Auto lending

The Dallas-based subprime consumer lender backed off controversial changes to its method for calculating its quarterly provisions for loan losses, forcing it to revise earnings downward for the last two years. It also announced that it had found more accounting issues.

Competition is spurring subprime auto lenders to stretch their underwriting guidelines for new customers, raising fears of another bust. In February, 5.16% of securitized subprime auto loans were at least 60 days past due, according to Fitch Ratings. That slightly exceeded the level of late payments at the height of the Great Recession. Here's a guide to who's doing what in the market, courtesy of our colleagues at Asset Securitization Report.

Credit unions have a dominant auto lending presence in the West, boasting as much as a 50% market share in some areas. Credit Union Journal explores what is driving that dominance.

The subprime consumer lender currently rejects many of its personal loan applicants. It hopes to qualify more borrowers by offering cash to those who are willing to put their cars up as collateral.

California Republic Bancorp, which has been aggressively originating and securitizing auto loans for years, is keen on revving up the engine to expand from a 10-state area to a national platform.

Ally Financial in Detroit reached a truce with Lion Point Capital, as it agreed to appoint an independent director in consultation with the activist investor.

Chicago-based Avant said Monday that it has started offering to refinance car owners’ loans. The firm also plans to begin financing purchases of new and used vehicles later in 2016.

The increasingly troubled sector often draws comparisons to the subprime mortgage market of the 2000s. But the more apt analogue is the auto-lending sector of the 1990s.

American Banker Research's Index of Banking Activity, which had the lowest reading in its nearly four-year history in January, revealed that issues in oil-producing states are contributing to decreases in commercial loan applications and approvals.

Santander Consumer USA Holdings said that it is changing certain accounting practices after the Securities and Exchange Commission raised questions about the firm’s methodology.