News Topic: Auto lending

A new report from the American Bankers Association reinforces existing concerns about the ability of U.S. consumers to manage all of their debts. ... Read full article

James Clinger is currently general counsel to the House finance panel; CFPB director refutes House panel claims he didn’t do his job in Wells Fargo investigation. ... Read full article

Large banks have scaled back lending as competition has intensified and credit unions and financing arms of car manufacturers are picking up the slack. ... Read full article

Reliance on asset-based loans protects banks as retail chains flounder; average FICO score hits record 700 while the percentage of those with scores below 600 hits new low. ... Read full article

The old record was set just before the Great Recession, and what may be most remarkable is that it took nearly nine years to reach a new milestone. ... Read full article

Steve Allocca is expected to play a key role in the online lender’s efforts to restart loan growth. ... Read full article

The Minnesota company recently announced that it would stop selling auto loans since credit quality concerns have slowed investor demand, but it is unclear whether its plan to keep all its car loans on its books is less risky. ... Read full article

The GOP is working on a plan that could extend the Congressional Review Act's reach so that it may overturn certain policies all the way back to 1996. ... Read full article

Executives at the embattled bank made clear Thursday that they are not discarding its long-standing strategy of selling additional products to existing customers. ... Read full article

Banks are increasingly tightening lending standards for commercial real estate loans and are likewise seeing a drop-off in demand, according to a report released Monday by the Federal Reserve Board. ... Read full article

The weakening car-loan market poses a big challenge for the Detroit-based lender, but it also could also present an opportunity, since other big banks are sharply reducing their exposure. ... Read full article

Depending whose money they're using, Wells Fargo and JPMorgan Chase either love subprime car loans or fear them. ... Read full article

The Consumer Financial Protection Bureau ordered an auto loan servicer on Wednesday to pay $2.4 million for failing to live up to the terms of a 2015 consent order. ... Read full article

Profits at the Dallas lender plunged as it slashed originations and edged up the credit spectrum. ... Read full article

The Cincinnati company’s 1Q profits were hurt as it scaled back in key consumer and commercial credits, paid higher severance and saw fee income fall. ... Read full article

Quarterly earnings at the Wayzata, Minn., company fell as gains from the sale of auto loans continued to slide. ... Read full article

A $26 million settlement by Santander Consumer is shining a light on the hard-to-measure problem of auto dealer fraud, while also raising questions about the adequacy of lenders' efforts to combat bad behavior. ... Read full article

New boss Andy Cecere's first year on the job will likely be defined by how he tackles the challenges in front of him, including keeping the company’s highly watched efficiency ratio in check and managing pitfalls in auto-lease financing. ... Read full article