Consumer lending

Under Richard Cordray, the consumer bureau had questioned whether affiliations between small-dollar lenders and sovereign tribes are exempt from state laws, but observers say the agency’s acting chief has signaled a more welcoming approach.

The fintech lender's latest offering of $234 million bonds were priced at a 27-basis-point improvement from its previous deal; cheaper funding will allow it to better compete for borrowers in a rising rate environment.

Department of Education Secretary Betsy DeVos says the companies hired by the government to service its own loans should only be subject to federal oversight.

The legislature has passed a bill that would allow lenders to make installment loans that, in many cases, would be more costly than payment loans. If Gov. Rick Scott signs it, Florida would become the first state to pass a law designed to blunt the impact of the CFPB’s crackdown on high-cost consumer loans.

The performance of outstanding transactions issued via the Capital Auto Receivables Trust platform is weakening, so rating agencies are demanding additional investor protections.

Credit enhancement on the senior notes has risen to 36.25% from 28.7% to account for higher expected losses on the collateral; Kroll's base-case range is for 6.75% to 8.75% over the life of the deal.

The Education Department reportedly has plans to shield student loan servicers from state regulators, but the Conference of State Banking Supervisors isn't ready to cede its authority.

Incenter Mortgage Advisors is putting up for bid a $712.8 million package of government-sponsored enterprise and Ginnie Mae mortgage servicing rights concentrated in the Southeast.

DriveTime's improving loss performance in recent securitizations allowed it to relax the enhancement levels on its first securitization of the year.

The transaction is the second this year involving Santander's Chrysler Capital preferred-lender unit; in January Santander sold bonds on its first-ever deal backed by Fiat Chrysler leases.