Ally Thinks It Can Keep Riding the Auto Lending Boom
Ally Financial is enjoying the spoils of the nationwide auto-finance boom and does not expect it to end any time soon. Collection & Credit Risk
Ally Financial is enjoying the spoils of the nationwide auto-finance boom and does not expect it to end any time soon. Collection & Credit Risk
Subprime auto loan delinquencies have risen to levels that are higher than before the financial crisis and arent rising at the same pace as loans to others, Citigroup analysts wrote in a report, without citing specific issuers. Collection & Credit Risk
While year-to-date auto loan growth rates have slowed compared to last year, totals for new credit and the number of new loans originated for auto purchases are at record highest, according to the latest Equifax National Consumer Credit Trends Report. Collection & Credit Risk
House Republicans are criticizing plans by the Consumer Financial Protection Bureau to regulate more auto lenders. Collection & Credit Risk
WASHINGTON The Consumer Financial Protection Bureau has taken a sweeping approach in using its authority to propose supervision of the largest nonbank auto lenders, unveiling a plan that would effectively cover 90% of the market. Collection & Credit Risk
Protecting consumers from predatory financial products and services is part of our mission and something we take very seriously. We received a Tell Your Story from the father of a servicemember that led to us opening an investigation into an auto loan program. The program, which targeted servicemembers, was found to have deceptive marketing and [...]
Fueled by demand for auto loans and higher credit card balances, U.S. consumer borrowing soared in July and posted its biggest jump since November 2001. Collection & Credit Risk
Auto loan delinquency rates rose more than 9% in the second quarter ended June 30 versus the same period last year while auto loan debts rose for the 13th straight quarter, according to TransUnion. Collection & Credit Risk
A record number of consumers took out loans to buy cars in the second quarter, fueled by people purchasing used vehicles, according to data from Experian Plc. Collections & Credit Risk
U.S. banks spent much of the last five years grappling with the legal fallout from the subprime housing bubble. Now, with the launch of a surprise inquiry by a hard-charging federal prosecutor in New York, lenders are wondering if subprime auto loans are next. Collections - Other Consumer