Auto lending

California Republic Bancorp in Irvine has securitized $380 million of its prime auto loans.

Ally Financial, seeking new sources of customers, will finance used cars sold through Beepi, an 18- month-old website that lets people buy vehicles with a few clicks and no test drive.

Bank officials say they are ready for rising rates; disagree on how much the initial increase would help or hurt lending and the economy; and predict more rate increases next year.

The Irvine, Calif.-based company plans to offer subprime borrowers the ability to get an auto loan online or through a smartphone.

Santander Consumer USA Holdings in Dallas has named Ismail "Izzy" Dawood as chief financial officer.

Huntington Bancshares in Columbus, Ohio, has brought on industry veteran Tom Wirth to fill the newly created position of auto finance product and strategy director.

Banks are losing auto finance market share to captive lenders and finance companies, according to a new report from the credit bureau Experian.

The Senate is the next battleground for legislation requiring the Consumer Financial Protection Bureau to rescind 2013 guidance on indirect auto lending, but the bill may do nothing to slow enforcement efforts.

Auto-loan, commercial-mortgage-backed and other securitizations use what is known as the swaps curve to price floating-rate deals. But pricing volatility is causing some to ask whether the market should go back to Treasuries after a 15-year hiatus.

A report released by Republicans on the House Financial Services Committee accuses the CFPB of willfully overstepping the law to punish indirect auto lenders for alleged discriminatory practices that, the report says, are fair business.