The Federal Reserve governor warned in a speech Saturday that lower capital requirements and lighter supervision could create a credit 'sugar high' that could spur excessive risk-taking, with potentially significant long-term consequences.
Self-employed borrowers represent just 23.1% of the pool, and liquid reserves were $858,428 compared with 21.9% and $1 million.
This series of CarMax Select Receivables notes is offering 8.42% in excess spread, a reduction from 9.85% on the CMXS 2026-A notes.
The senior notes will repay investors pro rata, and the mezzanine and subordinate notes will repay sequentially.
Members of the House Financial Services Committee pressed prudential bank and credit union regulators about the potential risks of bank lending to private credit firms in a hearing Thursday.
More than half of consumers worry about money daily, despite improved budgeting habits and, according to a Ramsey Solutions survey, declining mortgage concerns.
