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Lenders have spent months puzzled by the persistently low delinquencies on their credit cards. Now, they’re seizing the moment.

Deals, trends and research in structured finance and asset-backed securities for the week of Oct. 16-22

With the COVID-19 pandemic creating unprecedented challenges for small businesses, American Express has increasingly targeted its investments in that niche.

Wells Fargo is exploring the sale of its asset management unit, a business that could fetch more than $3 billion, according to a person briefed on the matter.

The agency’s consolidation of supervision and enforcement policy into one office could compromise the independence of those deciding when to investigate alleged wrongdoing by banks and others, critics of the move say.

Like previous deals, the trust will have a revolving pool of assets for up to two years, in which sponsor Cellco Partnership (doing business as Verizon Wireless) can replace paid-off agreements with new agreements that meet minimum pool standard requirements.

Mortgage rates fell this week to another record low, and are now over a full percentage point below where they were five years ago, according to Freddie Mac.

As of the end of July, there were more than 1 million past-due mortgages not in forbearance plans, and the majority likely would have qualified for forbearance under the CARES Act.

According to ratings agency presale reports, Flagship will sell $303 million in bonds from a $314.8 million of loan originations by Flagship as well as its CarFinance.com subsidiary.

The European Union's first social bond sale, totaling 17 billion euros, was 14 times oversubscribed, meaning the EU could have sold 200 billion euros worth of bonds. That indicates a market that’s structurally underserved.