Regions Bank Drops Car Dealer Loan Program
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By Lynne Jones
Published: October 9, 2008
Regions Financial Corporation told 2,600 car dealers Thursday it will no longer make auto loans though dealdership financing programs.
Regions says the dealership loans are only a small part of the company’s business. The company says it decided to eliminate programs such as this which are not directly tied to building customer relationships. Customers can still apply for car loans through Regions Bank branches.
About 50 jobs in Birmingham are tied to Regions’ dealership loan program. Those employees will have the opportunity to be reassigned to other jobs within the company.
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