Podcast: ‘Weekly Wrap’ on Auto Finance Summit East 2024
Gaining operational efficiencies through artificial intelligence, navigating a challenging EV market and embracing the return of leasing were top themes…
AutoNation Finance issues first ABS deal at $700M
AutoNation Finance on May 21 issued its inaugural auto asset-backed securitization deal, a $700 million transaction backed by prime auto…
Podcast: ‘Weekly Wrap’ on credit tightening, performance
The auto finance industry continues to face a tightened credit environment, worsening credit performance and recoveries, and shrinking subprime market…
Auto delinquencies rise 88 bps across securitized nonprime loans
Early-stage delinquencies rose across prime and nonprime securitized auto loans in October, while net losses improved, and auto asset-backed securitization…
Auto origination volume varied across banks in Q4
Origination volumes in the fourth quarter were mixed across the banks that reported auto lending metrics as some institutions tightened…
Fed chair explains how ‘consensus statement’ guides policymakers, especially during changing economic times
While acknowledging “the economic environment has changed significantly since 2020,” Federal Reserve chair Jerome Powell reiterated how policymakers approach their work associated with interest rates and other matters while being guided by what’s known as “the consensus statement.” Finalized in … [Read More]
10 more highlights of Westlake’s successful 2022
A week after highlighting the 2022 successes of one of its divisions, Westlake Technology Holdings announced strong 2022 results from all companies on Thursday. Executives highlighted each company generated steady year-over-year growth, improved operational efficiency and implemented of new programs … [Read More]
Tomorrow migrates brokerage from Solaris to fintech lemon.markets
German fintech lemon.markets is entering the Brokerage-as-a-Service segment with its first banking partner, sustainable banking provider Tomorrow, moving across from Solaris.
CDK tells customers dealer system likely down until June 30
Car dealerships crippled by a cyberattack on software provider CDK Global probably won’t have their systems restored until the end…
Subprime lender PrimaLend’s unpaid creditors eye bankruptcy push
Creditors of PrimaLend, which provides financing to auto dealerships that cater to subprime borrowers, are weighing pushing the firm into…
America’s Car-Mart originations dip 3.3% YoY
America’s Car-Mart employed enhanced underwriting standards across nearly 72% of its portfolio in the first quarter as the retailer focused…
EY: Sustainable goals in finance won’t be met with traditional behaviours
Financial services firms must evolve their mindsets to both manage risk effectively and to ensure that the industry meets sustainable goals, according to Sandy Trust, sustainable finance consulting lead at EY and deputy chair of the IFOA’s Sustainability Board.
Nacha and JP Morgan’s Kinexys collaborate on account validation
US clearing house Nacha is working with JP Morgan’s Kinexys blockchain business to facilitate information exchange between their respective payment information networks.
Most traditional asset managers favouring centralised stablecoins
Growing from a market capitalisation of $130 billion to $280 billion since the end of 2023, Stablecoins continue to grow in relevance. Recent regulatory framework introductions have begun to go further and introduce their adoption within broader applications across traditional finance.
Embedded Finance market to be worth $22bn by 2028
The market for embedded finance is forecast to grow by 148% over the next five years, according to a recently published study.