CFPB co-founder: Agency will ‘rise from the ashes’
The immediate future is uncertain for the Consumer Financial Protection Bureau, and it might experience downsizing and less regulatory enforcement, but…
US retail sales barely rise, suggesting some spending pullback
Growth in US retail sales decelerated notably in April, reflecting consumers pulled back spending on cars, sporting goods and other…
Chase Auto originations climb 7.1% YoY
Chase Auto’s origination volume climbed year over year in the fourth quarter of 2024, driven by growth in leasing. Originations reached $10.6…
Bank of America names co-presidents, appoints CFO Borthwick EVP
Bank of America today named two co-presidents and promoted Chief Financial Officer Alastair Borthwick to executive vice president. Alastair Borthwick …
August powersport sales dip 5.4% year over year
Powersport sales worsened for more dealers in August, marking the sixth consecutive month of sales declines amid ongoing affordability headwinds…
AutoNation originations surpass $240M
AutoNation Finance’s originations increased year over year in the second quarter but cyberattacks against dealership software provider CDK Global contributed to…
Chase Auto originations up 32%
Chase Auto’s originations grew year-over-year in the fourth quarter of 2023 as the bank snagged additional market share while prioritizing…
Dealer incentives boost November sales amid affordability challenges
Holiday incentives boosted sales at dealerships, but affordability concerns and lower approvals challenged some market segments. Leading up to Black…
Fed holds rates, sees risk of higher inflation and unemployment
Federal Reserve officials held interest rates steady for a third-straight meeting and emphasized they see a growing risk of both…
Increased BNPL transparency to help better predict creditworthiness
The addition of consumer retail buy now, pay later debt obligations on credit agency reports improves auto lenders’ ability to…
Industrywide originations slip 0.4%
Economic headwinds continued to affect auto origination volume in the first quarter, but affordability concerns eased in the second quarter. …
SAFCO inks $100M Deutsche Bank facility, extends CapOne agreement
Indirect subprime lender Southern Auto Finance Co. inked a $100 million warehouse facility with Deutsche Bank this week and extended…
Podcast: An automotive business expert breaks down the Tricolor bankruptcy
As the Department of Justice investigates the alleged fraudulent claims against Tricolor Auto Acceptance, one expert warns that there may…
Floorplan ABS off to a roaring start in Q1
Floorplan asset-backed securities built momentum in the first quarter as dealer inventory improved and investor appetite for auto paper remained…
A tale of two subprime securitizers
Newbie securitizer Southern Auto Finance Co. has been strengthening its origination dynamics but has yet to score ABS loss expectations…