News Topic: Auto lending

New research from the New York Fed found that banks with more than $50 billion of assets originate more subprime car loans than small banks and credit unions do. ... Read full article

The automaker's finance arm joins Avant, OnDeck Capital and SoFi in the system, which is designed to help verify loan applicants' identities. ... Read full article

Executives from Ally Financial and Santander Consumer USA gave rosy outlooks this week about 2019 consumer trends, while other banks that rely less heavily on car lending offered more cautious appraisals. ... Read full article

More than half of the new depositors the online bank added in the fourth quarter are millennials. ... Read full article

The director of the Consumer Financial Protection Bureau has asked Congress to clarify its ability to conduct exams that ensure compliance with the Military Lending Act. ... Read full article

Demand for commercial loans surged in the fourth quarter and executives at the Buffalo company see the momentum continuing in the new year. ... Read full article

Consumer lending should also be a bright spot, while mortgage lending could be suppressed by rising rates and tight housing supplies. ... Read full article

More consumers fell behind on their loans in the third quarter of 2018, even as average wages rose and the unemployment rate fell to a 50-year low. ... Read full article

From the end of overdraft fees to the rise of banks that watch their customers' every move, there are several new banking trends on the horizon in 2019. ... Read full article

From the end of overdraft fees to the rise of banks that watch their customers' every move, there are several new banking trends on the horizon in 2019. ... Read full article

The Chicago bank's new partnership with AutoGravity mirrors others struck this year by JPMorgan Chase and U.S. Bank with providers of mobile apps that bundle the car-buying and lending processes. ... Read full article

The agency alleges the subprime auto lender violated consumer finance laws by misrepresenting the level of guaranteed insurance protection. ... Read full article

Adults ages 18 to 29 may have a hard time getting a mortgage, but they are not shying away from other forms of consumer debt, according to a report by the New York Fed. ... Read full article

The Dallas subprime auto lender seems to be reaching the bottom of its lingering supply of accounting issues, yet its origination of more loans through Fiat Chrysler underlined questions about the future of its relationship with the big carmaker. ... Read full article

Deposits topped $100 billion during the quarter while profits climbed 34% thanks to higher loan yields and lower taxes. ... Read full article

Popular's 16% gain in deposits and a recent acquisition bode well for its future even though there has been a major net loss of residents since Hurricane Maria. ... Read full article

The $22.9 billion-asset TCF also highlighted improvements in credit quality in the third quarter as it continued to exit the auto finance business. ... Read full article

The bureau says it lacks explicit authority to conduct routine supervision of lenders’ compliance with service member protections, but the decision has sparked pushback from the Defense Department and groups representing military personnel. ... Read full article