DALLAS, June 30, 2020 (GLOBE NEWSWIRE) -- Tricolor, the nation’s largest used vehicle retailer focusing on the sale and financing of vehicles to the Hispanic consumer, today announced that veteran compliance executive Stacie Trier has been named Chief Compliance Officer.
“More than ever, lenders have both a responsibility and an opportunity to align their business models with appropriate outcomes by providing borrowers with access to credit on fair and affordable terms,” said Tricolor CEO Daniel Chu. “I am thrilled to welcome Stacie as a highly qualified and respected leader who can help us maintain our mission-driven focus and disciplined risk outlook as we enter this next phase of expansion in response to rapidly growing market need and customer demand.”
Prior to joining Tricolor, Trier managed Enterprise Risk and Compliance at Exeter Finance, serving as the company’s Chief Risk Officer for the past two years. She previously spent 12 years at Capital One across both compliance and risk management roles. At Tricolor, she will be part of the core leadership team tasked with rapidly scaling its platform and retail network while expanding availability for its high quality, used vehicles and access to responsible auto financing options in new markets.
“Tricolor has developed a distinctive lending model which integrates its mission-driven approach with its core business competencies and value proposition to the consumer,” said Trier. “As customer needs continue to rise, I’m excited to help Tricolor realize its vision on a broader scale while helping to enhance the brand they’ve created.”
According to the Consumer Financial Protection Bureau (CFPB), 26 million people in the United States are “credit invisible” and an additional 19 million are “unscoreable,” corresponding to a total of 45 million people in the United States whose lack of a credit score translates into limited options in terms of accessing financing for a major purchase such as a motor vehicle.
Tricolor empowers its customers by providing access to affordable financing on high quality, certified vehicles in order to enhance the quality of their lives and ultimately help them to build a better future. Since its founding in 2007, the company has served over 60,000 customers and disbursed $1 billion in affordable auto loans by using its proprietary model to segment risk.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
For more information about Tricolor and Ganas, please visit tricolor.com and ganas.com.
About Tricolor
Tricolor is a Community Development Financial Institution (CDFI) and mission-driven company which sells and finances high quality, certified used motor vehicles through its premium brands, Tricolor Auto Group in Texas and Ganas Auto Group in California, utilizing advanced data analytics and technology to advance financial inclusion to a highly underserved market and offer responsible, affordable, credit-building auto loans to individuals with no or limited credit history.
Headquartered in Dallas, Tricolor and its affiliate Ganas Auto Group operate 38 retail dealerships across 12 markets in Texas and California, as well as a shared services center in Guadalajara, Mexico. On a combined basis, Tricolor and Ganas have served over 60,000 customers and disbursed over $1 billion in affordable auto loans by using its proprietary model to segment risk.
CONTACT INFORMATION
Stephanie Hicks
Cosmo PR for Tricolor
(805) 295-9455
stephanie@cosmo-pr.com