Banking and Lending
Will new consumer arbitration rule stand?July 17
Canadian banks learn to diversify, tailor their offeringsJuly 19
Brands take different paths after plunge in Canadian lease marketJuly 19
New CFPB rule prohibits lenders from forcing arbitrationJuly 10
The CFPB banned banks and other financial services companies from including mandatory arbitration clauses in contracts to prevent consumers pursuing claims of wrongdoing from joining class-action lawsuits. The rule could have a wide-ranging impact on automaker's captive finance units and other auto lenders.
AutoNews Now: Debating Tesla's true valueApril 14
AutoNews Now: Speedy rides to take stage in NYApril 7
Musk's personal borrowing rises as banks underwrite more Tesla debtMarch 16
Ally's Q4 net income falls 5.7%Jan. 31
CFPB head may have violated U.S. law with lending rules, U.S. House Republicans claimJan. 18
In a blow against the Consumer Financial Protection Bureau just two days before President-elect Donald Trump takes office, U.S. House Republicans accused the CFPB of potentially violating federal law with its rule authorizing the agency to regulate certain auto lenders.
AutoNews Now: GM's plan for 1,500 U.S. jobsJan. 17
Tesla adds $500 million to borrowing capacity amid expansionDec. 20, 2016
Tesla Motors and subsidiaries added about $500 million in borrowing capacity through amended agreements with their lenders, as the electric-car maker enters a year where it will be expanding production and integrating a solar-energy company.
Chase names CEO for Auto FinanceNov. 17, 2016
JPMorgan Chase & Co. named Mark O'Donovan, a 20-year Chase veteran, CEO of Auto Finance, effective immediately, a spokesman told Automotive News. He succeeds Thasunda Duckett, who became CEO of Consumer Banking in September.