OCC Terminates Santander Bank Consent Order

Santander Bank confirmed that the Office of the Comptroller of the Currency (OCC) has terminated a consent order dating back to 2015 related to SBNA’s billing practices with regard to a legacy identity theft protection product known as “Sovereign Identity Protector.”

Santander Taps JPMorgan Vet Uehlinger as Region President

Santander Bank appointed James Uehlinger region president of its Metro New York/Northern New Jersey region.

Ridgeway Joins Santander Bank as Southwest Market Head

Santander Bank named Joanna Ridgway corporate market head of its expanding commercial banking presence in the Southwest region.

Santander Appoints Fazio to Head TMT Banking

Santander Bank appointed Laura Fazio to head its Technology, Media and Telecommunications banking business in its Commercial Banking division.

Santander Appoints Schwinn to Head ABL & Restructuring

Santander Bank appointed Brian Schwinn head of the bank’s asset-based lending and restructuring finance business in its Commercial Banking division.

Santander Adds Two Industry Veterans to Corporate/Investment Team

Jim Volkwein and Eli Chamberlain joined Santander Bank’s Corporate and Investment Banking unit in the U.S.

Devenish to Head Santander Foreign Direct Investment Biz

Wendy Devenish joined Santander Bank to head the foreign direct investment business in its commercial banking division. Devenish will be responsible for working with U.S. subsidiaries of foreign-owned companies that plan to expand their business operations in the U.S.

Santander Closes $10MM Revolver for Janel Group

Santander Bank’s asset-based lending group closed a $10 million senior secured revolving line of credit with Janel Group. The credit will be used to support the company’s growing working capital needs.

JPMorgan Agents $273MM Facility for Progress Software

Progress Software amended its credit agreement to include a $123.7 million senior secured term loan and a $150 million revolving credit facility.

Opportunities and Challenges: Asset-Based Lending in 2018

The digital world has transformed every aspect of our lives. Some of us still remember pasting photographs into albums and racing to answer the telephone mounted on the wall — picking up the receiver without knowing who was on the other end of the line. Technology has changed asset-based lending in ways no one could have predicted 20 years ago. ABF Journal contributor Hugh Larratt-Smith explores the evolving ABL landscape and evaluates the impact these changes will have in 2018.