Auto lending

In light of the recent disbursement of nearly $40 million in grants to credit unions from The Treasury Department’s Community Development Financial Institutions Fund, Credit Union Journal surveyed some credit unions which have received CDFI grants in the past to find out how these funds are being used.

Chemical Financial and Fidelity Southern are the latest banks to curtail auto lending, blaming trends in auto sales and overheated competition.

Under Diane Morais, Ally Bank is growing deposits at a rate four times faster than the industry average.

Sandy Pierce's myriad responsibilities include managing Huntington’s 18 regional bank presidents, overseeing its private bank and leading all activities in Michigan.

Thasunda Duckett led Chase Auto Finance to record loan growth in her three-plus years as the unit’s CEO. Now she is looking to take JPMorgan Chase's consumer bank to similarly lofty heights.

The Michigan company said the branch closures will save it $20 million a year. It also plans to devote fewer resources to indirect auto, where returns have trailed other lending categories.

Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions.

An artificial intelligence model predicted creditworthiness more accurately than traditional models in an experiment conducted by the auto lender. The technology someday could be used to find hidden gems among loan applicants — emphasis on the someday.

The Canadian bank blamed flat profits at its U.S. business, which includes Chicago-based lender BMO Harris Bank, partly on Washington gridlock that has stalled pro-business reforms.

CFPB and OCC are looking at auto lenders’ policies regarding so-called GAP insurance; banks want greater collateral from retailers.

Powell downplayed fears about subprime auto lending, saying he aims to improve Santander Consumer's compliance culture, beef up customer services and expand its relationship with Chrysler Capital.

Scott Powell will lead the auto lender while continuing to serve as CEO of Santander Holdings, the U.S. division of the Spanish banking giant Banco Santander.

U.S. Bank and Wells Fargo to use Blend software to speed up mortgage origination processes; Robert Kaplan wants to keep stress tests on big banks.

SAFE FCU managed to set new auto loan volume records with a recent promotion. That growth dovetails with what's happening at credit unions across the country.

Austin, Texas-based CU has seen growth in auto, mortgage and commercial lending.

The commitments were the residue of restrictions that were placed on Ally in the wake of government bailouts in 2008 and 2009.

The bank agrees to pay $6 million to a California couple a judge said was illegally foreclosed on; do rewards programs help or hurt card issuers?

Basel Institute says enforcement is the problem; wealth adviser says bank steered clients away from her to white colleagues and blocked her promotion.

Auto, personal and credit card originations have fallen as delinquencies have risen, but researchers called the slowdown a temporary rebalancing by lenders.

The deal includes GrooveCar, GrooveCar Express, GrooveCar Direct and more.