Chase to quit N.Y. auto leasing market on July 1

Newswire

NEW YORK, June 25 (Reuters) - An auto financing unit of J.P. Morgan Chase & Co. said on Wednesday it will no longer provide auto leases in New York as of July 1, citing a law that holds leasing companies liable for auto accidents. Chase Manhattan Automotive Finance Corporation, which is the fourth largest auto leasing company in New York, had said in April it would exit the Empire State market unless legislators in Albany changed the law and eliminated leasing companys' liability. ...

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