EOT Losses at US Bancorp Expected to Stabalize
Expect end-of-term auto leasing losses to stabalize, or dip slightly, in 2009 at US Bancorp, sources tell me. Apparently, that’s the bank’s internal forecast.
Last year, US Bancorp took $250 million of EOT losses. US Bancorp is the nation’s 17th-largest auto financier, according to our Auto Finance Big Wheels report. It ended 2007 with about $6 billion of auto leases outstanding.
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