Ford’s CEO sees Trump policies cutting US EV market in half
Ford Motor Co.’s leader warned of a bleak outlook for electric vehicles as President Donald Trump’s policies breathe new life…
Tricolor collapse sends Fifth Third on a hunt for bad collateral
Tricolor Holdings’ chaotic collapse and potential double-pledging of autos to creditors sent Fifth Third Bancorp executives on a “house-to-house” search…
Saudi BNPL startup Tabby increases valuation to $4.5bn
A secondary share sale has seen the valuation of MENA-based financial app Tabby rise to more than $4.5bn.
Big Wheels: New-, used-vehicle loan rates rise more than 50 bps
Auto loan interest rates on new and used vehicles inched down sequentially in May but remained higher than rates reported…
Open Lending lands partnerships with Automatic & CreditSnap
Open Lending Corp. finalized a pair of partnerships before closing the first month of the year. First, the provider of risk analytics solutions for financial institutions launched a partner integration with CreditSnap, a fintech platform that can allow financial institutions … [Read More]
Coinbase buys crypto investment platform Echo
Coinbase has acquired crypto investment platform Echo for around $375 million in cash and stock.
Russia-linked fintechs hit with US sanctions
The US government has imposed sanctions on 13 fintechs for offering crypto-based services to Russian firms looking to evade the economic restrictions in place since the outbreak of war in Ukraine.
SEC slaps Oracle with $23m fine for alleged bribery
The Securities and Exchange Commission (SEC) has announced settled charges requiring Oracle to pay $23 million, following the company’s violation of provisions in the Foreign Corrupt Practices Act (FCPA).
Ally Financial originations climb 7.6%
Ally Financial’s fourth-quarter auto originations climbed year over year as the bank prioritized its auto lending business. The Detroit-based lender’s…
Fed governor reiterates when interest rates might soften
Earlier this week, one of the members of the Federal Reserve Board of Governors made her third public appearance since Thanksgiving; this time hinting when interest rates might soften. Michelle Bowman gave a speech during the South Carolina Bankers Association’s … [Read More]
Morgan Stanley agrees to pay $900m for employee stock plan manager
Morgan Stanley has struck a $900 million cash deal to buy Solium Capital, a Canadian provider of cloud-enabled share plan administration services.
Ex-N26 staffers raise €35m for embedded finance startup
Finmid, a German financial infrastructure provider targeting B2B marketplaces, has emerged from stealth with €35 million in early-stage equity funding.
Tesco Bank sells credit cards, loans and savings operations to Barclays
The £600 million deal has an “initial” agreement lasting 10 years.
US Chamber & 3 banking associations push back against CFPB’s changes to UDAAP manual
The American Bankers Association, the Consumer Bankers Association, the Independent Community Bankers Association and the U.S. Chamber of Commerce collaborated to compile a 21-page white paper and sent it to the Consumer Financial Protection Bureau (CFPB). The paper made the … [Read More]
Increased new-car sales, ABS issuance lead to 32% jump in industry performance (Big Wheels)
A jump in new-vehicle sales and higher auto asset-backed securitization volume contributed to a year-over-year improvement in the auto finance…