Fed: Big banks tighten credit standards on auto loans | Auto Finance News | Auto Finance News

Fed: Big banks tighten credit standards on auto loans

Photographer: Andrew Harrer/Bloomberg

Eight major banks tightened auto loan underwriting standards in the first quarter, according to the Federal Reserve’s Senior Loan Officer Opinion Survey on Bank Lending Practices. Banks that tightened standards represented 16% of survey respondents, the highest ever recorded since the Fed began breaking out auto from the consumer loan segment. By comparison, the percentage […]

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