Santander Consumer USA, already under sharp scrutiny from regulators for its subprime auto lending, is moving even deeper into subprime territory.

The lender has established, or revived, depending on which rating agency you subscribe to, a securitization platform called Drive Auto Receivables Trust (DRIVE) for loans too risky to be securitized via either Santander Drive Auto Receivables Trust (SDART) or and Chrysler Capital Auto Receivables Trust (CCART).

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