Santander Consumer USA

PPP guidance, Santander's settlement, Wells' virus response: Top stories of the week

05/22/20

The SBA and Treasury Department release more guidance on PPP loan forgiveness; Santander Consumer reaches $550M settlement with state AGs; how Wells Fargo's tech chief is managing coronavirus response; and more from this week's most-read stories.

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Santander reaches auto loan settlement; OCC’s Otting to Step down

05/20/20

One of the biggest subprime auto lenders agreed to pay $550 million to settle predatory lending charges; the bank regulator has largely completed his goal of overhauling the Community Reinvestment Act.

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Santander Consumer reaches $550M settlement with state AGs

05/19/20

The lender will pay $65 million in restitution and forgive nearly $500 million in auto debt to settle charges that it steered subprime borrowers into risky loans.

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How the coronavirus crisis is upending auto lending

04/08/20

Closed showrooms, temporary bans on repossessions and a sudden spike in unemployment have dimmed the prospects of a sector that has boomed since the last recession.

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New Santander Consumer chief: Fiat partnership is still main focus

01/29/20

Loans made for Fiat Chrysler represented the largest chunk of Santander Consumer's lending in the fourth quarter, and Mahesh Aditya said their relationship is his top priority.

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Santander US names chief strategy officer

01/08/20

In the newly created role, Daniel Budington will be responsible for developing strategic partnerships and identifying growth opportunities.

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Santander CEO's growth plan: Challenge fintechs, emphasize global ties

12/24/19

New CEO Tim Wennes is counting on soon-to-launch digital offerings to boost consumer loans and deposits and playing up Santander's international reach in a bid to win over middle-market and corporate clients.

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Shake-up continues at Wells Fargo with poaching of Santander's CEO

12/02/19

Scott Powell, who resolved numerous regulatory problems as the head of the Spanish bank's U.S. operations, will face similar challenges at scandal-plagued Wells. As the bank's chief operating officer, Powell will report to CEO Charles Scharf, a former colleague at JPMorgan Chase.

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FirstBank to buy Santander's Puerto Rico operations for $1.1 billion

10/22/19

The deal, which is expected to close in mid-2020, would create a company with nearly $18 billion of assets and more than $14 billion of deposits.

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Santander's deposit push; HSBC’s strategic about-face

10/21/19

Santander Consumer is planning to attract online deposits via a national platform that could rival Goldman Sachs’s Marcus; HSBC is now in retrenchment mode after aiming for growth.

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