Bank of America to buy KeyCorp auto loan portfolio


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 ...

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