Consumer lending

The Democratic presidential candidate argued in a blog post that the U.S. could avoid a recession by canceling most student debt and authorizing regulators to more aggressively monitor leveraged lending.

In a registration statement filed with the SEC, the company revealed new details about its financial performance and its growth plans.

The agreement is expected to solidify a lending partnership whose status had been in doubt for more than a year. But it raised as many questions as it answered.

The legislation, which passed a key test in the state Senate on Wednesday, is the product of a compromise between consumer advocates and some lenders.

A DBRS report states rising concentrations of light-duty truck collateral adds risks to vehicle securitization portfolios, but risk may differ among ABS types.

Kroll this week withdrew ratings on the defunct subprime auto lender's loan securitization, which had undergone multiple downgrades.

The executives were hired for their focus on loan origination, portfolio management and securitization.

Foursight's first deal of 2019 has a rising 36.6% share of subprime borrowers from its lower-tier loan programs.

The CFPB issued a final rule late Thursday to delay the compliance date for mandatory underwriting provisions of the 2017 payday lending rule.

The agency's vote Thursday threatens to block many of the industry's communications with customers, though banks did win one concession.

A decline in average FICO and recent loss levels in AmeriCredit's securitizations prompts Moody's to project slightly higher credit losses in the new transaction compared to previous rated deals.

The collateral will include $147.3 million in well-seasoned loans that were part of HESAA’s 2009 issuance, as well as up to $155 million in new loans that the trust will originate through an Oct. 31, 2020 prefunding and recycling period for the next academic calendar year.

S&P Global Ratings reports that cumulative loss levels on collateralized portfolios of subprime auto loans fell to 7.11% in March, compared to 8.67% in February. That figure was also down from 7.61% in March 2018, and the lowest since 2016.

Kathy Kraninger, the bureau's director, is in a standoff with Democrats about her claim that the agency cannot supervise institutions under the Military Lending Act.

A Davis & Gilbert poll of market participants showed more expect delinquencies over the next one to two years, likely requiring credit enhancement in future deals.

The AGs say the agency's plan to rescind ability-to-repay requirements for payday loans would undermine states' ability to enforce their own laws.

S&P Global Ratings forecasts lower losses in subprime lender American Credit Acceptance's next auto-loan securitization, citing the inclusion of performing loans transferred from a recently called deal.

Regions Financial said Thursday that it will not renew its contract with GreenSky — a move analysts say could prompt other banks to re-examine their lending arrangements with the fintech.

The official told lawmakers Thursday that the research underlying the bureau's 2017 payday rule proposal did not support strict underwriting requirements of small-dollar loans.

The portion of Americans with a car loan climbed to 35% last year from just 20% in 1999, the New York Fed said in a blog post. Auto loans first overtook mortgages in 2013 and have pulled further ahead every year since.