Santander Consumer USA files to delay Form 10-Q
The Company is in discussions with its current and former independent registered public accounting firms regarding certain accounting matters, primarily related to the Company's discount accretion and credit loss allowance methodologies, and the related control considerations. In connection with these matters, the Company also is in the pre-filing submission process with the SEC, Office of the Chief Accountant, regarding the Company's accounting treatment for consideration of net discount in estimating the allowance for credit losses. The resolution of these matters is expected to impact prior period financial statements. The Company will file the Form 10-Q as soon as practicable.
