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December 23, 2015 - Industry News

GE Selling Hyundai Capital Shares to Hyundai, Kia

GE announced today that it has signed an agreement to sell its 23.3% stake in Hyundai Capital Services to Hyundai Motor Co. and Kia Motors. The announcement comes less than a month after it unloaded its transportation business unit to BMO Financial Group.

Tags: BMO Harris Bank, GE Capital Services, Hyundai, Kia Motors America

December 3, 2015 - Industry News

BMO Completes Acquisition of GE's Transportation Finance Business

Photo courtesy of BMO Harris Bank.

The acquisition comes more than two months after BMO Harris Bank informed dealers it was exiting 12 states to refocus its indirect auto business.

Tags: BMO Harris Bank, Consumer Financial Protection Bureau, General Electric, lenders

October 1, 2015 - Industry News

BMO Harris Bank’s Auto Business Exiting 12 States

The Chicago-based bank notified dealers in approximately 12 states that it’s refocusing its indirect auto business to its core market states, including Illinois, Wisconsin, Indiana, Minnesota, Kansas, Missouri, Arizona and Florida.

Tags: BMO Harris Bank, CFPB, dealer markups, dealer participation plans, General Electric

April 24, 2014 - Industry News

Bank Eliminates Dealer Markup, Cites CFPB Guidance

Photo via Flickr. 

Chicago-based BMO Harris Bank issued a notice to its dealer customers this week, stating that it has eliminated dealer markups on indirect auto loans. The policy went into effect Thursday.

Tags: Auto Loans, BMO Harris Bank, CFPB, compliance, Consumer Financial Protection Bureau, Finance, flats

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