To accommodate strong growth in its auto dealer finance division, U.S. Bancorp plans to install a $1 million computer system.

Over the past year, the Bellevue, Wash.-based unit has nearly doubled its monthly automobile loans, to $65 million. Lending is expected to grow another 20% this year, forcing the division to buy new computers, said Michael Luiten, senior vice president of the unit.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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