Large banks such as Wells Fargo, U.S. Bank, and Capital One pulled back from subprime auto loans, but other lenders and startups emerged to pick up the slack in 2015.
Meanwhile, regulators including the Department of Justice also made subprime auto lending a focus. For instance, the DOJ settled it’s first lawsuit with a buy-here, pay-here lender this year.
With 2016 right around the corner, here is today’s countdown of AFN.net’s top 10 Subprime stories of the year:
- U.S. Bank Sticks with All-Prime, After All
- DOJ Settles ‘Buy Here, Pay Here’ Lawsuit
- DOJ Subpoenas Subprime Auto Lender Global Lending Services
- Wells Fargo Calls Subprime Cap a Step to Formalize Risk Structure
- SCUSA, ACA Heat Up the ABS Market with New Subprime Offerings
- Capital One Will Remain Cautious on Subprime
- Fund Manager Launches Subprime Startup
- Startup Aims to Make Subprime Payments More Engaging
- Yamaha Launches Nonprime Motorcycle Captive
- Capital One Will Remain Cautious on Subprime
