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.
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.
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.
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.
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.
