MT ARLINGTON, NJ - Fifth Third Bank Automotive Lending Group, a division of Fifth Third Bancorp, has joined the International Automotive Remarketers Alliance (IARA), a nonprofit organization composed of remarketing professionals dedicated to the continuous improvement of the vehicle remarketing industry. The Bank’s Automotive Lending Group is one of the largest prime bank auto originators in the United States and conducts business in 45 states and works withmany of the large dealer groups across the country.
The IARA was created in 2001 in response to a realization by several vehicle remarketing organizations that this multi-billion dollar per year industry had no direct representative organization. The IARA conducts two semiannual Roundtable industry meetings, one of which is in conjunction with a national remarketing conference. Further information is available at www.iaraonline.org.
About The IARA
It is the primary purpose of the IARA to provide a forum in which members are able to maximize remarketed vehicle portfolio values. Functions include:
- Facilitate standardization of processes within the industry.
- Provide a medium to facilitate joint initiatives among Alliance members.
- Develop performance measurements for the industry.
- Provide a forum for sharing ideas, knowledge, and best practices.
- Encourage and support member adherence to the IARA Code of Ethics.
- Share information on legislative and regulatory issues impacting the
- Provide an educational service for learning the remarketing industry.
Provide a process of continuing education focused on the support of best
practices in the remarketing industry.
About Fifth Third Bancorp
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $117 billion in assets and operates 15 affiliates with 1,318 full-service Banking Centers, including 105 Bank Mart® locations open seven days a week inside select grocery stores and 2,396 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 39% interest in Vantiv Holding, LLC, formerly Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2012, had $296 billion in assets under care, of which it managed $26 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third's common stock is traded on the NASDAQ® National Global Select Market under the symbol "FITB." Fifth Third Bank. Member FDIC.
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