Auto lending

SBA’s Amazon-assisted save, W.Va. bank failure, BofA’s selective lending: Top stories of the week


After opening-day fiasco, SBA upgrades lender portal with Amazon assist; West Virginia’s First State Bank closed by regulators; BofA offers emergency loans to borrowers first, freezing out depositors; and more from this week’s most-read stories.


How the coronavirus crisis is upending auto lending


Closed showrooms, temporary bans on repossessions and a sudden spike in unemployment have dimmed the prospects of a sector that has boomed since the last recession.


Dimon returns to work; Fannie, Freddie may need bailout if lockdown persists


The CEO says he is getting stronger and working remotely; if the lockdown lasts several months, the GSEs may need a bailout, FHFA head Mark Calabria says.


Democratic senators quiz CFPB on its auto lending policies


Sens. Sherrod Brown and Elizabeth Warren criticized Director Kathy Kraninger for not issuing any public enforcement actions against auto lenders during her tenure.


Bank faces backlash on Tubman card; HSBC to cut costs, workers


Black-owned OneUnited is getting grief for its depiction of the abolitionist on a debit card; the bank plans $4.5 billion in cost cuts, with 35,000 jobs cut.


How should banks view mounting household debt?


Depending on one's perspective, the surge in consumer borrowing is either a normal byproduct of a booming economy or a worrisome trend that portends a wave of delinquencies when the next downturn hits.


Consumer lending outlook: Solid near term, shaky long term


Mortgages, auto loans and credit cards should perform well for the next two quarters. Beyond that, all bets are off.


New Santander Consumer chief: Fiat partnership is still main focus


Loans made for Fiat Chrysler represented the largest chunk of Santander Consumer's lending in the fourth quarter, and Mahesh Aditya said their relationship is his top priority.


Auto loan delinquencies hit eight-year high


The percentage of consumers who are past due on home equity loans, RV and other personal loans also rose in the third quarter, data released by the American Bankers Association showed.


California fines title lender, says its pricing violated state law


The Department of Business Oversight said TitleMax charged consumers fees to push loan amounts above the threshold at which the state's rate cap applies.