Auto lending

‘Enigmatic’ CFPB chief could drop more surprises in a second Trump term


Kathy Kraninger’s job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue balancing a deregulatory agenda with her unexpectedly tough stance on enforcement.


Ally expects margin expansion from consumer loan growth


Originations in the third quarter are on pace to double what the Detroit lender reported a quarter earlier, adding more high-yielding loans to the balance sheet.


Household debt falls for first time since 2014


Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.


Will GOP plan to slash unemployment aid trigger wave of loan defaults?


The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week.


Huntington aims to contain energy exposure, ride consumer lending


The Ohio company, which has beefed up its loan-loss reserves, raised the possibility of more sales of oil and gas credits and talked up strong retail segments such as its marine and RV loans.


Cracks begin to show in multifamily lending


Delinquencies have been ticking up since the start of the coronavirus pandemic and Capital One is warning of more pain unless the government provides additional relief to tenants and landlords.


Rebound in used-car purchases helps Ally post modest 2Q profit


Some 60% of Ally’s auto originations in the second quarter were used-vehicle loans, the highest percentage in the company's history.


Online lender Upstart launches auto loan platform


Upstart, which specializes in the use of alternative data and AI in credit decisions, will make car loans directly and sell its technology to banks and other lenders.


Emergency consumer relief bill in California stalls


After drawing industry opposition, legislation that would have added broad new borrower protections during the pandemic failed to advance out of the state Assembly.


PPP moves to stage two; HSBC chided for 'kowtowing' to Beijing


Small businesses that took out the loans will soon be applying for forgiveness; U.S. Secretary of State Pompeo and one of HSBC's large investors criticized the bank for buckling to Chinese pressure.