Auto lending

Credit Acceptance Corp., the lender to car buyers with subprime credit scores, warned it's seeing a sharp drop-off in payments as people shift their financial priorities to get through the coronavirus pandemic.

After more than tripling its loan-loss provision, the $182 billion-asset company became the first large U.S. bank to report a quarterly loss as a result of the coronavirus pandemic.

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Closed showrooms, temporary bans on repossessions and a sudden spike in unemployment have dimmed the prospects of a sector that has boomed since the last recession.

Car loans make up about a third of credit unions' total lending portfolio, and any drop in that sector could resonate across the entire industry.

The CEO says he is getting stronger and working remotely; if the lockdown lasts several months, the GSEs may need a bailout, FHFA head Mark Calabria says.

Last month's enforcement actions included the former CEO of Western Heritage Federal Credit Union in Alliance, Neb.

Ball State FCU has announced plans to merge into Financial Center First CU following losses tied to high charge-offs, particularly in the used car area.

Sens. Sherrod Brown and Elizabeth Warren criticized Director Kathy Kraninger for not issuing any public enforcement actions against auto lenders during her tenure.

With prices rising rapidly and loan terms increasing, some institutions may want to consider adding a leasing option to their auto loan portfolio.

Credit unions that don't embrace digital retailing as part of their auto lending strategy will end up spinning their wheels.

Black-owned OneUnited is getting grief for its depiction of the abolitionist on a debit card; the bank plans $4.5 billion in cost cuts, with 35,000 jobs cut.

Depending on one's perspective, the surge in consumer borrowing is either a normal byproduct of a booming economy or a worrisome trend that portends a wave of delinquencies when the next downturn hits.

Mortgages, auto loans and credit cards should perform well for the next two quarters. Beyond that, all bets are off.

The expansion comes after a year in which net income at the Nashville-based credit union dropped by more than half amid a rise in delinquencies and charge offs.

Slowing sales, decreasing market share and other factors could make it harder for credit unions to grow one of the industry's biggest products in the year ahead.

Loans made for Fiat Chrysler represented the largest chunk of Santander Consumer's lending in the fourth quarter, and Mahesh Aditya said their relationship is his top priority.

The percentage of consumers who are past due on home equity loans, RV and other personal loans also rose in the third quarter, data released by the American Bankers Association showed.

Roughly 55% of Michiganders belong to a credit union but growth rates in the state continue to slow.

A new report from the National Credit Union Administration's Office of the Inspector General outlines what to expect in the year ahead following some 2019 scandals.