Bank of America to buy KeyCorp auto loan portfolio

Newswire

NEW YORK, March 28 (Reuters) - Bank of America Corp. , the No. 3 U.S. bank, on Monday said it agreed to buy KeyCorp's prime indirect automobile loan portfolio to expand its lending presence in the U.S. Northeast and Midwest. Terms were not disclosed. The $990 million portfolio is spread among 89,000 customers, Bank of America said. KeyCorp had announced plans in January to exit the business. It will continue to service accounts on an interim basis and notify customers before transfering ...

Premium Content (PAID Subscription Required)

"Bank of America to buy KeyCorp auto loan portfolio" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!


For WardsAuto.com pricing and subscription information please contact
Amber McLincha by email: amclincha@wardsauto.com or phone: (248) 799-2622
 

Current subscribers, please login or CLICK for support information.

Sponsored Introduction Continue on to (or wait seconds) ×