Auto lending

Provision for loan losses plummets at Santander Consumer

07/25/18

That improvement and loan growth made up for a lower margin in a more profitable second quarter, but the loan growth relied heavily on the subprime lender's partnership with Fiat Chrysler that could be ending.

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KeyCorp exec bolts for Toyota

07/25/18

Vipin Gupta, who was chief information officer at Key Community Bank, will oversee strategy for information technology at Toyota Financial Services.

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Wells Fargo freed from sanctions over treatment of service members

07/24/18

The OCC has terminated a 22-month-old consent order that stemmed from allegations that the bank unlawfully repossessed cars of members of the U.S. military.

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Credit losses shrink at Capital One

07/19/18

Credit card and auto loans grew again in the second quarter at the McLean, Va., company, and the net charge-off rates of both business lines fell, too.

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What 2Q says about the outlook for consumer credit

07/16/18

Bank of America’s consumer loans grew a lot. But its rivals? Not so much. The mixed results raise questions about whether BofA’s performance is a leading or trailing indicator, and if credit quality is going to be more of a problem industrywide.

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Santander Consumer lending practices draw fire from AFL-CIO

06/12/18

The largest U.S. labor federation is calling on Santander Consumer USA to end its practice of allowing car dealers to add interest to a vehicle loan unrelated to the borrower's creditworthiness.

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Auto lenders take on more risk; banks eschew muni bonds

06/11/18

Banks are extending maturities and making loans to riskier credits to boost volume; banks cut their muni holdings as tax rates drop.

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Losing Fiat Chrysler would threaten Santander Consumer’s independence

06/08/18

The Dallas auto lender might lose as much as one-third of its business if it severs ties with the automaker, raising fresh questions about whether its parent company will buy out shareholders and take full ownership.

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European merger talk; British fintech firm seeks U.S. bank license

06/05/18

UniCredit and Société Générale are discussing a merger; Revolut also plans to launch its mobile service in the U.S. this summer.

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Santander Consumer in talks to sell its share of partnership with Fiat

06/01/18

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.

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