Auto insurance

In a rare move for traditional financial institutions, the Texas bank and a fintech partner will offer quotes to a subset of the bank's customers.

The deal, intended to bolster CUNA Mutual's digital capabilities, is the company's second such move in a month.

The Mass.-based institution, which recently saw a slight dip in noninterest income, will provide a variety of P&C products for members and nonmembers.

Recent legislation to lower auto insurance premiums in the Wolverine State could cut into noninterest income, but many institutions are still unclear on how much of a hit they’ll take.

The autonomous vehicle lending market isn’t expected to peak for decades, but some CUs are already jumping in, and they could be at the forefront of rapid shifts in the automotive industry.

The bank was accused of forcing borrowers to pay for insurance they did not need, pushing almost 250,000 of them into delinquency, according to a 2017 lawsuit.

First-term Rep. Rashida Tlaib, D-Mich., has sponsored the Prevent Discrimination in Auto Insurance Act in order to prevent “undue burden” on low-income individuals seeking auto insurance.

The cost of Wells Fargo's scandals continues to rise as regulators from all 50 states forced the institution to pay hundreds of millions in penalties for the creation of fake accounts, improper enrollment in life insurance, force-placed auto insurance policies and other activities.

A new finance and insurance program from Dealertrack aims to make auto lending faster for consumers, lenders and dealers.

The agency alleges the subprime auto lender violated consumer finance laws by misrepresenting the level of guaranteed insurance protection.