Auto lending

Sen. Elizabeth Warren, D-Mass., asked Wells Fargo's chief executive to address recent reports that the bank's efforts to compensate customers for unnecessary fees is falling short.

In some states, total mortgages outstanding are at all-time highs, but in others hard hit by the financial crisis they remain well below their 2008 peaks, the New York Fed said Tuesday in its quarterly report on household debt.

U.S. consumers are borrowing more than ever to buy homes and cars, pay for college and even finance every day purchases. Is it a display of confidence in the U.S. economy or are many households living far beyond their means?

Warburg Pincus has agreed to buy a majority stake in a mortgage and consumer loan origination and servicing platform owned by Fiserv.

Banks will have to show they can withstand “severely adverse” conditions; the office will be under the direct control of acting director Mick Mulvaney.

After reporting its fourth-quarter earnings, the subprime auto lender said it expects the new tax law to enable more car owners to stay current on their loans.

The Minnesota bank was able to realize a large net tax benefit in the same quarter it took a big charge to exit auto lending, so in the end its profits doubled.

The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending.

Long called the bread and butter of credit unions, auto lending will remain a key offering, but a number of factors could point to a slowdown in the year ahead.

The online vehicle-buying program has added 250 credit union partners since 2015.

It's the 13th year in a row that the CUSO has been able to give money back to its CU shareholders, capping a record-setting year for indirect auto loan growth driven by the firm.

Total loans rose 3% at the Minneapolis bank, but its net interest margin climbed 10 basis points. It also booked a one-time accounting gain of $910 million related to tax reform.

Weak loan growth, a $3.25 billion litigation accrual and other costs tied to the phony-accounts saga all added up to a messy fourth quarter for the San Francisco bank.

The agreement marks the latest example of the banking giant teaming with a fintech to speed up delivery of services to its customers.

The late-payment rate on loans frequently used to consolidate credit card debt hit its highest level in more than four years.

Rather than jump right away into lending to car buyers, Access National will start by offering CRE and M&A financing to dealerships.

Credit unions make strategic hires, promotions to beef up their loan departments and other professionals in the news.

Credit union examiners will be focused on cybersecurity, BSA compliance, fraud prevention and more.

Mary Mack adds mortgage and auto units to her already large portfolio; futures price dips but volume up compared to Cboe’s first day of trading.

The executive tasked with reshaping Wells Fargo's embattled retail banking unit will now also be responsible for mortgage, auto and student lending.