Post Tagged with: "Fifth Third Bank"

Stuart Litwin, co-head of securitization at Mayer Brown LLP, moderates a panel at ABS East 2017. (Photo by William Hoffman)

Regional Banks Wrangle With ABS Capital Requirements, Lawyer Says

September 19, 2017 at 11:30 am 0 comments

MIAMI — Although some smaller banks such as Fifth Third Bank and USAA Federal Savings Bank have issued auto ABS deals in recent weeks, it will become increasingly hard for these smaller regional banks to keep up with capital requirement regulations through 2019, said Stuart Litwin, Mayer Brown LLP’s co-headRead More

Auto ABS Issuers Pull Pools Back From Harvey, Irma Impacted Areas

Auto ABS Issuers Pull Pools Back From Harvey, Irma Impacted Areas

September 12, 2017 at 12:12 pm 1 comment

During one of the busiest times for the secondary market, auto lenders are excluding vehicles affected by Hurricane Harvey from ABS issuances over fears of negative-equity deals, according to presale reports.   Exeter Finance Corp., Fifth Third Bank Dealer Financial Services, Ford Motor Credit Co., and Santander Consumer USA haveRead More

Fifth Third’s $1B Auto Securitization Boosts Prime Pipeline

Fifth Third’s $1B Auto Securitization Boosts Prime Pipeline

September 8, 2017 at 10:45 am 1 comment

Fifth Third Bancorp is prepping its first securitization since 2015, which puts 2017 prime issuances on pace to match the previous year’s rate, according to Thursday’s presale reports. Ford Motor Credit Co., General Motors Financial, and Fifth Third Bank combined to add $3.4 billion in prime auto loan and leaseRead More

Lenders See Regulatory Stability, CFPB Complaints Show

Lenders See Regulatory Stability, CFPB Complaints Show

May 10, 2017 at 12:51 pm 1 comment

After years of retooling, investing, and stressing over the regulatory environment following passage of the Dodd Frank Act in 2010, an analysis of the Consumer Financial Protection Bureau’s complaint database is showing signs of stabilization. Yes, the overall number of complaints submitted to the bureau has risen — 7,185 last year,Read More

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Fifth Third Plans to Shrink Portfolio 30% by 2019

April 25, 2017 at 12:59 pm 2 comments

Fifth Third Bank plans to reduce its auto portfolio to $7 billion by 2019 as it focuses on more profitable auto loan originations, Chief Financial Officer Tayfun Tuzun said during an earnings call this morning. The bank has already started to slow originations, as it aims for an overall 31%Read More

The Cost of Compliance [SPONSORED]

The Cost of Compliance [SPONSORED]

February 9, 2017 at 10:25 am 0 comments

Since July 2010, the Consumer Financial Protection Bureau has made significant waves in the auto finance space. In 2013, they issued their bulletin titled “Indirect Auto Lending and Compliance with the Equal Opportunity Act” stating that they would regulate lenders on unanticipated discriminatory practices. With very little guidance on howRead More

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Fifth Third Bank Strategically Lowers Auto Origination Volume

January 24, 2017 at 11:17 am 0 comments

Fifth Third Bank is the latest in a string of banks to reduce its volume of auto loan originations in order to “improve return on shareholders’ equity,” the company stated in its fourth quarter earnings report. The bank did not break out originations specifically, but the company’s auto outstandings dropped 13%Read More

Fifth Third Adds Touch ID to iPhone App

Fifth Third Adds Touch ID to iPhone App

February 16, 2016 at 11:07 am 0 comments

Fifth Third Bancorp this month began to offer its customers the option to log into the bank’s mobile app — which includes auto lending functionality — using their fingerprint, rather than having to enter a password. “Our customers’ digital expectations continue to evolve, and many of those expectations are beingRead More

Auto ABS Losses Inch Up, but Horizon Remains ‘Healthy,’ Fitch Says

Auto ABS Losses Inch Up, but Horizon Remains ‘Healthy,’ Fitch Says

November 2, 2015 at 11:45 am 0 comments

Prime auto loan ABS losses rose to the highest level in over four years through September, but loss rates were still well below the 10-year average, according to Fitch Ratings’ In the Auto ABS Driver’s Seat 3Q report released Friday. Prime transactions in the mid-range, with significant concentrations of 600–700 FICORead More

Fifth Third Says Too Soon to Predict Effect of CFPB Consent Order

Fifth Third Says Too Soon to Predict Effect of CFPB Consent Order

October 21, 2015 at 11:45 am 0 comments

Outstanding auto loans decreased slightly from a year ago for Fifth Third Bank in the third quarter. Meanwhile, the bank said it’s too soon to tell whether lower ceilings on dealer reserve will affect its auto loan business. “In terms of the impact of the current structure, we’re working withRead More

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