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Online financial services firm E-Trade Financial Corp. is in the process of selling its RV and marine lending operations while also exiting the hybrid trading business.
The announcement was included in the firm’s second quarter earnings report. E-Trade representatives contacted by RV Business were unable to comment on the negotiations.
E-Trade entered the RV lending arena in January 2003 with the purchase of Ganis Credit Corp., a subsidiary of Germany’s Deutsche Bank AG.
According to the company’s earnings statement, E-Trade made the decision to sell the RV and marine lending arms of its portfolio during the second quarter. The results were included in a $6.7 million after-tax loss from discontinued operations, which impacted earnings for the period.