The Consumer Financial Protection Bureau (CFPB) said Wednesday (Jan. 29) that it will continue to protect servicemembers’ financial interests after finding that servicemembers pay more...
Artificial intelligence (AI) lending marketplace Upstart has introduced enhancements to its auto retail platform. The updates, announced Wednesday (Jan. 15), help car dealers streamline financing...
Ally Financial is reportedly cutting staff, ending mortgage originations and rethinking its credit card business. The company will lay off less than 5% of its...
Carvana has revived a deal to sell $4 billion in used-car loan receivables to Ally Financial. The yearlong arrangement, announced Monday (Jan. 6), comes days...
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...
The Consumer Finance Protection Bureau (CFPB) says it’s taking action against improper automobile repossessions. The regulator on Monday (Oct. 7) released findings in its investigation...
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...
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...
Online car retailer Carvana is tightening its lending standards in response to higher delinquency rates. The company is requiring higher down payments from customers and...