In a realignment of its consumer finance operations, National City Corp. of Cleveland said Friday that it will close 69 retail loan stores, get out of automobile leasing, and consolidate its wholesale mortgage origination business into a subsidiary.

The banking company said it expects to record pretax fourth-quarter charges of between $43 million and $46 million to cover severance and asset writedowns, including lease residual values and goodwill.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.