Consumer ABS

The potentially wide-ranging effects of an appeals court decision in Midland Funding v. Madden could deal a serious blow to preemption under the National Bank Act.

A joint venture involving the captive finance arm of French automaker PSA Peugeot Citroën and Santander Consumer UK is issuing its first UK auto financing securitization since gaining regulatory approval for operations there.

Santander Consumer USA Holding’s second subprime auto loan securitization of 2016 provides a few clues as to why the company announced Wednesday it would be pulling back its originations in the problem-credit space.

Toyota Motor Credit is issuing it second round of securitizing U.S. captive-finance auto loans this year through its Toyota Auto Finance Receivables trust in what could be between a $1.2 billion to $1.6 billion notes offering, according to a federal registration filing Wednesday.

Months after mounting an aggressive play for subprime auto borrowers, Santander Consumer USA Holdings is scaling back its presence in the market, citing aggressive risk-taking by smaller competitors.

Recent prosecutions against lenders accused of usury violations will test the government's use of a law more commonly known in organized crime cases

Flagship is marketing its fourth subprime auto loan securitization since its merger with CarFinance in January 2015, according to Kroll Bond Rating Agency.

LendingClub Corp., a pioneer of online marketplace lending, said it raised rates for borrowers again to reflect a gloomier economic outlook and worse-than-expected performance for some of its riskiest loans.

An online student loan refinancing business that was recently spun off from a Virginia bank has been rebranded as Purefy Inc.

Avant, the marketplace lender that added former FDIC Chairman Sheila Bair to its board this month, is marketing its second rated securitization of loans to consumers with less-than-stellar credit.