Bank of America Enters Rental Fleet Financing Market

JACKSONVILLE, Fla. -- Bank of America has appointed Ray Huffstutter senior vice president in charge of relationships with independent and franchised car rental companies.

Automobile rental companies are a new targeted business channel for Bank of America through its Auto Group, a unit of Dealer Financial Services. The bank Auto Group has begun offering nationwide rental fleet financing programs, merchant services, treasury management solutions and term loans. In addition, clients can take advantage of the bank's online floor plan management system, Floor Plan Online.

"Ray has unique expertise in the auto rental industry and we are excited that he is leading this initiative for us," said Tim Russi, Auto Group president.

Huffstutter most recently was senior vice president of sales and marketing for Capital Auto Rental Services, a division of Union Planters. He also previously served as director of sales and business development for Bombardier Capital Inc. and region director for new business at Whirlpool Financial Corp.

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