Santander Holdings USA, Inc. (NYSE:SOV-C) Files An 8-K Other Events

Santander Holdings USA, Inc. (NYSE:SOV-C) Files An 8-K Other Events
Item 8.01 Other Events

On March 21, 2017, Santander Holdings USA, Inc. (the “Company”) and its majority-owned subsidiary Santander Consumer USA Inc. (“SC”) 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 was required to enhance its compliance risk management program, SC’s Board and management were required to enhance their oversight of SC’s risk management program, and the Company was required to enhance, among other matters, its Board oversight of SC’s management and operations. A copy of the Written Agreement was filed as Exhibit 99.1 to the Company’s Form 8-K dated March 23, 2017, and filed with the United States Securities and Exchange Commission on March 24, 2017.

On February 4, 2021, the Reserve Bank announced the termination of the Written Agreement, and the Company issued a press release announcing that termination. A copy of that press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

99.1    Press Release dated February 4, 2021

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Santander Holdings USA, Inc. Exhibit
EX-99.1 2 d106425dex991.htm EX-99.1 EX-99.1 Exhibit 99.1   Santander Holdings USA,…
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