News Topic: Auto lending

The bank may extend advisory service to clients with as little as $5,000 to invest; trading of the cryptocurrency has plunged. ... Read full article

The Bank is poised to pick two people to handle Simon Potter’s former job; Securities backed by subprime U.S. car loans are “going gangbusters.” ... Read full article

Bank of the West intends to stop making indirect auto loans and will instead focus on financing purchases of boats and recreational vehicles. It’s just the latest example of a regional bank pouring more resources into the powersports sector. ... Read full article

The tech giant’s plan to offer checking raises concerns about how it will use customer data; third quarter loan originations were the second most on record. ... Read full article

Home loan originations rose by double digits in the third quarter while auto loan originations approached an all-time high, according to new household credit data from the New York Fed. ... Read full article

Top officials at Bank of America and Wells Fargo said that commercial loan demand is weak, even as U.S. consumers show strength. Their comments echo recent findings by the Federal Reserve. ... Read full article

The credit card issuer, which recorded an 11% decline in net income last quarter, took one-time charges in connection with a U.K. sales scandal, the start of a new partnership with Walmart and a recent data breach. ... Read full article

While demand is strong and loan performance generally remains solid, the prevalence of longer loan terms has sparked concern that losses will eventually spike. ... Read full article

As apps like Uber and Lyft gain more traction, the need for new cars ⁠— and loans ⁠— is expected to diminish. ... Read full article

Delinquencies on indirect auto and home equity loans are trending up, while past-due rates on credit cards are declining, according to a recent report by the American Bankers Association. ... Read full article

Facebook calls an emergency meeting about its planned payments network; Well Fargo report says 200,000 jobs will be lost to robots and technology. ... Read full article

A year after the major credit bureaus agreed to strip tax liens and civil judgments from consumers' credit files, a new study says it is hampering lenders' credit decisions. But proponents of the move insist it was the right call. ... Read full article

A subsidiary of Citizens Financial Group placed first in a recent J.D. Power ranking of car dealer satisfaction with noncaptive auto lenders. However, that group — primarily banks and credit unions — lagged other types of auto lenders. ... Read full article

Borrower debt continues to rise, late payments are up and interest rates are at their highest levels since at least 1994. A new report raises questions about the sustainability of the card industry's boom. ... Read full article

The hiring of Tim Wennes was one a series of leadership changes announced Wednesday by the holding company for the bank and the auto lender Santander Consumer. ... Read full article

The Democratic presidential candidate argued in a blog post that the U.S. could avoid a recession by canceling most student debt and authorizing regulators to more aggressively monitor leveraged lending. ... Read full article

The McLean, Va.-based credit card issuer reported expense growth that rose faster than net interest income during the second quarter. ... Read full article

The company, which announced the conclusion of a three-year-old credit card partnership with TD Bank, is shifting to digital financing of individual consumer purchases. ... Read full article