Weekly Wrap: Banks stock up on capital, vehicle values plummet [VIDEO] | Auto Finance News | Auto Finance News

Weekly Wrap: Banks stock up on capital, vehicle values plummet [VIDEO]

Photographer: George Etheredge/Bloomberg

In the second week of first-quarter earnings season, Ally Financial reported the addition of $2.8 billion to its retail auto reserves, joining last week’s reporters, including Bank of America, JP Morgan Chase and Wells Fargo in setting aside additional credit losses. The lender also experienced a 50% drop in originations. Fifth Third Bank and Truist […]

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