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Inside Arra Finance’s acquisition of Crescent Bank’s $815M auto portfolio 

Subprime lender eyes $100M monthly origination volume after integration 

Amanda Harris

Subprime auto lender Arra Finance has entered into an agreement to acquire New Orleans-based Crescent Bank’s auto business.   Under the transaction, expected to close in the third quarter, Irving, Texas-based Arra will take over servicing for Crescent’s $815 million auto loan portfolio and Crescent will retain its branches, online retail banking platforms and commercial lending […]

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