Latest Auto Lending News
Here are the latest news in the world of consumer auto lending. Stay informed on the latest practices affecting the cost of your next car loan and vehicle.
- Stressed Borrowers Rattle Resurgent Subprime Lending Industry
New York Times 12 Sep 2014
Subprime lenders in recent years have successfully issued billions of dollars in auto and other loans without alarming levels of defaults, but there are indications that their luck may be running out.
- Texas Auto-Finance Firm Fined for Providing Inaccurate Information
Wall Street Journal 21 Aug 2014
The Consumer Financial Protection Bureau (CFPB) on Aug. 20 ordered an auto finance company to pay a $2.
- Moody?s Says Lenders Are Backing off Subprime Auto Loans
Washington Post 20 Aug 2014
Fewer lenders are extending car loans to consumers with poor credit histories, reversing a trend that had triggered alarm of a new financial bubble, Moody’s Investors Service reports.
- Moody?s Tamps Down Concerns About Surge in Auto Loans
New York Times 12 Aug 2014
A new report from Moody's Analytics shows that even while the market for subprime auto loans may be bubbling, it likely will not burst.
- Lenders Wary of Feds' Scrutiny
Automotive News 11 Aug 2014
The U.S. Justice Department confirms that it has sent subpoenas to GM Financial and Santander Consumer USA -- the two largest issuers of securities based on subprime auto loans.
- Justice Department Subpoenas GM Over Subprime Auto Loans
Washington Post 05 Aug 2014
The Justice Department has served General Motors Financial with a subpoena demanding documents related to underwriting criteria for subprime auto loans it made and securitized since 2007.
- Auto Buyers Load Up on Record Amount of Loans
NBCNews.com 03 Jun 2014
Auto buyers borrowed a record amount in the first quarter with the average monthly payment climbing to an all-time high of $474, according to a new report from Experian Automotive.
- Car Buyers Upside Down on Auto Loans
Chicago Tribune 15 May 2014
In the first quarter of 2014, 27 percent of new-vehicle buyers who traded in an old model owed more on the trade-in than it was worth, according to the Power Information Network (PIN), a unit of J.D.
- Fifth Third Bancorp Faces Probe Over Auto-Lending Practices
Dow Jones Newswires 08 May 2014
Fifth Third Bancorp reports it is facing a Justice Department investigation over whether it engaged in discriminatory auto lending practices.
- CFPB Lauds BMO Harris for Switch to Flat-Fee Pricing on Auto Loans
American Banker 01 May 2014
BMO Harris Bank is now the first indirect auto lender to adopt a flat-fee structure, which limits the flexibility among dealers to price finance loans.