Consumer ABS

Online lender Social Finance is planning a second consumer-loan securitization in just over a month with a $480 million notes offering backed by $575 million in prime, high-earner unsecured personal loans.

The unusually strong loan performance in the credit card business lasted longer than many observers expected. But today the industry's prolonged post-crisis era finally appears to be over.

One of the nation's biggest banks and the so-called "everything store" have joined forces to extend loan discounts to students.

American Credit Acceptance is preparing $230 million of bonds backed by subprime auto loans, its third term securitization of the year.

Navient is contemplating another securitization of federally guaranteed student loans to borrowers who were once in arrears but are now making timely payments.

The consumer-finance startup CommonBond is doubling down on the education-debt market, which has been a pocket of tranquility in an otherwise volatile online lending sector.

Comenity Bank is marketing $333.3 million of bonds backed by credit card receivables from its World Financial Network Credit Card Master Note Trust, according to Fitch Ratings.

The Consumer Financial Protection Bureau is expected to unveil a proposal on July 28 that would regulate debt collection practices.

Consumer Portfolio Services is planning a third securitization of its subprime auto loan portfolio in 2016, amidst slightly improved underwriting conditions but growing levels of delinquencies on receivables.

Fitch Ratings and Moody’s Investors Service have assigned preliminary ratings to a €700 million, 18-month revolving securitization of unsecured consumer auto loans issued and serviced by Banco Bilbao Vizcaya Argentaria, S.A.