 200.06 for the vendors and related Servicing Criterion as
described in its assertion, and we performed no procedures with respect to the Company’s eligibility to apply C&DI
200.06.



In our opinion, management’s assertion that the Company complied
with the aforementioned Servicing Criteria, including Servicing Criterion 1122(d)(4)(iv) for which compliance is determined based on C&DI
200.06 as described above, as of and for the twelve months ended December 31, 2022 is fairly stated, in all material respects.



/s/KPMG LLP



Chicago, Illinois
March 29, 2023





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