UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01. | Other Events. |
On February 4, 2021, the Federal Reserve Bank of Boston (“FRBB”) announced that the Written Agreement (“Written Agreement”) between the FRBB, Santander Consumer USA Holdings Inc.’s (the “Company”), wholly-owned subsidiary, Santander Consumer USA Inc., and the Company’s majority shareholder, Santander Holdings USA, Inc. entered into on March 21, 2017, has been terminated.
Under the terms of the Written Agreement, the Company agreed to take certain actions that were designed to enhance board oversight and the Company’s compliance risk management program. Termination of the Written Agreement demonstrates the improvements the Company has made to its board oversight and compliance and risk management program.
A copy of the Written Agreement was filed as Exhibit 99.1 to the Company’s Form 8-K dated March 21, 2017, and filed with the United States Securities and Exchange Commission on March 24, 2017.
A copy of the Company’s press release relating to the termination of the Written Agreement is filed as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit |
Description | |
99.1 | Press Release of Santander Consumer USA Holdings Inc., dated February 4, 2021. | |
104 | Cover page formatted as Inline XBRL and contained in Exhibit 101 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SANTANDER CONSUMER USA HOLDINGS INC. | ||||||
Dated: February 4, 2021 |
By: | /s/ Christopher Pfirrman | ||||
Name: | Christopher Pfirrman | |||||
Title: | Chief Legal Officer |