Earnings
US Bank logs auto loan growth amid positive recovery rate on NCOs
U.S. Bank in the second quarter recorded a positive recovery rate on net charge-offs and growth in its auto portfolio...
Truist to roll out new digital platform by yearend, grows auto book in Q2
About 500,000 Truist clients will be using the bank’s new combined digital platform by month’s end as the lender celebrates a...
PNC Financial’s auto book grows 8.6% YoY in Q2 with BBVA acquisition
After four consecutive quarters of decline, PNC Financial’s auto book grew in the second quarter of 2021 following the acquisition of BBVA USA. ...
Historic origination volume in June drives Wells Fargo Auto’s YoY growth
Wells Fargo Auto is the latest auto lender to report record origination volume in the second quarter following increased sales...
Bank of America’s digital auto loan originations surpass 70% in Q2
Bank of America has shifted a majority of its direct auto originations to digital channels amid a record number of...
Chase Auto releases $75M in reserves amid another record quarter of originations
Chase Auto’s second quarter was marked by a $75 million reserve release spurred by positive recoveries in net charge-offs as...
Weekly Wrap: CarMax reaps the benefits of lower cost of funds, investment in auto finance ramps
The auto finance industry has in many ways benefited from a combination of lower funding costs and pricier cars, but...
CarMax Auto Finance’s Q1 brings ‘largest origination quarter’ in company history
CarMax Auto Finance experienced the “largest single origination quarter” in the lender’s history in the first quarter of fiscal year...
