TCF Steers Into Auto Loan Market With Gateway One Deal

Law360, New York (October 13, 2011, 5:26 PM EDT) -- A unit of Minnesota-based TCF Financial Corp. said Thursday that it will enter the auto loan market with the acquisition of Gateway One Lending & Finance LLC, a privately held auto finance firm that services a loan portfolio of $406 million.

TCF, a national bank holding company which has $18.8 billion in assets, did not disclose a dollar figure for the transaction, which is expected to close before the end of the calendar year and will help TCF diversify its offerings.

Its wholly-owned subsidiary, TCF National...
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