FIs, regulators rev up anti-fraud strategies
The democratization offered by AI is making it easier for low-skilled, inexperienced bad actors to launch high-impact schemes. Even the…
Chase originations fall 2% year over year
Chase Auto’s origination volume fell year over year in the third quarter while delinquencies inched up. Originations dipped to $10…
Podcast: Synthetic fraud rises in powersports, auto
Auto originations have picked up industrywide even as average payments remain elevated, while manufacturers are increasing incentives to move inventory….
Stellantis Financial Services’ CEO on becoming ‘true captive’
Stellantis Financial Services grew the new captive’s portfolio significantly in 2023 and is focused on attracting dealers to its “true…
Big Wheels: Stellantis Financial Services’ portfolio grew 243% in 2023
Newly formed Stellantis Financial Services led all captives in portfolio growth on a percent change basis in 2023, driven by…
BRP North American retail sales dip 11% year over year
Canadian powersports manufacturer Bombardier Recreational Products’ North American retail sales declined year over year in the third quarter of fiscal…
Synchrony’s Medrano: High inventory pressures back-end operations
The combination of high interest rates and elevated inventory levels has applied pressure to the back end of the powersports…
Huntington Bank auto originations up 83%
Regional bank’s’ fourth-quarter earnings primarily showcased growth in auto finance, mirroring similar results reported by national banks this week. Bank…
Automotive Credit Corp. lays off 12 employees
A dozen Automotive Credit Corp. employees were reportedly laid off today following the company’s decision to pause originations last month….
Slumping Bain-backed BRP makes bet on quiet electric motorbikes
Snowmobile manufacturer BRP Inc. hasn’t made a motorcycle in nearly four decades, but the company believes growing interest in electric…
Fed cites lack of progress on inflation, holds rates steady
The Federal Reserve signaled fresh concerns about inflation while indicating it was likely to keep borrowing costs elevated for longer…
5 questions with … Reggie Branch, Arvest Bank senior director of indirect lending
Reggie Branch, senior director of indirect lending at Arvest Bank, is striving to lead his team with kind, transparent and…
Tesla soars while EV rivals slump as Trump win upends market
Tesla Inc. shares surged as investors wagered Donald Trump’s return to the White House will benefit Elon Musk’s company —…
Truist names new regional leadership, other staff moves
Truist has appointed Thomas “T.J.” Hughes as its new regional president for Greater Washington and Maryland, leading the commercial community…
US initial jobless claims fall to eight-month low to end 2024
Initial applications for US unemployment capped 2024 at an eight-month low, reflecting the relatively muted levels of job cuts in…