I've noticed that CFR seems to outsource many business operations, which most banks with any size consider to be integral to their success. Examples are in the consumer lending area, CFR outsources apparently their mortgage lending to I guess GMAC (wow...what a partner there...can you say subprime lender) and their credit card lending to another party. Yes, sure these are business' that often require hugh scale to work economically. But considering most banks consider these areas as a core business to banking, I am very surprised to see CFR outsources these things.
What else do they outsource? Anyone know rationale for why they do outsource so many traditional banking functions?