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BOSTON and DALLAS, Feb. 4, 2021 /PRNewswire/ Santander Holdings USA, Inc. ( SHUSA ) and Santander Consumer USA Holdings Inc. (NYSE:SC) ( SC ), today confirmed that the Board of Governors of the Federal Reserve System has authorized the Federal Reserve Bank of Boston to terminate its Written Agreement dated March 21, 2017, with SHUSA and SC s wholly-owned subsidiary, Santander Consumer USA Inc.
Since 2015, SHUSA and SC have made significant progress in strengthening board oversight, compliance, risk management, capital planning and liquidity risk management. The 2017 Written Agreement required Santander to strengthen risk management across Santander US, and its termination demonstrates the progress Santander has made in recent years. The enhancements made to SHUSA s and SC s risk programs in response to the 2017 Written Agreement are now fully embedded in Santander s US operations.
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DALLAS, Feb. 3, 2021 /PRNewswire/ Santander Consumer USA Holdings Inc. (NYSE: SC) ( SC or the Company ) today announced net income for the fourth quarter ended December 31, 2020 ( Q4 2020 ) of $521 million, or $1.70 per diluted common share. Net income for the full year 2020 ( 2020 ) was $911 million, or $2.87 per diluted common share.
As a result of the Federal Reserve Board s extended interim policy (the Interim Policy ), SC is prohibited from paying a dividend in the first quarter of 2021. Although SC s standalone income is sufficient, SC consolidates into SHUSA s capital plan and, therefore, the calculation of the restrictions uses SHUSA s average trailing four quarters of income, which is insufficient to permit dividends under the Interim Policy. SHUSA has requested certain exceptions to the Interim Policy, however, the timing and outcome of the request is uncertain.
Operator
Good morning, and welcome to the Santander Consumer USA Holdings Fourth Quarter and Full-Year 2020 Earnings Conference Call. [Operator Instructions] Following today s presentation, the floor will be open for your questions. [Operator Instructions]
It is now my pleasure to introduce your host, Evan Black, Head of Investor Relations. Evan, the floor is yours.
Evan Black
Head of Investor Relations
Thanks, Tracy. Good morning, everyone, and thanks for joining the call today. On the call, we have our CEO, Mahesh Aditya; and our CFO, Fahmi Karam.
During the call, we ll make some forward-looking statements. Please refer to our SEC filings and risk factors regarding those statements. We ll also reference some non-GAAP financial measures and a reconciliation of those measures to US GAAP was included in the earnings materials issued earlier this morning.
Santander Consumer USA Partners with Operation HOPE to Provide Financial Wellness Program for Employees
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DALLAS, Feb. 2, 2021 /PRNewswire/ Santander Consumer USA Holdings Inc. (NYSE: SC) ( SC and the Company ), has partnered with Operation HOPE, Inc. to offer HOPE Inside, an award-winning financial wellness program, to all SC employees. HOPE Inside provides a series of financial workshops and one-on-one personal coaching sessions designed to educate and transform thinking when it comes to making decisions about money, building wealth and working toward financial independence. Diversity, equity and inclusion are major priorities for SC, said Mahesh Aditya, President and CEO of SC. As we explore what it truly means to be an inclusive company, we know that when people are unable to save or invest, or don t have healthy habits surrounding the finer points of financial drivers like credit, lending and interest rates, th
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DALLAS, Jan. 20, 2021 /PRNewswire/ Santander Consumer USA Holdings Inc. (NYSE: SC) ( SC ) announces the release date of its fourth quarter and full year 2020 financial results for Wednesday, February 3, 2021, at 9:00 a.m. Eastern Time.
Conference Call Information
SC will host a conference call and webcast to discuss its fourth quarter and full year results and other general matters at 9:00 a.m. Eastern Time on Wednesday, February 3, 2021. The conference call will be accessible by dialing 1-866-548-4713 (U.S. domestic), or 1-323-794-2093 (international), conference ID 2596790. Please join 10 minutes prior to the start of the call. The conference call will also be accessible via live audio webcast through the Investor Relations section of SC s corporate website at