Online auto loan company

TELECOMWORLDWIRE-18 August 2000-New online 'auto loan' service from American Express, PeopleFirst.com (C)1994-2000 M2 COMMUNICATIONS LTD http://www.m2.com

American Express has launched a new way to take out automatic loans over the Internet.

The new service comes as an extension of American Express' online bank, Membership B@nking due to an agreement with PeopleFirst.com. The online auto lender will underwrite and service all loans being processed.

Additionally, Membership B@nking customers will receive a 0.25 percentage point discount on the interest rate of their auto loan when they open a qualified, funded interest checking or money market account and use it to make payments on the loan.

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