Original: On 10 November 2009 , HSBC Finance Corporation announced its auto finance entities had reached an agreement with Santander Consumer USA Inc. ( SC USA ) to sell HSBC US auto loan servicing operations as well as US $ 1 billion in auto loan receivables for US $ 904 million in cash , and enter into a loan servicing agreement for the remainder of its US auto loan portfolio , which is in liquidation .
Simplified: On November 10 , 2009 , HSBC Finance Corporation announced an agreement with Santander Consumer USA Inc. ( SC USA ) . SC USA would sell HSBC US auto loan processing operations , and US $ 1 billion in auto loan receivables ( money due to be received ) for US $ 904 million in cash .