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Consumer finance

Consumer finance Definition

Consumer Finance is a term used in large banks for divisions of that bank which consist of stores or offices which primarily sub prime lending and "indirect lending" (for example running the payments financing program of a local furniture store). Both of these are high interest rate items and potentially can make the parent company a lot of money (for example the consumer finance division of Citigroup made 2.2 billion in profits in 2002, while the normal consumer bank division made 3.3 billion).



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