News Topic: Auto lending

The Minnesota bank held on to auto loans, sold fewer consumer mortgages and paid more interest on deposits and long-term borrowings in the third quarter. ... Read full article

The hurricanes destroyed hundreds of thousands of cars, and banks are significantly boosting their reserves in anticipation of higher defaults on auto loans. But there is also a silver lining for auto lenders. ... Read full article

Huntington executives are surprised that chargeoffs are still so low and say they're prepared for things to get worse, yet they remain aggressive in auto and other categories. The juxtaposition is a sign of the times for lenders. ... Read full article

Total loans fell 1.6% at the North Carolina-based regional bank, which has been scaling back in key segments such as residential mortgages and auto. Wider margins offset that reduction, but earnings were flat and revenue growth small. ... Read full article

At 1.56%, the delinquency rate on consumer loans remains well below historic averages, the American Bankers Association said Thursday. ... Read full article

Chemical Financial and Fidelity Southern are the latest banks to curtail auto lending, blaming trends in auto sales and overheated competition. ... Read full article

Under Diane Morais, Ally Bank is growing deposits at a rate four times faster than the industry average. ... Read full article

Sandy Pierce's myriad responsibilities include managing Huntington’s 18 regional bank presidents, overseeing its private bank and leading all activities in Michigan. ... Read full article

The Michigan company said the branch closures will save it $20 million a year. It also plans to devote fewer resources to indirect auto, where returns have trailed other lending categories. ... Read full article

Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions. ... Read full article

An artificial intelligence model predicted creditworthiness more accurately than traditional models in an experiment conducted by the auto lender. The technology someday could be used to find hidden gems among loan applicants — emphasis on the someday. ... Read full article

The Canadian bank blamed flat profits at its U.S. business, which includes Chicago-based lender BMO Harris Bank, partly on Washington gridlock that has stalled pro-business reforms. ... Read full article

CFPB and OCC are looking at auto lenders’ policies regarding so-called GAP insurance; banks want greater collateral from retailers. ... Read full article

Powell downplayed fears about subprime auto lending, saying he aims to improve Santander Consumer's compliance culture, beef up customer services and expand its relationship with Chrysler Capital. ... Read full article

Scott Powell will lead the auto lender while continuing to serve as CEO of Santander Holdings, the U.S. division of the Spanish banking giant Banco Santander. ... Read full article

U.S. Bank and Wells Fargo to use Blend software to speed up mortgage origination processes; Robert Kaplan wants to keep stress tests on big banks. ... Read full article

The commitments were the residue of restrictions that were placed on Ally in the wake of government bailouts in 2008 and 2009. ... Read full article

The bank agrees to pay $6 million to a California couple a judge said was illegally foreclosed on; do rewards programs help or hurt card issuers? ... Read full article