This year has been very good to regional banks, bitcoin investors and several bank CEOs who pulled off big deals or successfully refined business models.
The subprime auto lender late Friday provided the final details of its separation agreement with Thomas Dundon, who stepped down two years ago in a leadership shake-up.
Evidence that the credit characteristics of online installment borrowers at the time of repayment are consistently worse than at the time of borrowing should be a sobering thought for lenders that have not been fully tested in a credit downturn.
More stringent underwriting is the likely reason banks and credit unions are seeing relatively low levels of delinquencies on car loans to high-risk borrowers.
In a new book, Mehrsa Baradaran argues that the same forces of poverty that African-American banks were supposed to alleviate are now holding them back.
LendingPoint, which caters to borrowers with damaged credit records, believes that traditional credit scores are overly pessimistic about the likelihood that certain borrowers will repay.
Powell downplayed fears about subprime auto lending, saying he aims to improve Santander Consumer's compliance culture, beef up customer services and expand its relationship with Chrysler Capital.
Scott Powell will lead the auto lender while continuing to serve as CEO of Santander Holdings, the U.S. division of the Spanish banking giant Banco Santander.
