Consumer ABS

The Consumer Financial Protection Bureau should have direct oversight of auto dealers instead of being forced to go through indirect auto dealers to make changes to the market, Sen. Elizabeth Warren, D-Mass., suggested Wednesday.

Volkswagen Finance has completed what it is billing as the largest Spanish auto loan securitization since the financial crisis

Toyota Motor Credit Corp. has agreed to change its pricing and compensation practices and pay nearly $22 million to settle allegations it charged African-Americans and other minorities more than white borrowers for auto loans, federal regulators said Tuesday.

With only $16 billion in issuance in January, the market for new securitizations fell by $2 billion from December and is less than half of the new structured finance supply from January 2015.

The New Hampshire Higher Education Loan Corp. is readying $141.3 million of securities backed by a pool of older private student loans that have experienced high default rates, according to Moody’s Investors Service.

MotoVoto Finance, one of the U.K.’s largest players in used car financing, is preparing to market its sixth securitization of an undetermined volume of its fixed-rate consumer auto leases.

OneMain Financial is preparing to package $555.6 million of subprime consumer loan receivables in its first asset-backed securitization since its acquisition by Springleaf Financial from Citigroup was completed in November.

Exeter Finance Corp. has upped credit enhancement for its latest subprime auto loan securitization to compensate for an increase in losses on recently originated loans.

Nissan Motor Acceptance Corp. is out of the starting blocks in 2016 with a $1 billion auto loan securitization in its first pool of loans of the year.

Another online lender specializing in student loan refinancing, Earnest, is tapping the securitization market for $112 million.