Truist Financial to sell $5.5B auto loan portfolio
Truist Financial agreed to sell $5.5 billion in auto loans to exit nearprime lending. The bank aims to overhaul operations and divest noncore businesses for growth.
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Truist Financial Corp agreed to sell $5.5B in auto loans on Tuesday afternoon, exiting near-prime lending. CEO Mike Lyons is steering a broad overhaul at the United States lender.
