Auto lending

Is it time to worry about mounting credit card debt?

08/13/19

Borrower debt continues to rise, late payments are up and interest rates are at their highest levels since at least 1994. A new report raises questions about the sustainability of the card industry's boom.

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Santander Bank names longtime MUFG Union executive its CEO

07/24/19

The hiring of Tim Wennes was one a series of leadership changes announced Wednesday by the holding company for the bank and the auto lender Santander Consumer.

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Warren warns consumer, corporate debt could cause next crisis

07/22/19

The Democratic presidential candidate argued in a blog post that the U.S. could avoid a recession by canceling most student debt and authorizing regulators to more aggressively monitor leveraged lending.

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Sluggish loan growth hurts profits at Capital One

07/18/19

The McLean, Va.-based credit card issuer reported expense growth that rose faster than net interest income during the second quarter.

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Ally ends credit card experiment, pivots to point-of-sale loans

07/18/19

The company, which announced the conclusion of a three-year-old credit card partnership with TD Bank, is shifting to digital financing of individual consumer purchases.

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Wells Fargo sued for denying loan to Dreamer

07/17/19

The claim of alleged discrimination over immigration status is the latest legal headache for Wells Fargo.

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Santander Consumer will pay $60M to remain a Fiat Chrysler partner

07/01/19

The agreement is expected to solidify a lending partnership whose status had been in doubt for more than a year. But it raised as many questions as it answered.

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Wells Fargo to pay $385 million to settle auto insurance scam

06/07/19

The bank was accused of forcing borrowers to pay for insurance they did not need, pushing almost 250,000 of them into delinquency, according to a 2017 lawsuit.

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Santander’s U.S. units not out of woods yet

06/03/19

Santander Bank and Santander Consumer USA have put many problems behind them in recent years under CEO Scott Powell, but he still has a Federal Reserve enforcement action to resolve and is negotiating with Fiat Chrysler to preserve a crucial auto lending relationship.

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Wells Fargo expands board, mulls changes to auto loan pricing

05/29/19

The scandal-plagued bank announced Wednesday that it is adding a board member with deep experience in accounting. It is also considering a switch to flat pricing in indirect auto lending, a change long favored by consumer advocates.

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