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The firm also issues commercial paper and other debt instruments on Ford's behalf. Ford Credit also owns Lincoln Automotive Financial Services, the arm that finances Lincoln vehicles. Ford earned $2.63 billion EBIT with its Ford Credit segment in 2018, up from $2.31 billion in 2017. 2018 was the segment's highest full-year EBT in eight years.
[30] [31] To satisfy federal anti-trust concerns, Great Western was required to sell 2 offices to State Mutual Savings (a subsidiary of Far West Financial Corp.) and 1 office to Home Federal Savings of San Diego. [32] The company received some financial assistance in the acquisition from the FSLIC. [33]
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Hankey took over his father's Ford dealership in 1972, and built the Hankey Group, with its main business being Westlake Financial Services, [5] which makes subprime car loans [4] [6] at high interest. The company was reported to repossess about 250 cars a day in 2015. [2]
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Ford lost their Kia interest to Hyundai in 1998 after the 1997 Asian financial crisis. ... In the Group B era, Ford achieved success with Ford RS200.
In January 2010, the company sold its Refund Anticipation Loan and Refund Transfer business to Santa Barbara Tax Products Group for $10 million. [5] In April 2010, Gerald J. Ford bought a 91% stake in the company for $500 million. [6] [7] On December 1, 2012, the bank was acquired by MUFG Union Bank for $1.5 billion. [8]