Banking

Investors are reacting skeptically to the auto lender's deal to acquire CardWorks for $2.65 billion.

The deal for Boston-based Radius would be the first in history in which an online lender buys a mainstream bank.

Credit unions have seized share in auto lending. It may not be long before the same happens in auto ABS.

Both Democrats and Republicans aired concerns about controversial statements made by Judy Shelton on monetary policy, deposit insurance and other issues, raising doubts about her confirmation.

Regulators are alarmed about banks' rising exposure to high-risk corporate credits and want more data on how they would perform in a recession.

Upstart is disputing an analysis accusing it of discriminating against prospective borrowers based on the college they attended, saying it contains “inaccuracies and misunderstandings.”

According to presale reports on Flagship’s $355 million auto-loan securitization, the subprime auto lender is removing the 2% collateral pool limit on loans over six years (72 months) that can be added during a three-month prefunding period for Flagship Auto Credit Trust 2020-1.

Members of the House Financial Services Committee chastised Kathy Kraninger for not supervising student loan servicers and failing to examine firms for compliance with the Military Lending Act.

Think Finance, which had teamed with tribal lenders to offer high interest installment loans, could no longer make or collect on loans in states that have caps on interest rates, under terms of a proposed settlement with the Consumer Financial Protection Bureau.

The lease deal – Santander’s sixth ABS of Chrysler Capital leases since 2017 – has a higher proportion of leases with original terms longer than 36 months (44.5%) than prior deals through the platform.