Auto lending

Lawsuits can be costly and time-consuming for all parties, so many plaintiffs’ attorneys are now trying to win quick settlements for their clients by bombarding banks with letters simply threatening them with lawsuits. One plaintiffs’ attorney admits to sending 250 such letters a month.

The decisions by JPMorgan Chase, Fifth Third and other banks to keep subprime auto lending in check look wise after new delinquency data from the New York Fed.

Ally Financial in Detroit has agreed to pay $52 million to settle probes and claims related to its role as the underwriter for subprime residential mortgage-backed securities in 2006 and 2007.

Applicants for credit cards, auto loans and mortgages are more frequently being told "No," and the reason appears to be more about lenders' new marketing efforts than stricter underwriting or weaker credit profiles.

Ally Financial, one of the nation's largest automobile lenders, saw profits fall during the third quarter as more motorists fell behind on their car payments.

The online lender is entering the car-loan market at a time when some banks are scaling back and regulators are sounding the alarm about deteriorating underwriting standards.

Amid shrinking yields, rising delinquencies and repeated warnings from regulators about frothy market conditions, several banks said on earnings calls that they plan to scale back or hold the line on indirect auto lending.

TCF Financial in Wayzata, Minn., on Friday reported higher profits, mostly from gains on the sale of auto loans.

Subprime borrowers are falling behind on their car loan payments at the highest rate in more than six years, and some bonds backed by these loans are vulnerable to getting downgraded, according to S&P Global Ratings.

The 1.35% delinquency rate was the lowest since at least 2001, and it marked nearly four years of delinquencies below the 15-year average of 2.21%.

A new app aims to modernize the automobile financing process by allowing car shoppers to get credit approval on their phones.

JPMorgan Chase's Thasunda Duckett has been named chief executive officer of consumer banking as part of one of the bank's periodic management reshufflings.

The subprime auto lender continues to struggle to get its arms around accounting issues that date to 2013.

Bankers may have a reputation for being old-school, but their rapidly growing digital-ad budgets are in step with the rest of the business world. Banks can both gather valuable demographic data from who clicks on their ads and better measure returns on their investments.

The subprime auto lender Santander Consumer Holdings USA has made two key leadership moves as it faces ongoing accounting problems.

PNC Financial Services Group plans to increase consumer lending with its current tilt toward commercial loans generating lower overall loan yields.

New, stricter regulations on loans to active-duty service members take effect on Oct. 3. Here’s a guide for getting ready.

Ford Motor promoted veteran executive Joy Falotico to lead the Ford Credit lending unit, making her the first woman to run the operation that provides financing to auto buyers and dealers worldwide.

This latest offering from Chase, the U.S. consumer and commercial banking arm of JPMorganChase & Co., is in partnership with digital car-buying service TrueCar.

Santander Consumer USA Holdings again delayed its second-quarter results and financial statement due to ongoing discussions with federal regulators about accounting issues.