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…
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…
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…
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…
S&P sees high risk of Ford, GM ratings downgrade on auto tariffs
Ford Motor Co. and General Motors Co., along with nearly a dozen car-parts suppliers, are at high risk of a…
Powell opens door to interest rate cut, citing labor markets
Federal Reserve Chair Jerome Powell carefully opened the door to an interest-rate cut in September, pointing to rising risks for…
Wells Fargo commercial book grows, floorplan utilization dips amid tariffs
Floorplan financing has slowed in recent months following an uptick earlier this year amid higher inventories prior to impending tariffs…
DOJ lawyer From Google advertising case picked for key FTC job
A leading trial attorney who helped file US antitrust lawsuits against Alphabet Inc.’s Google and Apple Inc. is set to…
Hyundai Capital America takes ‘measured’ approach to insurance rollout
Hyundai Capital America is building out its insurance program after rolling out options last month. The captive in April launched…
MarineMax F&I revenue up 8.2% amid declining boat margins
Marine retailer MarineMax’s finance and insurance revenue increased in the third quarter of its fiscal year 2025, though total revenue…
GM Financial CEO Dan Berce to retire
GM Financial Chief Executive Dan Berce will retire in mid-April after 35 years with the lender. Dan Berce (Courtesy/GM Financial)…
Big Wheels: Auto outstandings rise 2.4% in Q1
Auto outstandings fell 0.2% sequentially but increased 2.4% year over year in the first quarter of 2024. Motor vehicle loan…
Fed’s Favored Inflation Gauge Cools, Spending Unexpectedly Drops
The Federal Reserve’s preferred measure of underlying US inflation moderated in April and consumers dialed back their spending, supporting plans…
Auto parts supplier Marelli files for Chapter 11 bankruptcy
Marelli Holdings Co., the struggling auto parts supplier for Nissan Motor Co., Stellantis NV and other carmakers, has filed for…
Strong US payrolls and wage growth push back bets for Fed cuts
US job growth surged in May and wages accelerated, prompting traders to push back the expected timing of Federal Reserve…