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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.
April 6
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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.
March 31
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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.
March 31
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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.
March 29
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The Ollo card has the backing of former Citi CEO Vikram Pandit and several other big names in finance.
March 27
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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.
March 21
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The Kennesaw, Ga.-based firm, which makes online installment loans to borrowers with blemished credit records, currently operates in 14 states.
March 7 -
Longer loan terms may be compounding losses when cars are repossessed, a portfolio manager says.
March 1
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The Dallas-based lender is planning to boost originations to borrowers with solid credit scores amid fears that the subprime auto market is overheating.
February 23
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The auto lender also said originations fell 24% due to intense competition.
January 25
