Auto lending

In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.

Goldman Sachs and Obra Capital are providing loan funding, and the Crescent Auto Finance acquisition brings a technology platform and loan portfolio.

The Consumer Financial Protection Bureau received pointed pushback from banks in their public comments on a proposed rule that would slash the number of nonbanks being supervised in four key markets.

The AI-powered auto lender is the latest fintech to debut an IPO in recent months, even as a different auto lender filed for bankruptcy this week.

Origin Bancorp, Renasant Bank and Triumph Financial are the latest financial institutions to report exposure to the bankrupt auto lender Tricolor, joining a list that includes Fifth Third, Barclays and JPMorganChase.

While the CPSART program, especially the 2022 and 2023 series, was performing worse than its initial or revised expectations, the 2025-C collateral was relatively better.

While other European-based banks have retreated from the United States, Santander is doubling down by building out its nationwide digital-banking platform. "Unequivocally," said U.S. CEO Christiana Riley, "the opportunity … is so clear."

Southern Auto Finance uses a heavily automated origination process that puts applicants through several rounds of vetting, including income and employment verification.

Outstanding loans eligible for repossession in December 2022 saw a 22.5% increase from December 2019, but redemptions were higher than pre-pandemic levels.

About $2 billion changes hands daily for the sale of new motor vehicles in the U.S., making auto dealers a prime use case for faster payments. So why aren't more using it?