Santander ramps up reserves by $2.5B | Auto Finance News | Auto Finance News

Santander ramps up reserves by $2.5B

via Santander Consumer USA website

Santander Consumer USA has increased its allowance for credit losses by $2.5 billion due to Day 1 CECL impacts and additional reserves for COVID-19, the company announced in its first-quarter earnings report today. SCUSA postponed its earnings conference call this morning due to technical difficulties and has not yet rescheduled. The Dallas-based subprime lender increased […]

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