Auto lending

The post-recession boom in auto loans and credit cards for borrowers with marred credit histories has been winding down in recent months.

Auto lenders would be well advised to keep up their guard as states — particularly blue ones — take steps of their own to crack down on what they see as abusive practices.

The agency’s 2013 guidance is frequently portrayed as either an overdue push to stamp out lending discrimination or a case study in regulatory overreach. In truth, its impact was minimal.

Record originations on "better-yielding" used-car loans helped drive a 14% increase in its first-quarter profit. But Ally's shares were down Thursday on concerns of rising deposit costs.

Acting Consumer Financial Protection Bureau Director Mick Mulvaney announced a trio of significant changes to the CFPB.

The legislation would prohibit the CFPB from penalizing institutions that rely in good faith on guidance from the bureau.

Tim Russi played a key role in the company’s transition away from its once-close relationship on General Motors. He will be succeeded by Doug Timmerman, a 32-year Ally veteran.

The $185 million transaction features a higher exposure to borrowers entering bankruptcy than the sponsor's 2016 deal; it's also more seasoned, since it recycles 2014 collateral.

The Senate voted Wednesday to block guidance issued by the Consumer Financial Protection Bureau in 2013 that was meant to stop discriminatory markups on indirect loans made by car dealers.

As the Senate closes in on overturning the Consumer Financial Protection Bureau's 2013 indirect auto loan rule, a central question is how lasting the congressional measure will be in limiting the CFPB's authority.

Sixty-four consumer groups are speaking out against a Senate measure, expected to be voted on this week, that would overturn the Consumer Financial Protection Bureau's 2013 regulation on discriminatory pricing by auto lenders.

The subprime auto lender failed to disclose that it received fees for referring borrowers to CarMax, the used-car dealer, according to California's financial regulator.

The weighted average FICO of 750 is the highest of any post-recession securitization from Hyundai Capital Americal, the joint captive-finance lender for U.S. Hyundai and Kia dealers.

The transaction is the second this year involving Santander's Chrysler Capital preferred-lender unit; in January Santander sold bonds on its first-ever deal backed by Fiat Chrysler leases.

The subprime auto lender paid $2.9 million to Connecticut consumers and a $100,000 fine for miscalculating balances owed on repossessed cars and for charging improper fees. It says the settlement is part of an effort to clean up "legacy issues."

The three offerings push the first-quarter volume of subprime auto loan asset-backeds past $5 billion, an indication of unwavering demand for the risky asset class.

The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending.

The credit quality of the collateral appears to have improved, but investor protections have also decreased; as a result, Kroll is only assigning an 'A' to the senior tranche of notes.

The deal is the first vehicle loan securitization for the London affiliate of South Africa's FirstRand Group since November 2016.

The Salt Lake City-based lender homes in on troubled borrowers whose subprime status is primarily tied to a recent bankruptcy protection filing.