New research from the New York Fed found that banks with more than $50 billion of assets originate more subprime car loans than small banks and credit unions do.
Executives from Ally Financial and Santander Consumer USA gave rosy outlooks this week about 2019 consumer trends, while other banks that rely less heavily on car lending offered more cautious appraisals.
The subprime online lender said Thursday that it will spin off its credit card business into a new entity, Mission Lane. It also named a new CEO to replace its founder, Sasha Orloff.
Despite recriminations about how the crisis and ensuing regulations have tightened loan access, an actual assessment of mortgage credit availability is more complicated.
A new credit score that includes consumers' cash flow alongside their credit score is winning praise for its potential to help expand access to credit, but some worry it gives the credit bureaus even more data that could be compromised.
