Auto lending

Santander Consumer will pay $60M to remain a Fiat Chrysler partner


The agreement is expected to solidify a lending partnership whose status had been in doubt for more than a year. But it raised as many questions as it answered.


Wells Fargo to pay $385 million to settle auto insurance scam


The bank was accused of forcing borrowers to pay for insurance they did not need, pushing almost 250,000 of them into delinquency, according to a 2017 lawsuit.


Santander’s U.S. units not out of woods yet


Santander Bank and Santander Consumer USA have put many problems behind them in recent years under CEO Scott Powell, but he still has a Federal Reserve enforcement action to resolve and is negotiating with Fiat Chrysler to preserve a crucial auto lending relationship.


Wells Fargo expands board, mulls changes to auto loan pricing


The scandal-plagued bank announced Wednesday that it is adding a board member with deep experience in accounting. It is also considering a switch to flat pricing in indirect auto lending, a change long favored by consumer advocates.


CFPB’s Kraninger digs in over halt to military lending exams


Kathy Kraninger, the bureau's director, is in a standoff with Democrats about her claim that the agency cannot supervise institutions under the Military Lending Act.


What’s behind the rise in credit card delinquencies


It’s no coincidence that with more than half of consumers ages 20 to 29 now holding credit cards — up from 41% in 2012 — 90-day delinquency rates are at a seven-year high, according to the New York Fed.


This behavioral metric could help banks get ready for next downturn


The Money Anxiety Index, a measure of consumer saving and spending habits, has started rising off a 50-year low. The economist who created it says that means another slump is nearing, and that banks should use the intel in pricing deposits and making other decisions.


House Dems put spotlight on auto lending discrimination


Democratic lawmakers made clear at a hearing Wednesday that they do not intend to abandon the issue following the GOP's repeal of regulatory guidance last year.


Santander Consumer reports 14% jump in auto loans


The surge in originations during the first quarter more than offset a decline in demand for new leases.


Berkshire Hills exiting national mortgages, indirect auto


The Boston company gained the mortgage platform when it bought First Choice in 2017.