Auto lending

TCF is looking to diversify its streams of revenue as it dials back auto lending amid concerns about weakening credit quality.

The Dallas consumer lender says it plans to boost subprime originations again after retooling its portfolio and taking stock of the economy.

The Minnesota bank held on to auto loans, sold fewer consumer mortgages and paid more interest on deposits and long-term borrowings as it also redeemed preferred shares in the third quarter.

Taking a data-driven approach to marketing not only helped pump up originations -- it also helped save members money.

The hurricanes destroyed hundreds of thousands of cars, and banks are significantly boosting their reserves in anticipation of higher defaults on auto loans. But there is also a silver lining for auto lenders.

Huntington executives are surprised that chargeoffs are still so low and say they're prepared for things to get worse, yet they remain aggressive in auto and other categories. The juxtaposition is a sign of the times for lenders.

The 25 new CUs represent approximately 300,000 additional credit union members who will have access to the car-buying platform's services.

Total loans fell 1.6% at the North Carolina-based regional bank, which has been scaling back in key segments such as residential mortgages and auto. Wider margins offset that reduction, but earnings were flat and revenue growth small.

CU Journal's annual awards recognize new innovations that have demonstrated concrete results, giving readers a host of great ideas to use.

At 1.56%, the delinquency rate on consumer loans remains well below historic averages, the American Bankers Association said Thursday.

In light of the recent disbursement of nearly $40 million in grants to credit unions from The Treasury Department’s Community Development Financial Institutions Fund, Credit Union Journal surveyed some credit unions which have received CDFI grants in the past to find out how these funds are being used.

Chemical Financial and Fidelity Southern are the latest banks to curtail auto lending, blaming trends in auto sales and overheated competition.

Under Diane Morais, Ally Bank is growing deposits at a rate four times faster than the industry average.

Sandy Pierce's myriad responsibilities include managing Huntington’s 18 regional bank presidents, overseeing its private bank and leading all activities in Michigan.

Thasunda Duckett led Chase Auto Finance to record loan growth in her three-plus years as the unit’s CEO. Now she is looking to take JPMorgan Chase's consumer bank to similarly lofty heights.

The Michigan company said the branch closures will save it $20 million a year. It also plans to devote fewer resources to indirect auto, where returns have trailed other lending categories.

Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions.

An artificial intelligence model predicted creditworthiness more accurately than traditional models in an experiment conducted by the auto lender. The technology someday could be used to find hidden gems among loan applicants — emphasis on the someday.

The Canadian bank blamed flat profits at its U.S. business, which includes Chicago-based lender BMO Harris Bank, partly on Washington gridlock that has stalled pro-business reforms.

CFPB and OCC are looking at auto lenders’ policies regarding so-called GAP insurance; banks want greater collateral from retailers.