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February 04, 2021
Federal Reserve Board announces termination of enforcement action with Santander Holdings USA, Inc. and Santander Consumer USA, Inc.
For release at 11:30 a.m. EST
The Federal Reserve Board on Thursday announced the termination of the enforcement action listed below:
Santander Holdings USA, Inc., Boston, Massachusetts and Santander Consumer USA, Inc., Dallas, TexasWritten Agreement dated March 21, 2017 (PDF)Terminated February 2, 2021
Additional enforcement actions can be searched for here.
For media inquiries, call 202-452-2955.
Last Update: February 04, 2021
Blog
Blog
Blog
Blog
10 Dec, 2020 Author Jennifer LaidlawZain Tariq
The American dream has not come true for European banks.
Unable to generate the level of profits enjoyed by their U.S. rivals, some of Europe s large lenders are exiting or scaling back their stateside retail operations. Spain s Banco Bilbao Vizcaya Argentaria SA is selling BBVA USA Bancshares Inc. and BBVA USA to PNC Financial Services Group Inc., while London-based HSBC Holdings PLC is reportedly considering selling its U.S. retail business. It already outlined a plan in February to reduce the network by a third.
Analysts question the European companies ability to generate cost savings and the extent of their local knowledge.