Auto lending

Lawmakers should not toss out an agency rule aimed at curbing auto dealer markups that adversely impact borrowers of color.

Sixty-four consumer groups are speaking out against a Senate measure, expected to be voted on this week, that would overturn the Consumer Financial Protection Bureau's 2013 regulation on discriminatory pricing by auto lenders.

A 28% increase in lease assets helped offset stagnant growth in traditional auto lending.

Concerned about rising default rates, banks "significantly" tightened underwriting in the first quarter, the Bank of England said in a report published Thursday.

Retail banking chief Christian Sewing will become CEO immediately; higher deposit rates could trim lending margins as banks head into earnings season.

The subprime auto lender failed to disclose that it received fees for referring borrowers to CarMax, the used-car dealer, according to California's financial regulator.

The St. Louis-based company partnered with 38 new credit unions last fiscal year.

The Auburn Hills, Mich.-based credit union serves 200,000 members with more than $2.3 billion in assets.

Growing numbers of small subprime auto lenders are shutting down after loan losses and slim margins spur banks and private equity owners to cut off funding.

Late-payment rates at banks declined in nine out of the 11 consumer loan categories tracked by the American Bankers Association, including credit cards, auto loans and personal loans.