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BMO Harris Bank

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.

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BMO Completes Acquisition of GE's Transportation Finance Business

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

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.

Pay Plans Revisited

Far too many compensation plans are a patchwork of fixes that, in the end, make the plans more confusing and less impactful. The magazine’s F&I expert has the answer, a plan that accounts for a new market dynamic.

ADTV: BMO Moves to Flats, Sonic Tests Hybrid Process

Auto Dealer TV’s Jennifer Nebrich reports on BMO Harris Bank’s decision to eliminate dealer participation. Also this week, Sonic Automotive announces plans to test a hybrid sales and F&I process at a North Carolina dealership in July, while the industry responds to remarks made by disgraced NBA owner Donald Sterling.

Bank Eliminates Dealer Markup, Cites CFPB Guidance

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.