Company Overview of Santander Consumer USA Holdings Inc.
Santander Consumer USA Holdings Inc., a specialized consumer finance company, provides vehicle finance and third-party servicing in the United States. The company’s vehicle finance products and services include retail installment contracts, vehicle leases, and dealer loans. It also offers financial products and services related to motorcycles, RVs, and marine vehicles; originates vehicle loans through a Web-based direct lending program; purchases vehicle retail installment contracts from other lenders; and services automobile, and recreational and marine vehicle portfolios for other lenders. Santander Consumer USA Holdings Inc. was founded in 1995 and is headquartered in Dallas, Texas. Santa...
1601 Elm Street
Dallas, TX 75201
Founded in 1995
Key Executives for Santander Consumer USA Holdings Inc.
Chief Executive Officer, President, Director and Member of Executive Committee
Total Annual Compensation: $1.8M
Chief Financial Officer
Total Annual Compensation: $32.5K
Chief Operating Officer
Total Annual Compensation: $927.4K
Chief Risk Officer
Total Annual Compensation: $554.1K
Chief Legal Officer and Secretary
Total Annual Compensation: $478.6K
Compensation as of Fiscal Year 2015.
Santander Consumer USA Holdings Inc. Key Developments
Santander Consumer USA Holdings Inc. Not In Compliance With NYSE's Continued Listing Requirements
Aug 16 16
Santander Consumer USA Holdings Inc. (the "Company") will be delayed in the filing of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2016 (the "Form 10-Q") beyond the August 15, 2016 extended filing date. As previously disclosed by the Company in its Form 12b-25 filed with the Securities and Exchange Commission (the "SEC") on August 9, 2016, the Company is in the pre-filing submission process with the SEC's Office of the Chief Accountant, regarding the Company's accounting treatment for consideration of net discount in estimating the allowance for credit losses. The resolution of this and other accounting matters disclosed in the Form 12b-25 is expected to impact prior period financial statements. The Company will file the Form 10-Q as soon as possible. The Company has reviewed all critical relationships and does not foresee a material interruption in or change to normal business activities related to the delayed filing. In addition, the aforementioned accounting matters relate only to non-cash items in our financial statements. If the outcome of the pre-filing submission process is consistent with the Company's proposed accounting treatment, the Company expects to file its Form 10-Q immediately. The Company informed the New York Stock Exchange ("NYSE") on August 15, 2016, that the Company was not in compliance with NYSE's continued listing requirements under the timely filing criteria outlined in Section 802.01E of the NYSE Listed Company Manual as a result of the Company's failure to timely file its Form 10-Q. The Company will have six months, from August 15, 2016, to file its Form 10-Q with the SEC. The Company can regain compliance with the NYSE listing standards at any time prior to such date by filing the Form 10-Q with the SEC. If the Company fails to file its Form 10-Q prior to such date, then the NYSE may grant, at its discretion, a further extension of up to six additional months, depending on the specific circumstances.
HSBC Finance Resolves Illegal Service Member Car Repossessions Claims
Aug 10 16
HSBC Finance Corp. has agreed to pay $434,500 to settle allegations that it illegally repossessed 75 cars owned by military service members. An investigation by the U.S. Department of Justice has revealed that the company conducted repossessions without getting the necessary court orders even as its own records suggested that a borrower could be a service member. The settlement covers repossessions between 2008 and 2010. HSBC sold its car lending operations and assets to Santander Consumer USA Inc., which settled similar charges in February 2015. Most of the service members covered by the HSBC settlement received partial compensation through the settlement with Santander Consumer USA. HSBC will pay $5,500 each to those who were partially compensated under the Santander Consumer USA settlement and $11,000 to those who did not receive any payment.
Santander Consumer USA Holdings Inc. announced delayed 10-Q filing
Aug 9 16
On 08/09/2016, Santander Consumer USA Holdings Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
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