Auto lending

Provision for loan losses plummets at Santander Consumer


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.


KeyCorp exec bolts for Toyota


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


Wells Fargo freed from sanctions over treatment of service members


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.


Credit losses shrink at Capital One


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.


What 2Q says about the outlook for consumer credit


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.


Santander Consumer lending practices draw fire from AFL-CIO


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.


Auto lenders take on more risk; banks eschew muni bonds


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


Losing Fiat Chrysler would threaten Santander Consumer’s independence


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.


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


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


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


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.