Banking and Lending
Chase hikes reserves for auto loan losses 'for the right reasons'Fri, 14, Oct 2016
Analysts raised concerns about an increase in reserves for future auto loan losses at Chase Auto Finance, but the bank said the increase mostly reflects bigger loan and lease volume, and not any particular increase in risk, even as the U.S. new-vehicle market peaks.
More Americans falling behind on car loan payments, S&P saysTue, 11, Oct 2016
Subprime borrowers are falling behind on their car loan payments at the highest rate in more than six years, according to S&P Global Ratings. Competition has spurred lenders to loosen standards and resulted in more delinquencies and defaults by people with weak credit, the ratings firm said.
CFPB survives legal attack as court trims director's powerTue, 11, Oct 2016
The CFPB survived a constitutional challenge and will remain in business, though a federal appeals court took away power from its director and tossed out a $109 million penalty against a mortgage company. The long-awaited decision was a blow to the agency, which was created in the wake of the 2008-09 financial crisis to regulate auto lending, mortgages, credit cards and other products directed at consumers.