First Merchants Acceptance Corp. is facing bankruptcy as its lenders cut their connection to subprime auto finance.

The troubled subprime auto lender's financial bailout package failed to materialize Thursday after its new lender, Greenwich Capital Markets Inc., decided to pull out.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.