Tom Steyer’s bank to revise auto loan collection practices as defaults mount

Beneficial State Bank, founded by 2020 presidential candidate Tom Steyer, is updating its collections policies on the heels of 1,800 defaults by consumers nearly four years after the lender acquired Pan American’s auto unit. Lynn Marie Auzenne, chief marketing officer at Beneficial State Bank (BSB), told sister publication Auto Finance News that the bank is revamping …Read More

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