KeyCorp is pulling out of the business of financing inventories and purchases of recreational vehicles and boats.

KeyCorp said it will stop taking applications for new retail loans on Oct. 27 but said it will honor existing retail loan commitments and continue to service existing loans in its portfolio.

KeyCorp, which has conducted the business through Key Recreation Lending, said it will continue to offer retail marine and RV loans directly to its customers through its branch network.

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