Auto lenders face an emerging threat from artificial intelligence (AI)-powered fraud tools, according to Point Predictive. The “explosive growth” of these tools may impact lenders in 2025 and beyond, the provider of AI solutions for consumer lending said in a Tuesday (March 25) press release....
American consumers are missing monthly car payments at the highest rate since 1994. The share of subprime auto borrowers who were at least 60 days delinquent on their payments climbed to 6.56% in January, Bloomberg News reported Thursday (March 6), citing data from Fitch Ratings. That figure is...
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 and close sales more quickly. “With consumer confidence and vehicle sales on the rise, and the majority of car buyers...
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 workforce, Bloomberg News reported Wednesday (Jan. 8), citing a statement from an Ally spokesperson. “As we continue to right-size our...
February 06, 2024
The pressures of increased debt burdens are put in stark relief with the latest data from the central bank. And the burden is felt keenly among younger consumers, and lower-income households — which means the pinch is keenly felt within the paycheck-to-paycheck economy. To that end, the Federal Reserve Bank of New York’s Center for […]
January 04, 2024
Mobile wallets have gained immense popularity among consumers, not only for making in-store purchases but also for their ability to manage finances and store sensitive personal information. According to a...
December 29, 2023
Credit unions (CUs) have long been a reliable source for credit products such as credit cards, mortgages, auto loans and personal loans. However, with the rise of non-bank and non-CU...
February 20, 2019
LendingClub shares sank on guidance that missed the Street, but management said fourth quarter lending activity was strong across personal and auto loans, even as the macro environment moving forward...
March 27, 2025
Automotive repossessions reportedly jumped last year to the highest level in 15 years. Around 1.73 million cars were seized by lenders during 2024, Bloomberg News reported Wednesday (March 26), citing data from Cox Automotive. That was a 16% increase from 2023 and up 43% from two years earlier. The last time car repossessions were at […]
March 25, 2025
Auto lenders face an emerging threat from artificial intelligence (AI)-powered fraud tools, according to Point Predictive. The “explosive growth” of these tools may impact lenders in 2025 and beyond, the...
March 06, 2025
American consumers are missing monthly car payments at the highest rate since 1994. The share of subprime auto borrowers who were at least 60 days delinquent on their payments climbed...
January 15, 2025
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 and close sales more quickly....
