Subprime auto loans will repay the outstanding notes, and the collateral pool includes changes such as 85.67% of originated loans in the current pool, with a cutoff date of September 30, falling within CPS' top five credit tiers.

Regardless of HAROT 2023-4's issuance amount, which could reach $1.8 billion, all of the notes have total initial hard credit enhancement levels of 2.75%, and a reserve fund of 0.25%.

DriveTime is a longtime issuer, but Bridgecrest Lending Auto Securitization is the first securitization of the sponsor's assets that Bridgecrest Acceptance services.

The moves will result in a number of job cuts, though the company doesn't yet have firm targets for how many employees will be affected.

Notes will repay principal to investors sequentially. All junior notes will be shut out from receiving any principal payments until the immediate senior notes are paid.

The issuer underwriting (UW) rent for data center space is about 17.9% below the sponsor's market rent estimates, leaving potential opportunities for further rent revenue increases.

The current transaction is shaping up to be a smaller deal with higher quality assets, compared with the CMLTI 2022-RP4.

TD Bank, the U.S. unit of the Canadian bank, has hired Christopher Fred as its new head of U.S. credit cards and unsecured lending. The bank's retail partners include Target and Nordstrom.

Corporations are navigating shifting geopolitics, and M&A bankers are advising them as they consider selling off faraway units and focusing more on assets closer to home or in friendlier countries.

The move from Republican senators mirrors an effort launched in the House, where Citibank also provides credit cards for congressional business. Republicans will be unable to enact such changes unless they take either chamber in upcoming elections.

Citigroup said a full review conducted after the lender mistakenly sent $900 million to a group of investment firms concluded the bank didn’t need to claw back any pay from executives.

Citigroup restated fourth-quarter results after writing down a portion of a loan to Revlon it now owns after losing a court battle.

A back-office blunder is leaving the financial behemoth faced with the prospect of becoming one of the biggest creditors to the troubled cosmetics empire.

Citigroup unexpectedly lost a legal battle to recover half a billion dollars it sent Revlon lenders, after the embarrassing blunder forced it to answer to regulators and tighten its internal controls.

Win or lose, Citibank’s battle to recover half a billion dollars from an accidental payment is sure to prompt a review of internal controls in the industry and could have a lasting impact on the more than $1 trillion syndicated loan market.

A trial to get underway this week over one of the biggest banking errors in recent memory will be closely watched on Wall Street, and its outcome could have a significant impact on the industry.

Citigroup's realty arm is sponsoring a $1.06 billion RMBS of highly seasoned mortgage loans with troubled histories. All of the loans were acquired via a Fannie whole-loan auction.

Jane Fraser, a longtime Citigroup executive, will be the first female CEO of a major Wall Street bank. She succeeds Michael Corbat, who had held the post for eight years.

The bank — which said it has been upgrading its loan operations platform after a review it undertook last year — said it mistakenly transmitted the payments after an employee didn't manually select the correct system options in its loan operation software.

Citigroup scored court orders freezing almost half of the more than $900 million it says was accidentally sent to Revlon lenders this month.