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.
- New Study Says Most Can't Afford Used Cars
CNBC News 14 Oct 2014
An analysis of 25 million used cars sold in the 50 largest metropolitan areas by iSeeCars.com indicates that used cars are unaffordable for millions of Americans. Phong Ly, CEO of iSeeCars.
- Exclusive: U.S. Regulators Press Banks for More on Auto Loan Exposure to Assess Risks
Reuters 12 Oct 2014
Sources say at least one federal regulator is asking banks for more detail on their auto financing exposure to better assess their risks given the rapid growth in lending, with an Equifax report ...
- Dealers to Face More Lender Scrutiny
Automotive News 08 Oct 2014
The "larger participants" rule proposed by the Consumer Financial Protection Bureau (CFPB) could be enacted before the end of the year, prompting more scrutiny of car dealerships and increasing ...
- Car Dealers Resisting Regulations on Fees
Detroit Free Press 07 Oct 2014
The National Automobile Dealers Association (NADA) is fighting efforts by the Consumer Financial Protection Bureau (CFPB) to eliminate dealers' ability to charge varying rates for higher-risk loans.
- 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.