Auto lending

CFPB fines Santander Consumer for auto add-on product


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


Millennials don't need cars? Their debt loads say otherwise


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.


Santander Consumer's 3Q results show company at a crossroad


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.


Deposit surge highlights strong 3Q for Ally Financial


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


Puerto Rico's biggest bank finds ways to grow as island population shrinks


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.


Higher yields, equipment finance fees boost TCF's 3Q earnings


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.


Pentagon, others baffled by CFPB plan to cease military lending exams


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.


How AI helped double volume at this auto lender


The subprime auto lender Prestige Financial Services used machine learning to make more effective lending decisions than its former model.


USAA road-testing augmented reality app for car buying


By using the app, which will go live Monday in a pilot program, customers can point their phone at a vehicle and get an augmented reality overlay that provides all its critical info: the make, model and year of the car, as well as its price range and other information.


Wells Fargo's Mary Mack: The No. 1 Woman to Watch


Already tasked with fixing Wells Fargo's scandal-plagued retail bank, Mary Mack has added a second big job: running a consumer lending operation that is dealing with reputational issues of its own.