Nissan Cancels Plan for Nissan Bank U.S. in Utah
Nissan applied in June 2025 to Utah regulators and the FDIC to form Nissan Bank U.S., a state-chartered, federally insured bank. The company later canceled the Salt Lake City plan, citing cost reductions and long-term financial health, while continuing to pursue an industrial bank charter in Utah. S&P cut Nissan to BB- with a negative outlook.