Consumer ABS

The Wall Street firm believes that its gold-plated brand will help attract middle-class borrowers.

Toyota Motor Credit is marketing another $1.25 billion of bonds backed by retail auto loans.

The new deal structured by the General Motors Financial Co. subsidiary includes more loans to borrowers with 600-plus FICO scores as well as to those populating the higher end of AmeriCredit’s internal scoring tables. AMCAR also features slightly fewer loans over 60 months, and a higher weighted average APR.

Marketplace lenders' share of the consumer and small-business loan markets is small now, but is expected to grow substantially in the coming years. Banks looking to get in on the action have two choices: team up with these established players that have already perfected the technology or try to beat them at their own game

Conn’s Receivables Funding 2016-B is comprised of three tranches of notes sized at $552.78 million, including $391.84 million in Class A notes receiving a provisional ‘BBB’ rating from Fitch Ratings. Fitch has capped the senior notes because of Conn’s higher loan defaults, management changes and credit-risk profile deterioration in recent years.

Takata’s ongoing recall of airbags puts bonds backed by auto leases at increased risk of losses, Moody’s Investors Service warns. Bonds backed by auto loans have only minimal exposure, however.

The Consumer Financial Protection Bureau on Monday fined a large auto title lender $9 million for failing to disclose the terms and costs of its title loans in three states and for illegally exposing consumers' information to their employers.

The portfolio’s structure includes a €930 million Class A notes stack carrying a floating rate coupon and provisional triple-A ratings from DBRS and Moody’s Investors Service.

Beleaguered subprime auto lender Santander Consumer USA is once again restating its financial results dating to 2013.