TCF Bank Tops List of CFPB Complaint Offenders

TCF Bank — having exited the auto finance space at yearend — topped the 2017 list of banks with the most complaints per $1 billion in deposits in the Consumer Financial Protection Bureau’s database, according to data compiled by LendEDU. The Minnesota-based bank topped the list for the second year in a row with 13.6 […]
  • William Hoffman
  • January 5, 2018
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TCF’s Auto Sector Exit Intensifies Profitability Concerns at Regional Banks

The announcement this week that TCF Bank will shutter its indirect auto finance unit, Gateway One Lending & Finance LLC, caps a year that has been volatile for mid-sized regional banks, according to Peter Winter, analyst at Wedbush Securities. “Most banks are surprised how long the credit cycle has lasted for the [mid-tier] bank group,” […]
  • William Hoffman
  • December 6, 2017
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Auto Declines Start to Impact Citizens’ Portfolio

Citizens Financial Group Inc. is starting to see the impact of its more disciplined, rate-focused approach to auto lending that it started earlier this year, as outstandings fell 5.7% year over year, according to the company’s third-quarter earnings report. Citizens One Auto Finance’s portfolio fell to $13.3 billion during the quarter compared with $14.1 billion […]
  • William Hoffman
  • October 23, 2017
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Citizens Financial Dials Back Chrysler Capital Purchases

Citizens Financial Group Inc. is dialing back the volume of auto loans it purchases from Santander Consumer USA, while increasing the “organic” loans its Citizens One Auto Finance unit originates itself, which now account for about 80% of the bank’s auto volume. “We purchased $2 billion in auto last year,” said Bruce Van Saun, chairman and chief […]
  • Jim Henry
  • July 27, 2015
  • 1

Citizens Renames Auto Group, Will Inch Down Credit in ’15

Citizens Financial Group, Inc.’s auto finance group will now be named Citizens One Auto Finance, the bank announced last week. Previously known as RBS Citizens Auto Finance, the new name is part of a planned rebranding and “broader transition for the company,” according to a press release. That transition includes a move down the credit spectrum in 2015, […]
  • Larissa Padden
  • February 9, 2015
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Citizens: Service and Relationships Matter Most

In today’s “intense” auto finance market, a solid sales force can help a company stand out from the competition, Citizens Financial Group auto unit President Brandon Coughlin told AFN. Experience always helps, especially when expanding into new territory, “but at the end of the day, it really comes down to our main strategy,” he said. “Does that salesperson […]
  • Cody Lyon
  • November 26, 2014
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