Auto lending

The latest deal from the sponsor's DRIVE platform for deep subprime loans benefits from recent improvements in underwriting; both S&P and Moody's have lowered loss expectations.

Automating the loan application process is a potentially game-changing development that could put more car shoppers in control of which bank or credit union finances their purchase.

The agency alleges the subprime auto lender violated consumer finance laws by misrepresenting the level of guaranteed insurance protection.

Both S&P and Moody's have cut expected losses on $732 million deal, yet credit enhancement on the senior tranches is unchanged from the prior deal.

The bureau says it lacks explicit authority to conduct routine supervision of lenders’ compliance with service member protections, but the decision has sparked pushback from the Defense Department and groups representing military personnel.

Toyota Financial Services has promoted a company insider to replace Mike Groff, who is retiring at the end of this month.

Bank of America’s consumer loans grew a lot. But its rivals? Not so much. The mixed results raise questions about whether BofA’s performance is a leading or trailing indicator, and if credit quality is going to be more of a problem industrywide.

The Dallas auto lender might lose as much as one-third of its business if it severs ties with the automaker, raising fresh questions about whether its parent company will buy out shareholders and take full ownership.

The subprime lender could lose a big partner now that Fiat Chrysler has officially announced it will form its own auto finance unit, and the two are negotiating an end to their 6-year-old relationship.

Fiat Chrysler is expected to announce Friday that it will establish its own captive finance unit in the U.S. The move could be bad news for its lending partners.