Cap One holds $2B for losses as dealer volume falls 45% | Auto Finance News | Auto Finance News

Cap One holds $2B for losses as dealer volume falls 45%

Pedestrians pass in front of a Capital One Financial Corp. bank branch in New York, U.S. Photographer: Sarah Blesener/Bloomberg

Capital One Financial Corp. has set aside $2.1 billion in reserve for its auto portfolio amid a 45% year-over-year decline in weekly dealer originations in the first half of April, Chief Executive Richard Fairbank said during the bank’s first-quarter earnings call Thursday. Allowance for losses increased $600 million for auto during the first quarter. The […]

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