Fed’s 25 bps cut may provide ‘modest tailwind’ for consumer credit
The national average for interest rates for new- and used-vehicle loans declined again in September as the Federal Reserve cut…
CFPB to cut financial firm supervision, curb fintech focus
America’s top consumer financial watchdog has spelled out its priorities under the Donald Trump era, including a dramatic cut to…
Honda-Nissan deal thrown into doubt weeks after talks began
Honda Motor Co. and Nissan Motor Co. called into question an agreement reached less than two months ago to consider…
Fed holds rates steady, pausing for further inflation progress
Federal Reserve Chair Jerome Powell said officials are not in a rush to lower interest rates, adding the central bank…
Sale of Tricolor vehicles — worth $125M — to begin
In the first bankruptcy court hearing after the indictment of several Tricolor executives, Judge Michelle Larson allowed the sale of…
A new standard for excellence in US auto finance originations
Alfa, a pioneer in technology for automotive finance, has announced the introduction of Total Originations for the US auto finance…
Chase Auto’s Wims Morris takes over as CEO
Chase Auto’s Leslie Wims Morris today has taken over as chief executive and Peter Muriungi leads JPMorgan Chase’s Connected Commerce…
Credit union repo assignments on the rise
Repossession agencies are receiving more assignments from credit unions as delinquencies rise nationwide. Houston-based Automobile Recovery Bureau has seen more…
EV lease penetration nears half of sales
Leasing volume continues to be a driving force behind EV adoption, buoyed by federal tax credits and lower monthly payments. …
Fed officials dial back rate forecasts, signal just one ’24 cut
Federal Reserve officials penciled in just one interest-rate cut this year and forecast more cuts for 2025, reinforcing policymakers’ calls…
US banks prepare for new era of consumer financial data sharing
US banks will now have to give customers access to their financial data after the top consumer watchdog finalized a…
Auto loan rates dip, tariff-driven inflation clouds outlook (Big Wheels)
Auto loan interest rates for both new and used vehicles declined year over year in March, but rising inflation, partly…
RVIA lowers yearend shipment estimates
The RV Industry Association has lowered its expectations for yearend wholesale shipments given that high interest rates continued to hamper…
CFPB priority shift won’t absolve lenders
The latest shift in focus from the Consumer Federal Protection Bureau should prompt auto lenders to pay close attention to…
US jobless claims fell a fourth week during July 4 holiday
Applications for US unemployment benefits fell for a fourth week to the lowest in two months during a period that…