Subprime lending

Gov. Mary Fallin, a Republican, sided with consumer advocates over payday lenders in a fight that is playing out in numerous states.

The weakening car-loan market poses a big challenge for the Detroit-based lender, but it also could also present an opportunity, since other big banks are sharply reducing their exposure.

Depending whose money they're using, Wells Fargo and JPMorgan Chase either love subprime car loans or fear them.

The Loan Syndications and Trading Association is appealing directly to Treasury Secretary Steven Mnuchin to exempt collateralized loan obligation managers from rules requiring "skin in the game" of deals.

Elevate Credit in Fort Worth, Texas, debuted Thursday at half the price the company had been targeting. Investors may have been spooked by the possibility of rising losses.

Steve Eisman, the Neuberger Berman Group fund manager who featured in Michael Lewis's book "The Big Short," said he's concerned about the subprime-auto market, even though credit quality across the banking system has improved significantly.

The payments giant has made a lot of money issuing loans to online shoppers with blemished credit histories. But now it is looking to reduce its risks.

The subprime auto lender funded loans through a group of car dealers that it knew had track records of high default rates and fraud, authorities in Massachusetts and Delaware said.

The Ollo card has the backing of former Citi CEO Vikram Pandit and several other big names in finance.

In a further illustration of weakness in the auto sector, Ally Financial said Tuesday that its 2017 profits will likely be dinged by rising delinquencies on subprime auto loans, as well as by falling used-car prices.