Santander Holdings, the U.S. subsidiary of Spain's Santander, operates through two primary divisions: a regional retail bank and a national consumer auto finance company. Santander Bank provides standard banking products, including deposits, mortgages, and commercial loans, through a branch network in the Northeast and Mid-Atlantic and its digital platform, Openbank. Santander Consumer serves as an indirect auto lender, originating loans and leases for new and used vehicles through a nationwide network of franchised dealerships. This auto division operates across the entire credit spectrum, including the subprime market, and uses proprietary credit scoring to price risk. Santander Holdings is currently merging the auto finance unit into the regional bank. The company earns revenue by capturing the spread between interest earned on loans and interest paid on deposits, supplemented by service fees. While the bank is funded mainly by deposits, the auto business also utilizes the securitization of loan portfolios into asset-backed securities to fund operations. The company’s Corporate and Investment Banking and Wealth Management segments leverage its parent company's global footprint to serve large corporations and Latin American clients. A recent termination of its preferred lender agreement with Stellantis has impacted its auto origination volume.