Key insight: In research published Tuesday, the New York Fed explored the question of how the end of pandemic-era forbearance on student loans may negatively affect other consumer-lending segments. Supporting data: Of the borrowers who defaulted on their student loans in the first quarter of this year, 40% were also delinquent on auto loans, and […]
Late student-loan payments are rising. Is a domino effect coming? Read More »
Retail mortgage lender Rate is expanding into auto lending, making car loans available with ongoing upgrades to its mobile app as it looks to offer different types of products. Processing Content Thanks to an agreement with Westlake Financial, Chicago-based Rate will make vehicle lending available directly within its app, allowing for streamlined processing and opportunities
Rate moves into auto lending via app Read More »
Key Insight: The Consumer Financial Protection Bureau’s proposal comes as auto loan delinquencies are hitting their highest levels in decades. What’s at Stake: Banks object to reduced supervision of nonbanks, arguing that the Dodd-Frank Act specifically requires consistent oversight of banks and nonbanks. Supporting Data: If the CFPB adopts a rule raising auto loan thresholds,
As auto delinquencies rise, CFPB seeks to cut oversight Read More »