CENTENNIAL, Colo. – Centrix Financial, one of the largest subprime indirect auto lenders doing business with credit unions, is still apparently feeling the effects of the Risk Alert Letter NCUA issued in June concerning guidelines for credit unions involved with third-party subprime indirect vendors. As part of a company restructuring, Centrix laid off 100 employees Nov. 17. Centrix also announced it is merging its two operating divisions, the loan production group and the loan management group. The latest lay-off announcement is the second the company has made since the NCUA issued its Risk Alert Letter. In mid-September, Centrix laid off 150 employees – 10% of its workforce – when business began slowing down following the NCUA's issuance of the Risk Alert Letter.
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