Banking

Rising balances and annual percentage rates alongside lower FICO scores mark used vehicle loan pool.

The six biggest banks in the U.S. are expected to sell between $28 billion and $32 billion of new bonds after they report quarterly earnings, and regional banks — seeking to raise more capital — could be right behind them.

The issue is secured by a revolving pool of term and line-of-credit small-business loans made to a diverse set of industries.

The Mortgage Bankers Association attributes this to muted demand for home purchases and companies trimming their operations.

High interest rates could dampen demand for refinancing, which took a hit during the pandemic-era pause in federal student loan payments. "Curb your enthusiasm," one analyst said.

After a Supreme Court ruling, forgiveness for education debt looks unlikely but some of those exiting forbearance for it get a year-long break on credit and fees that could be helpful.

DriveTime's latest has initial hard credit enhancement that ranges from 55.70% for the class A notes to 15.40% for the class E notes, and the company just bumped up its warehouse commitment.

Rising interest rates are putting pressure on multifamily housing borrowers — especially investors who were looking for a quick return.

Sen. Elizabeth Warren, D-Mass., in a letter to the Consumer Financial Protection Bureau, challenged the idea that credit card late fees serve as a deterrent to delinquency, instead saying issuers told her office that some of them earn tens of millions of dollars collecting late fees.

The technology that powers ChatGPT can sift through and even synthesize massive amounts of data, though it must overcome doubts over reliability, transparency and regulatory risk before it can be harnessed to conduct useful research.