FCA Seeks to Jumpstart Operations With Purchase of Chrysler Capital

Fiat Chrysler Automobiles Group will likely move fast to acquire Santander Consumer USA’s Chrysler Capital portfolio because it will provide an instant revenue stream for the OEM and the ability to retain customer brand loyalty, said Jack Micenko, auto finance analyst at Susquehanna Financial Group. Micenko estimates the portfolio is worth a conservative $1.2 billion, […]
  • William Hoffman
  • June 14, 2018
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How Smaller Lenders Can Build Their Fraud Teams [VIDEO]

Small sized lenders may not have as many resources as bigger corporations to devote to a designated fraud department, but there are areas in which these lenders can maximize their fraud prevention. Zahid Kassem, senior vice president of fraud & dealer management at Santander Consumer USA, gave a presentation on fraud to attendees at the Auto […]
  • Matthew Wood
  • June 12, 2018
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Lenders Tackling Rising Forms of Fraud in the Auto Industry

Different forms of fraud are rising in the auto industry and are presenting lenders with challenges as fraudsters continue to grow smarter, Frank McKenna, chief fraud strategist at artificial intelligence solutions provider PointPredictive, told Auto Finance News. Using machine learning, PointPredictive ran fraud models on funded originations from 2012 through 2018 and found that the underlying […]
  • Matthew Wood
  • June 7, 2018
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FCA in Discussions to Buy Santander’s Chrysler Capital Portfolio

Fiat Chrysler Automobiles Group confirmed earlier reports that it plans to form a U.S. captive finance arm and one of the ways it may get there is by buying the Chrysler Capital portfolio from Santander Consumer USA. FCA Chief Financial Officer Richard Palmer made the announcement during an event in Italy that took place in […]
  • William Hoffman
  • June 1, 2018
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FCA Expected to Launch Captive, Despite Santander’s Efforts to Court OEM

Fiat Chrysler Automobiles Group is expected to announce the formation of a U.S. captive unit on Friday, thus diminishing volume to lending partners such as Santander Consumer USA and Ally Financial Inc., according to a Bloomberg report. The announcement is expected to be part of a larger strategic push by the OEM’s Chief Executive Sergio […]
  • William Hoffman
  • May 31, 2018
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Santander Mitigates Impound Fraud Losses in Florida

Santander Consumer USA has identified and started to mitigate millions of dollars of losses in Florida caused by impound fraud that has gone “unnoticed” in the industry, said Zahid Kassem, senior vice president of enterprise fraud and dealer management. This type of fraud occurs when an impound lot acquires collateral through bankruptcy or by way […]
  • William Hoffman
  • May 15, 2018
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