News Topic: Auto lending

Regulators and consumer activists are examining the relationships among banks, insurance companies and auto-loan borrowers following the new revelations about Wells Fargo and insurers' rising premium income. ... Read full article

Wells Fargo's regulators are looking into another issue involving insurance linked to auto loans as scrutiny of a key lending unit widens, according to people with knowledge of the matter. ... Read full article

Wells Fargo's admission that it charged customers for auto policies they didn't request has prompted an investigation by a California's insurance regulator. ... Read full article

Bank warns investors of bigger fallout from scandals; Senate Republicans may not have votes to overturn rule ending mandatory arbitration. ... Read full article

The Department of Financial Services and Attorney General Eric Schneiderman are both inquiring. ... Read full article

Wells Fargo & Co. customers accused the bank in a lawsuit of forcing them to pay for unnecessary auto insurance that drove some of them so far into a financial spiral that their vehicles were repossessed. ... Read full article

The bank forced hundreds of thousands of auto loan borrowers to take out insurance they didn't need, putting some into delinquency; a Russian man is arrested and charged in $4 billion money laundering scheme. ... Read full article

Wells Fargo's campaign to rebuild customer and shareholder trust just hit another bump, as the bank said it may have pushed thousands of car buyers into loan defaults and repossessions by charging them for unwanted insurance. ... Read full article

The Detroit company is capitalizing on other banks' retreat from the auto sector. ... Read full article

Valley National's latest acquisition would make it a much bigger player in Florida and provide a platform to write more auto loans. Both markets present attractive returns but high risks. ... Read full article

TCF executives were peppered with questions about the quality of $345 million in auto loans recategorized as held for investment in the second quarter, as a result of the company’s recent move away from loan sales and securitizations. ... Read full article

Double-digit growth in loan volume offset a decline in fee income at the Honolulu company. ... Read full article

Net interest income rose 7% and margins widened 17 basis points at the Wayzata, Minn., company. ... Read full article

Auto risks mounting. Mortgage market tightening. Are there any good risks these days in consumer lending? Regional bank executives insist partnerships with online lenders, unsecured personal loans and other niche efforts can work if done properly. ... Read full article

LendKey, whose software helps financial institutions make student, auto and home improvement loans, closed a Series C round led by a fund whose investors include more than a dozen banks. ... Read full article

The McLean, Va., lender, which has substantial exposure to subprime consumer loans, also added to its provision for credit losses. ... Read full article

Declines in commercial products and mortgage banking fees at the Minneapolis company offset some of the benefits of higher interest rates. ... Read full article

Wells Fargo's new car loans dropped by almost half in the second quarter, while its automotive portfolio fell to the lowest level in two years after the San Francisco-based company tightened underwriting standards. ... Read full article