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The ratings firm also took negative action with respect to Ally, Synchrony, Discover, Sallie Mae and Navient, citing the impact that the coronavirus crisis is having on their revenues and profits.
April 29 -
Closed showrooms, temporary bans on repossessions and a sudden spike in unemployment have dimmed the prospects of a sector that has boomed since the last recession.
April 8 -
The average price of a previously owned car has fallen in two consecutive months, and if the trend continues, lenders could see losses mount, Richard Fairbank said this week.
December 12 -
After rising between 2016 and 2018, the card issuer's charge-off rates are now steady. The trend reflects both the impact of tighter underwriting standards and the continued resilience of U.S. consumers.
July 19 -
The lender has not sponsored an asset-backed transaction since 2007, according to presale reports.
May 15 -
Executives from Ally Financial and Santander Consumer USA gave rosy outlooks about 2019 consumer trends, while other banks that rely less heavily on car lending offered more cautious appraisals.
February 1 -
In selling its Walmart credit card portfolio to Capital One and extending a partnership with Sam’s Club that appeared to be in peril, Synchrony Financial avoids an expensive legal battle with the world’s largest retailer.
January 23 -
The Stamford, Conn., issuer of store credit cards has two potential options after the retail giant chose to partner with Capital One. But the decision over which path to take is out of its hands.
July 27 -
Dark clouds may not yet be on the horizon, but industry executives are sending the message to investors that they know a turn in the credit cycle is coming, and they are planning accordingly.
May 31 -
Capital One Financial will stop originating mortgage and home-equity loans after competition made it difficult for the businesses to be profitable.
November 7