Bank earnings rose nearly 11% in the second quarter, according to the FDIC; Goldman lobbying to kill or weaken the rule to boost its bond trading performance.
Auto, personal and credit card originations have fallen as delinquencies have risen, but researchers called the slowdown a temporary rebalancing by lenders.
TCF executives were peppered with questions about the quality of $345 million in auto loans recategorized as held for investment in the second quarter, as a result of the company’s recent move away from loan sales and securitizations.
Banco Santander plans to go ahead with a proposal to increase control of its U.S. subprime auto loan unit, after the business passed the Fed's stress test last month, according to people familiar with the matter.
LendUp is seeking to differentiate itself from competitors by making fast loan decisions and designing its customer experience around the mobile phone.
While the courts have affirmed cities’ right to file predatory lending suits, they are also now holding them to a much higher standard in proving that banks knowingly steered minority borrowers into high-cost home loans.
Santander Consumer USA, one of the biggest subprime auto finance companies, verified income on just 8 percent of borrowers whose loans it recently bundled into bonds, according to Moody's Investors Service.
