News Topic: Auto industry

The average price of a previously owned car has fallen in two consecutive months, and if the trend continues, lenders could see losses mount, Richard Fairbank said this week. ... Read full article

As apps like Uber and Lyft gain more traction, the need for new cars ⁠— and loans ⁠— is expected to diminish. ... Read full article

Until now, Toyota Financial Services has offered banking services to its dealers. But as it builds its digital bank, that will soon change, according to its newly appointed chief information officer. ... Read full article

The Detroit bank wants to focus on its core business instead, but other institutions have seen rapid growth in loans for recreational vehicles and other large pieces of transportation equipment. ... Read full article

The Dallas auto lender might lose as much as one-third of its business if it severs ties with the automaker, raising fresh questions about whether its parent company will buy out shareholders and take full ownership. ... Read full article

As it expands to the West Coast, the bank will first target car dealers at which it is already an indirect consumer lender. ... Read full article

Rather than jump right away into lending to car buyers, Access National will start by offering CRE and M&A financing to dealerships. ... Read full article

The Consumer Financial Protection Bureau’s 2013 guidance putting indirect auto lenders on the hook for unintentional discrimination by their partner dealers should have been subject to Congressional review, the Government Accountability Office said ... Read full article