Bank of America’s consumer loans grew a lot. But its rivals? Not so much. The mixed results raise questions about whether BofA’s performance is a leading or trailing indicator, and if credit quality is going to be more of a problem industrywide.
Fiat Chrysler is expected to announce Friday that it will establish its own captive finance unit in the U.S. The move could be bad news for its lending partners.
The class-action lawsuit filed by investors alleged that bank executives deliberately failed to disclose the full nature of its cross-selling practices to shareholders.
Record originations on "better-yielding" used-car loans helped drive a 14% increase in its first-quarter profit. But Ally's shares were down Thursday on concerns of rising deposit costs.
The subprime auto lender failed to disclose that it received fees for referring borrowers to CarMax, the used-car dealer, according to California's financial regulator.
Citigroup plans to launch an online bank that will be marketed nationally. It is one of several large companies with an online bank or niche platform in operation or on the drawing board.
Stepping in after co-founder Mike Cagney's resignation, Twitter's Anthony Noto needs to overhaul the firm's corporate culture, lay the groundwork for an IPO and determine whether to renew SoFi's pursuit of a bank charter.
