Tricolor collapse sends Fifth Third on a hunt for bad collateral
Fifth Third could face $200M in Tricolor losses
Tricolor Holdings’ chaotic collapse and potential double-pledging of autos to creditors sent Fifth Third Bancorp executives on a “house-to-house” search through its loan collateral for other discrepancies. They did find more — two, to be exact, out of 120,000 vehicles. “We’re tracking those two exceptions down,” Greg Schroeck, the bank’s chief credit officer, said during […]
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