Auto lending

Consumer loan applications dropped as coronavirus spread, CFPB says

05/01/20

Credit inquiries for auto lending, revolving credit cards and mortgages fell sharply in March as unemployment surged, according to a Consumer Financial Protection Bureau report.

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Subprime car buyers skip loan payments in sign of trouble ahead

04/21/20

Credit Acceptance Corp., the lender to car buyers with subprime credit scores, warned it's seeing a sharp drop-off in payments as people shift their financial priorities to get through the coronavirus pandemic.

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Ally girds for surge in auto loan defaults

04/20/20

After more than tripling its loan-loss provision, the $182 billion-asset company became the first large U.S. bank to report a quarterly loss as a result of the coronavirus pandemic.

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SBA’s Amazon-assisted save, W.Va. bank failure, BofA’s selective lending: Top stories of the week

04/10/20

After opening-day fiasco, SBA upgrades lender portal with Amazon assist; West Virginia’s First State Bank closed by regulators; BofA offers emergency loans to borrowers first, freezing out depositors; and more from this week’s most-read stories.

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How the coronavirus crisis is upending auto lending

04/08/20

Closed showrooms, temporary bans on repossessions and a sudden spike in unemployment have dimmed the prospects of a sector that has boomed since the last recession.

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Dimon returns to work; Fannie, Freddie may need bailout if lockdown persists

04/03/20

The CEO says he is getting stronger and working remotely; if the lockdown lasts several months, the GSEs may need a bailout, FHFA head Mark Calabria says.

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Democratic senators quiz CFPB on its auto lending policies

03/17/20

Sens. Sherrod Brown and Elizabeth Warren criticized Director Kathy Kraninger for not issuing any public enforcement actions against auto lenders during her tenure.

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Bank faces backlash on Tubman card; HSBC to cut costs, workers

02/18/20

Black-owned OneUnited is getting grief for its depiction of the abolitionist on a debit card; the bank plans $4.5 billion in cost cuts, with 35,000 jobs cut.

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How should banks view mounting household debt?

02/11/20

Depending on one's perspective, the surge in consumer borrowing is either a normal byproduct of a booming economy or a worrisome trend that portends a wave of delinquencies when the next downturn hits.

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Consumer lending outlook: Solid near term, shaky long term

01/31/20

Mortgages, auto loans and credit cards should perform well for the next two quarters. Beyond that, all bets are off.

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