Auto lending

Brown has been with the online lender almost since it was spun off from General Motors, helping it broaden its product offerings and take a stand on overdraft fees. Now he must help Ally confront a looming recession.

The Consumer Financial Protection Bureau claimed that Hyundai Capital America hurt borrowers by incorrectly reporting they were late on payments.

Credit unions enjoyed especially strong loan demand from car buyers — helping to push overall loan growth to twice the rate of what banks saw in the first quarter — following a lull stemming from pandemic-era setbacks.

Loans to car sellers plummeted earlier in the pandemic due to chip shortages that hampered vehicle production. But supply improvements since last fall have fueled the start of a rebound.

A lawsuit filed by Attorney General Maura Healey last year said Credit Acceptance Corp. in Michigan made predatory loans to Bay State borrowers and used deceptive practices to collect debt.

Subprime borrowers whose credit scores have risen since they bought their cars are increasingly looking for a better deal. Credit unions and small banks are seizing the opportunity, often with the help of fintechs.

The price for the 20% stake in Santander Consumer USA Holdings that Santander does not already own is significantly higher than what the buyer first offered in July.

Tanya Sanders, who joined the company in 2019, takes the reins as the division's loan growth is on an upswing. She will succeed Laura Schupbach, who is retiring after 26 years at Wells.

The Detroit company, one of the nation's largest car lenders, enjoyed a surge in profits during the second quarter, largely due to strong consumer demand for vehicles. But how long will the good times last?

The Spanish bank’s U.S. holding company said it will pay a premium to purchase the publicly traded shares in Santander Consumer Holdings. The proposal is subject to the approval of the auto lender’s board of directors.