SANTANDER CONSUMER USA HOLDINGS INC. (NYSE:SC) Files An 8-K Other Events
Item8.01. Other Events.
On March21, 2017, a wholly-owned subsidiary of Santander Consumer
USA Holdings Inc. (SC Holdings), Santander Consumer USA Inc.,
(SC) and SC Holdings majority shareholder, Santander Holdings USA
Inc. (SHUSA) entered into a written agreement (the Written
Agreement) with the Federal Reserve Bank of Boston (the Reserve
Bank).
Under the terms of the Written Agreement, SC is required to
enhance its compliance risk management program, board oversight
of risk management and senior management oversight of risk
management and SHUSA is required to enhance its oversight of SCs
management and operations.
The Written Agreement is attached hereto as Exhibit 99.1 and
incorporated herein. The preceding description of the Written
Agreement is qualified in its entirety by reference to the full
text of the Agreement.
Item9.01. Financial Statements and Exhibits.
| (d) | Exhibits |
|
ExhibitNo. |
Description |
|
| 99.1 |
Written Agreement, dated as of March21, 2017, by and between Santander Consumer USA Inc., Santander Holdings USA Inc., and the Federal Reserve Bank of Boston |
2
About SANTANDER CONSUMER USA HOLDINGS INC. (NYSE:SC)
Santander Consumer USA Holdings Inc. is the holding company for Santander Consumer USA Inc., and subsidiaries, a consumer finance company focused on vehicle finance and third party servicing. The Company’s segment, Consumer Finance, includes its vehicle financial products and services, including retail installment contracts, vehicle leases, and dealer loans, as well as financial products and services related to motorcycles, recreational vehicles (RVs), and marine vehicles. It also includes its personal loan and point-of-sale financing operations. Its primary business is the indirect origination of retail installment contracts, principally through manufacturer-franchised dealers in connection with their sale of new and used vehicles to retail consumers. It offers auto financing products and services to Fiat Chrysler Automobiles US LLC (FCA) customers and dealers under the Chrysler Capital brand. SANTANDER CONSUMER USA HOLDINGS INC. (NYSE:SC) Recent Trading Information
SANTANDER CONSUMER USA HOLDINGS INC. (NYSE:SC) closed its last trading session down -0.44 at 12.96 with 6,219,127 shares trading hands.
