Consumer ABS

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.

In the previous three years, DriveTime has not exceeded three auto loan securitizations in one year. With three months remaining in 2016, the subprime auto lender is already on deal No. 4.

A pool of credit card receives issued by Group BPCE’s Natixis Financement unit are being securitized in the second-ever issuance through the Purple Master Credit Cards, FCT in France. The €651 million transaction mostly consists of €550 million in a Class A2016-1 series of notes.

Zopa, an online lender based in the U.K., is marketing £138 million of bonds backed by unsecured consumer loans, according to Moody’s Investors Service.

Two recent court decisions that curtailed controversial debt collection and payday lending policies could wind up impacting leading marketplace lenders, no matter their distance from such abusive and predatory practices.

For investors who were intrigued by the launch of Verizon’s first-ever handset securitization offering in July, an executive for one of the deal’s underwriters deal had a message: Stay tuned.

The subprime auto lender Santander Consumer Holdings USA has made two key leadership moves as it faces ongoing accounting problems.

Unfavorable court decisions, heightened regulatory attention and a thumb’s down from famed “Big Short” personality Steven Eisman are making no dent in the enthusiasm for marketplace lending (MPL) securitization.