Santander Consumer USA

Santander Bank names longtime MUFG Union executive its CEO

07/24/19

The hiring of Tim Wennes was one a series of leadership changes announced Wednesday by the holding company for the bank and the auto lender Santander Consumer.

[more]

Santander Consumer will pay $60M to remain a Fiat Chrysler partner

07/01/19

The agreement is expected to solidify a lending partnership whose status had been in doubt for more than a year. But it raised as many questions as it answered.

[more]

Santander’s U.S. units not out of woods yet

06/03/19

Santander Bank and Santander Consumer USA have put many problems behind them in recent years under CEO Scott Powell, but he still has a Federal Reserve enforcement action to resolve and is negotiating with Fiat Chrysler to preserve a crucial auto lending relationship.

[more]

Santander Consumer reports 14% jump in auto loans

04/30/19

The surge in originations during the first quarter more than offset a decline in demand for new leases.

[more]

Auto lenders upbeat amid fears credit cycle will sputter

02/01/19

Executives from Ally Financial and Santander Consumer USA gave rosy outlooks this week about 2019 consumer trends, while other banks that rely less heavily on car lending offered more cautious appraisals.

[more]

CFPB fines Santander Consumer for auto add-on product

11/20/18

The agency alleges the subprime auto lender violated consumer finance laws by misrepresenting the level of guaranteed insurance protection.

[more]

Santander Consumer's 3Q results show company at a crossroad

10/31/18

The Dallas subprime auto lender seems to be reaching the bottom of its lingering supply of accounting issues, yet its origination of more loans through Fiat Chrysler underlined questions about the future of its relationship with the big carmaker.

[more]

Has Santander Consumer turned the corner on credit?

07/25/18

As the company boosts originations to subprime and other borrowers, it remains to be seen if the improvements in asset quality will continue. A similar question mark is hanging over many consumer lenders these days.

[more]

Provision for loan losses plummets at Santander Consumer

07/25/18

That improvement and loan growth made up for a lower margin in a more profitable second quarter, but the loan growth relied heavily on the subprime lender's partnership with Fiat Chrysler that could be ending.

[more]

Santander Consumer lending practices draw fire from AFL-CIO

06/12/18

The largest U.S. labor federation is calling on Santander Consumer USA to end its practice of allowing car dealers to add interest to a vehicle loan unrelated to the borrower's creditworthiness.

[more]