Auto lending

Competition is spurring subprime auto lenders to stretch their underwriting guidelines for new customers, raising fears of another bust. In February, 5.16% of securitized subprime auto loans were at least 60 days past due, according to Fitch Ratings. That slightly exceeded the level of late payments at the height of the Great Recession. Here's a guide to who's doing what in the market, courtesy of our colleagues at Asset Securitization Report.

Credit unions have a dominant auto lending presence in the West, boasting as much as a 50% market share in some areas. Credit Union Journal explores what is driving that dominance.

The subprime consumer lender currently rejects many of its personal loan applicants. It hopes to qualify more borrowers by offering cash to those who are willing to put their cars up as collateral.

California Republic Bancorp, which has been aggressively originating and securitizing auto loans for years, is keen on revving up the engine to expand from a 10-state area to a national platform.

Ally Financial in Detroit reached a truce with Lion Point Capital, as it agreed to appoint an independent director in consultation with the activist investor.

Chicago-based Avant said Monday that it has started offering to refinance car owners’ loans. The firm also plans to begin financing purchases of new and used vehicles later in 2016.

The increasingly troubled sector often draws comparisons to the subprime mortgage market of the 2000s. But the more apt analogue is the auto-lending sector of the 1990s.

American Banker Research's Index of Banking Activity, which had the lowest reading in its nearly four-year history in January, revealed that issues in oil-producing states are contributing to decreases in commercial loan applications and approvals.

Santander Consumer USA Holdings said that it is changing certain accounting practices after the Securities and Exchange Commission raised questions about the firm’s methodology.

Personal income gains, coupled with historically low interest rates, should help cushion borrowers and reduce the likelihood of a rise in defaults despite the recent increase in auto lending, according to a new report from London-based Capital Economics Ltd.

Their top executives sure don't. Income streams are constrained in every business line, the economic picture remains murky, and big banks are talking about cutting more expenses again.

HarborOne Bank, a mutually owned co-operative bank in Brockton, Mass., plans to sell shares to the public.

During the fourth quarter of 2015, U.S. auto loans carried longer terms, while average monthly payments rose, and a larger percentage of loans went to less creditworthy borrowers, according to a new report from Experian Automotive.

Santander Consumer USA Holdings delayed the filing of its annual report Monday amid discussions with the Securities and Exchange Commission regarding unresolved accounting issues.

The Houston-based institution plans to build profit into the repayment agreement for a loan, with profit replacing interest, under the model of other Muslim-based lenders.

More borrowers with spotty credit are failing to make monthly car payments on time, a troubling sign for investors who have snapped up billions of dollars of securities backed by risky auto debt.

Shoppers who finance the purchase of cars, furniture and home improvements are protected under a decades-old federal regulation. Now consumer groups are urging the FTC to update its rule and consider offering the same protections to victims of home-mortgage or auto-leasing scams.

Key differences in the CFPB's agreements with Toyota and Honda are making it harder for the CFPB to make systemwide changes to the auto lending market. Here's why.

The Detroit company is plowing ahead with its growth strategy at a time when some shareholders are agitating over its sagging share price.

In an interview, Comptroller Thomas Curry expressed concern about eroding loan standards and the potential for crippling cyberattacks. But he also argued that the industry is much stronger than it was a decade ago.