Tom Steyer's bank to revise auto loan collection practices | Auto Finance News | Auto Finance News

Tom Steyer’s bank to revise auto loan collection practices

Presidential candidate Tom Steyer founded Beneficial State Bank in 2007. Photographer: Martina Albertazzi/Bloomberg © 2019 Bloomberg Finance LP

Beneficial State Bank, founded by 2020 presidential candidate Tom Steyer, is updating its collections policies on the heels of 1,800 defaults by consumers nearly four years after the lender acquired Pan American’s auto unit. Lynn Marie Auzenne, chief marketing officer at Beneficial State Bank (BSB), told Auto Finance News that the bank is always in […]

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