Consumer lending

Powell downplayed fears about subprime auto lending, saying he aims to improve Santander Consumer's compliance culture, beef up customer services and expand its relationship with Chrysler Capital.

Scott Powell will lead the auto lender while continuing to serve as CEO of Santander Holdings, the U.S. division of the Spanish banking giant Banco Santander.

More than 20% of the pool is comprised of well-seasoned subprime auto loans previously securitized in American Credit Acceptance's asset-backed deals in 2012-2014.

The commitments were the residue of restrictions that were placed on Ally in the wake of government bailouts in 2008 and 2009.

A Fed committee studying Libor’s replacement has dwelled heavily on the potential impact to the derivatives market. Loans may become a bigger part of the conversation later this year, but the panel plans to leave a lot of the specifics up to lenders.

Auto, personal and credit card originations have fallen as delinquencies have risen, but researchers called the slowdown a temporary rebalancing by lenders.

Balances 90 days past due are noticeably higher in 2017, new N.Y. Fed data shows. Though the trend has a lot to do with positives like economic expansion and easier access to credit, officials say it deserves careful attention.

Payday lenders and arbitration supporters are claiming the CFPB has met more often with consumer groups than industry, laying the groundwork for likely lawsuits on key rules.

Both lenders are on their third auto-loan securitization of the year, with little variance from previous credit enhancement or expected loss levels.

Lower average FICOs and fewer loans to higher-qualified buyers are among the reasons DBRS has assigned a higher loss level to Westlake's latest transaction.

Loans with terms between 73 months and 75 months comprise 15.6% of the collateral for DRIVE Auto Receivables Trust 2017-2, up from 0.5% in 2017-1; yet Moody's Investors Service is holding its loss expectations stable.

The credit characteristics of the collateral are broadly similar to the sponsor's inaugural deal, completed in February, but the capital structure has been tweaked.

The collateral pool has a slightly higher percentage of new vehicles (24.53%) than the sponsor’s previous deal, and a shorter remaining weighted average term (62 months).

Property Assessed Clean Energy loans can no longer be offered in unincorporated areas of Kern County, Calif. The controversial loans, meant to promote energy efficiency, began in California and are now offered in a number of states.

The senior notes benefit from initial credit enhancement of 29.5%, nearly three percentage points higher than the same tranche of the sponsor's previous transaction.

AutoGravity of Irvine, Calif., has received $30 million in equity financing from VW Credit, according to a source familiar with the matter.

A new report from the American Bankers Association reinforces existing concerns about the ability of U.S. consumers to manage all of their debts.

Loans between 61 and 72 months at origination decreased to 49.5% of the collateral for GM's latest transaction, down from 51.3% from the sponsor's April deal.

Angel Oak was able to secure triple-A credit ratings for its next offering of nonprime residential mortgage bonds, despite offering considerably less credit enhancement.

Synchrony Financial and Alliance Data Systems are particularly vulnerable to recent shifts in Americans’ shopping habits, according to new research from Moody’s Investors Service.