Auto lending

The Irvine, Calif.-based company plans to offer subprime borrowers the ability to get an auto loan online or through a smartphone.

Santander Consumer USA Holdings in Dallas has named Ismail "Izzy" Dawood as chief financial officer.

Huntington Bancshares in Columbus, Ohio, has brought on industry veteran Tom Wirth to fill the newly created position of auto finance product and strategy director.

Banks are losing auto finance market share to captive lenders and finance companies, according to a new report from the credit bureau Experian.

The Senate is the next battleground for legislation requiring the Consumer Financial Protection Bureau to rescind 2013 guidance on indirect auto lending, but the bill may do nothing to slow enforcement efforts.

Auto-loan, commercial-mortgage-backed and other securitizations use what is known as the swaps curve to price floating-rate deals. But pricing volatility is causing some to ask whether the market should go back to Treasuries after a 15-year hiatus.

A report released by Republicans on the House Financial Services Committee accuses the CFPB of willfully overstepping the law to punish indirect auto lenders for alleged discriminatory practices that, the report says, are fair business.

The $938 million-asset company will incur $400,000 in expenses from shutting down the unit, including $300,000 for contract termination costs and $100,000 for severance and employee benefits.

The auto lender, a unit of the Spanish banking giant Banco Santander, repeatedly reassured investors that it has a handle on the subprime business.

Overall U.S. auto debt surged to $1.05 trillion in the third quarter, and the rise in subprime auto loan originations has heightened the New York Fed's concerns about that market.

Automobile lending reached its highest level ever at the end of the third quarter while showing few signs of credit weakness, the credit bureau Experian reported Wednesday.

The auto lender has changed the way it calculates its closely-watched provision for credit losses, a move that added to third-quarter profits and raised questions about the transparency of its loan book.

Ally Financial in Detroit drew more deposits into its online bank last quarter, which helped improve its lending margin even as profits declined.

Santander Consumer USA Holdings plans to exit personal lending and focus primarily on its auto-finance business.

Capital One Financial in McLean, Va., rode growth in its flagship U.S. credit card business to stronger third-quarter earnings.

Auto-lending profits helped make the quarter for Huntington Bancshares and TCF Financial, but their CEOs ended up on the hot seat, as they reported results a day after the U.S. comptroller of the currency issued another warning about declining credit quality in the market.

U.S. homeowners continue to take advantage of rising house prices to dig themselves out of the hole created by the Great Recession.

A California company called NEFT wants to provide the online meeting place where debt-laden borrowers get together with lenders and credit bureaus to negotiate repayment plans. Backed by some prominent investors, NEFT says it offers carrots to get all the parties to participate.

The Consumer Financial Protection Bureau hit an indirect auto lender and a subsidiary with $48.3 million in fines and restitution on Thursday, accusing it of deceptive collection tactics.

Lawmakers from both political parties on Tuesday sharply criticized the Consumer Financial Protection Bureau's attempt to restrict or eliminate auto dealers' ability to markup a loan by citing their partnering lenders, arguing it would result in higher prices for consumers.