Scott Powell, the CEO of Santander Holdings USA, has spent years contending with a host of regulatory problems. He outlined a long-range vision that includes a branch-focused retail push and possible acquisitions.
Santander Bank said Wednesday that the OCC had terminated a 2015 consent order related to an identity protection product. It is one of several regulatory headaches the bank and its parent company have resolved lately.
The Federal Reserve had ordered improvements in compliance, board oversight, risk management, capital planning and liquidity risk management that spanned multiple subsidiaries.
The Dallas auto lender might lose as much as one-third of its business if it severs ties with the automaker, raising fresh questions about whether its parent company will buy out shareholders and take full ownership.