Incoming Trail Blazers Owner Linked to Past Predatory Lending Allegations in Oregon

Oregon state officials are currently moving forward with a massive public funding package to renovate the Moda Center, even as questions emerge regarding the business history of the Portland Trail Blazers’ incoming owner, Tom Dundon. The proposed deal, which could provide hundreds of millions of taxpayer dollars to upgrade the arena, aims to secure the team’s future in Portland. However, newly surfaced documents reveal that Dundon played a central role in implementing aggressive lending practices at Santander Consumer USA, a company that settled with Oregon and other states for $550 million in 2020 over claims of predatory behavior.

Internal records indicate that while serving as CEO of Santander, Dundon pushed to waive income verification requirements for car loans. Regulators argued this strategy allowed the company to profit from high-interest loans that were likely to result in default and vehicle repossession for vulnerable borrowers. Despite these findings, Governor Tina Kotek and state legislators continue to advocate for the arena funding, framing the investment as a vital economic necessity for the region. While current Attorney General Dan Rayfield has criticized the practice of bypassing borrower protections, state leadership maintains that the legislative focus remains on the facility’s utility rather than the background of the team's new ownership. Dundon has declined to comment on the records until his acquisition of the franchise concludes in late March.