News Topic: Auto lending

In a year of political upheaval and weak commercial credit growth, lenders sought to capitalize on an economic bright spot — consumer spending — by reviving the personal loan, allying with fintechs and exiting traditional business lines that no longer made ... Read full article

The long-running slide in mortgage payments 60 or more days past due will continue next year, and perhaps even longer as borrowers benefit from favorable economic conditions. ... Read full article

As some lenders exit indirect auto lending, those that stick around have an opportunity to control pricing and reach more customers. ... Read full article

The agency has suffered a series of setbacks over the past two months, from a rollback of its arbitration rule to a legal battle over its leadership. Here's what happened — and where the agency might lose next. ... 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

Ware has been named a 2017 Banker of the Year award winner for transforming the family-owned bank into a highly profitable community lender that takes calculated risks and prides itself on treating employees and customers well. ... Read full article

The bank has taken a decisive step to protect its asset quality, but the move also raises questions about what will drive loan growth in the future — and whether the company is on the block. ... Read full article

Richard Cordray took a big gamble in his final act as head of the Consumer Financial Protection Bureau, attempting to appoint his own interim successor. He lost Tuesday, but he was far from the only one. ... Read full article

Richard Cordray took a big gamble in his final act as head of the Consumer Financial Protection Bureau, attempting to appoint his own interim successor. He lost Tuesday, but he was far from the only one. ... Read full article

Citing the dim financial outlook for a business it entered just six years ago, the Wayzata, Minn., company will stop making auto loans on Dec. 1. ... Read full article

The Consumer Financial Protection Bureau settled a $1.1 million enforcement action on Monday with Xerox Business Services, alleging that its software misreported borrower information to credit reporting agencies. ... Read full article

Franklin Codel reportedly made “disparaging remarks” about regulators; Zions may seek to have “too big to fail” label removed. ... Read full article

The subprime auto lender late Friday provided the final details of its separation agreement with Thomas Dundon, who stepped down two years ago in a leadership shake-up. ... Read full article

A new Republican director of the Consumer Financial Protection Bureau is likely to take immediate action to change certain rules, including the "qualified mortgage" and payday rules, while curbing pending enforcement actions that are considered ... Read full article

More stringent underwriting is the likely reason banks and credit unions are seeing relatively low levels of delinquencies on car loans to high-risk borrowers. ... Read full article

Dinesh Chopra is online bank's first-ever chief strategy officer. ... Read full article

Wells Fargo & Co. added $1 billion in the third quarter to what it says the bank may face in possible legal expenses. ... Read full article

The Consumer Financial Protection Bureau said 42% of car loans issued in the last year had a repayment term of six years or more, a huge leap over the 26% of car loans that had such longer terms in 2009. ... Read full article