DENVER - (12/24/04) -- Centrix Financial LLC said it plansto expand outside it core business of insuring subprime auto loansthrough credit unions and start marketing subprime loans directlyto consumers. Centrix plans to market the service, which willprovide subprime borrowers with direct links to area auto dealers,online. The company plans to hire add as many as 400 employees tothe 1,000 it has now to facilitate the expansion.
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Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.
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The parent company of Heartland Bank and Trust plans to acquire a smaller bank based in Carlinville, Illinois. The acquisition would give the buyer added heft in Central Illinois, as well as the Chicago and St. Louis metro areas.
October 20 -
Six trade groups warned the administration layoffs and funding freezes could dampen lending, threatening the administration's goal of economic growth.
October 20 -
The Boston-based bank is the second bank in three months to face pressure to sell by the activist investor group HoldCo Asset Management.
October 20 -
Comptroller of the Currency Jonathan Gould said in an interview with American Banker that his agency is looking at whether its own internal guidance may have contributed to a climate where banks feel the need to "cite everything" to avoid supervisory penalties.
October 20 -
AlumniFi, the digital banking arm of Michigan State University's official credit union, is now an official bank partner for the NCAA's Big East conference.
October 20