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First Niagara enters indirect auto financing business

By THOMAS ADAMS - 3/28/2012 3:08:15 PM

First Niagara Financial Group Inc. has entered the auto lending business, providing dealership financing options throughout the northeast, bank officials announced Wednesday.

At least 400 new car dealers are participating, with another 1,100 expected to be added by 2014, officials said.

The program is available immediately in New York, New England, New Jersey and Delaware, officials said. Pennsylvania is scheduled to be added by the end of June.

“This is a considerable growth opportunity, complementing our extended market presence across the northeastern U.S.,” Andrew Fornarola, a First Niagara senior vice president, said in a statement.

Two credit underwriting sites, in Buffalo and Albany, are available, with 16 jobs created in Buffalo, five in Albany and one in New England, officials said. Some 50 jobs are planned with three years, they said.


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