auto loans

FCA Gives Auto Lenders More Time to Manage Customer Complaints
FCA Gives Auto Lenders More Time to Manage Customer Complaints
November 13, 2024  |  Regulation

The U.K.’s financial watchdog is giving auto financing companies more time to deal with customer complaints. The Financial Conduct Authority (FCA) announced this decision Wednesday (Nov. 13) in the...

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Ally Financial Warns of ‘Choppy’ Quarters as Auto Income Falls
Ally Financial Warns of ‘Choppy’ Quarters as Auto Income Falls
October 18, 2024  |  Earnings

Ally Financial CEO Michael Rhodes says the company’s next few quarters will be “choppy.” In a third-quarter earnings presentation Friday (Oct. 18), the auto lender said it had imposed stricter...

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Consumer Lenders Worry as Borrowers Struggle With Bills
Consumer Lenders Worry as Borrowers Struggle With Bills
September 15, 2024  |  Consumer Finance

Americans’ struggles with their bills has reportedly been bad news for consumer lending firms. Shares in those companies fell last week following warnings from executives...

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Lloyds Calls for Swift End to British Car Loan Investigation
Lloyds Calls for Swift End to British Car Loan Investigation
September 09, 2024  |  Regulation

A U.K. banking executive says the country needs to resolve its unfair auto-lending practice investigation. Great Britain’s Financial Conduct Authority (FCA) said in July that...

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Ally Reports Net Charge-Offs Rise Due to High-Priced Cars
Ally Reports Net Charge-Offs Rise Due to High-Priced Cars
July 17, 2024  |  Earnings

Ally Financial reported Wednesday (July 17) that its net charge-offs (NCOs) in the second quarter rose in comparison to the same quarter a year earlier,...

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CFPB Finds Failures in Loan Collection and Medical Credit Cards
CFPB Finds Failures in Loan Collection and Medical Credit Cards
July 02, 2024  |  CFPB

The companies collecting Americans’ student loans, auto loans and medical payments have some work to do. That’s according to a report issued Tuesday (July 2) by the Consumer...

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Yendo Raises $165 Million for ‘Vehicle-Secured’ Credit Card
Yendo Raises $165 Million for ‘Vehicle-Secured’ Credit Card
May 16, 2024  |  Investments

Yendo, a FinTech offering a credit card tied to users’ car equity, is $165 million richer. The company announced the new funding — $150 in debt financing,...

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Fed Survey Reveals Tighter Standards and Weaker Demand for Loans
Fed Survey Reveals Tighter Standards and Weaker Demand for Loans
May 06, 2024  |  Loans

Banks are seeing a slide in demand for loans — at the same time that they’re tightening lending standards. And the pressures, as noted in...

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Odessa Launches Originations Platform, Plans Auto Finance Suite
Odessa Launches Originations Platform, Plans Auto Finance Suite
April 24, 2024  |  Loans

Equipment finance company Odessa has entered the auto industry. The company has launched an originations platform called Odessa Auto and plans to grow it into a full-service end-to-end auto...

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