News Topic: Auto lending

The subprime lender could lose a big partner now that Fiat Chrysler has officially announced it will form its own auto finance unit, and the two are negotiating an end to their 6-year-old relationship. ... Read full article

The banker made $140,000 in illegal trading profits; the German bank faces Fed stress test and “living will” examination soon. ... Read full article

Readers react to acting Consumer Financial Protection Bureau Director Mick Mulvaney easing mortgage reporting requirements, opine on facial recognition systems, weigh in on Wells Fargo’s attempts to change its culture and more. ... Read full article

Proposal would simplify the rule prohibiting proprietary trading; Fiat Chrysler, which accounts for about a third of the unit’s business, may go solo. ... Read full article

Fiat Chrysler is expected to announce Friday that it will establish its own captive finance unit in the U.S. The move could be bad news for its lending partners. ... Read full article

Comprehensive analysis of the banking industry's first big legislative victory since the crisis; lawsuits target banks with websites in violation of the Americans with Disabilities Act; what a homegrown app for millennials has to teach Wells Fargo; ... Read full article

The CFPB policy was aimed at preventing discriminatory markups on indirect loans made by car dealers, but current acting CFPB Director Mick Mulvaney said the guidance "seemed like a solution in search of a problem." ... Read full article

CEO Tim Sloan said that the bank has "pulled back enough" on auto lending and is poised to grow the business again. ... Read full article

While reform legislation for banks is just around the corner, market signals suggest the economy could be headed toward another downturn. ... Read full article

The post-recession boom in auto loans and credit cards for borrowers with marred credit histories has been winding down in recent months. ... Read full article

JPMorgan and Santander show off their uses for the technology; commercial and industrial loans outstanding are rising. ... Read full article

Ryan, McConnell say they have a deal on a bipartisan Dodd-Frank rollback; New York won more than $5 billion in settlements from big banks under the former AG. ... Read full article

Bill supporters say the guidance — which held indirect auto lenders liable for unintentional discrimination at partner dealerships — violated Dodd-Frank, but consumer advocates say the legislation would expose minority borrowers to mistreatment. ... Read full article

Auto lenders would be well advised to keep up their guard as states — particularly blue ones — take steps of their own to crack down on what they see as abusive practices. ... Read full article

Readers applaud acting Consumer Financial Protection Bureau Director Mick Mulvaney’s cost-cutting ideas, slam recent calls for postal banking, opine on banks limiting their business with firearms dealers and more. ... Read full article

The agency’s 2013 guidance is frequently portrayed as either an overdue push to stamp out lending discrimination or a case study in regulatory overreach. In truth, its impact was minimal. ... Read full article

Not a penny of the $1 billion fine against Wells Fargo will end up in the hands of customers harmed by practices flagged by regulators. ... Read full article

Record originations on "better-yielding" used-car loans helped drive a 14% increase in its first-quarter profit. But Ally's shares were down Thursday on concerns of rising deposit costs. ... Read full article