The wholesale car financing arm of JPMorgan Chase is putting together a plan to finance the creation of a blockchain-based automobile inventory system, The BlockCrypto reported on Friday (Nov. 22). The inventory system would digitize floor plan financing using the company’s patent-pending ledger-based floor planning...
A new report has revealed that auto sub-prime loans have reached their lowest level in 11 years. According to Experian’s Q3 2018 State of the Automotive Finance Market report, sub-prime and deep sub-prime lending comprised 21.19 percent of the market, down 1.5 percent from a...
The Office of the Comptroller of the Currency (OCC) isn’t satisfied with the progress Wells Fargo has made in reimbursing customers who might have been affected by scandals in its auto lending and mortgage units. “We are not comfortable where we are with them,” Joseph...
There is much to like in the current economic snapshot of the U.S. The overall unemployment rate has slipped below 4 percent — the lowest it’s been in nearly 20 years. After a brief dip in consumer spending early in the year, consumer enthusiasm for...
November 09, 2023
Santander, Spain’s largest bank, is set to expand its corporate banking presence in the United States. Speaking Thursday (Nov. 9) at the Reuters NEXT conference in New York, Banco Santander Executive Chair Ana Botin said the bank’s strategy will focus on renewable finance, auto lending and wealth management as it aims to outperform its competitors in a […]
December 07, 2018
A new report has revealed that auto sub-prime loans have reached their lowest level in 11 years. According to Experian’s Q3 2018 State of the Automotive Finance Market report, sub-prime...
October 04, 2018
The Office of the Comptroller of the Currency (OCC) isn’t satisfied with the progress Wells Fargo has made in reimbursing customers who might have been affected by scandals in its...
April 17, 2018
Consumer groups are speaking out against a Senate measure that would overturn the Consumer Financial Protection Bureau’s auto lending regulation. According to American Banker, the Senate is expected to vote...
