Auto lending

A top executive at the auto lender said that more borrowers struggled to repay their loans over the summer amid inflation and a tougher job market. Late payments on auto loans rose by more than Ally expected in July and August.

Higher interest rates and increased competitive pressure from captive finance companies cut into vehicle lending at credit unions in the second quarter.

The category shifted into high gear during the first quarter, but experts predict a severe slowdown based on a growing number of economic concerns.

During its first-quarter earnings call, the Detroit-based company's CEO said it is seeking to "protect the house" by dialing back the pace of car-loan originations and seeking to attract more super-prime borrowers.

The Spanish banking giant is doubling down on its U.S. operations, unlike other foreign-owned banks that have abandoned efforts to reach American consumers. It's doing so partly by better integrating its large auto lending business with its retail bank.

Car loans are among the bread-and-butter products for credit unions, but slowing demand and growing delinquencies are putting some pressure on the category.

Rising inventories and the specter of regulation may make it seem like the pandemic auto boom is over, but broader trends could make it a profitable business if banks do it right.

It is rare for banks, especially large ones, to receive unsatisfactory ratings in their Community Reinvestment Act examinations. The San Antonio bank has now done it twice in a row.

The state of Colorado has reached a $4 million settlement with Canvas Credit Union and Bellco Credit Union after the companies were accused of failing to pay refunds of guaranteed automobile protection fees due to borrowers.

Though the Phoenix-based Carvana has seen its share price plummet and sales weaken amid macroeconomic headwinds, Ally CEO Jeffrey Brown predicted the used-car retailer will "get through this" and remain an important source of business.