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US Bank To Acquire Document Custodian Business From Ally Bank

Tuesday, April 15, 2014 - 7:01 AMAlly Bank - Details
I didn't know Ally Bank had a document custodian business. Well, it won't have it much longer. According to the BBR news:
US Bancorp (USB) has announced that its lead bank, US Bank National Association, has entered into a definitive agreement to purchase the document custodian business of Ally Bank.
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Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,634
1. Tuesday, April 15, 2014 - 8:10 AM
As a document custodian, U.S. Bank stores and safeguards a wide array of collateral loan files, including commercial and residential mortgages, equipment leases, home equity and improvement loans and vehicle loans and leases.

Ally has a huge amount of vehicle loan documents...

Ally Financial came in first place on the 2013 Big Wheels Report list of top auto finance companies. The annual report, issued by Auto Finance News, ranks auto finance companies by the amount of finance contracts and leases outstanding each year.

Ally Ranked First On List of Top Auto Finance Companies - May 23, 2013 | Ally Financial
ShorebreakShorebreak2,686 posts since
Apr 6, 2010
Rep Points: 14,551