Earnings
Cap One holds $2B for losses as dealer volume falls 45%
Capital One Financial Corp. has set aside $2.1 billion in reserve for its auto portfolio amid a 45% year-over-year decline...
Weekly Wrap: Banks stock up on capital, vehicle values plummet [Video]
In the second week of first-quarter earnings season, Ally Financial reported the addition of $2.8 billion to its retail auto...
Fifth Third sets aside $129M for auto loan losses
Fifth Third Bank has set aside an additional $129 million in reserve for its indirect consumer loans, which consist predominantly...
Truist pads reserves as deferred accounts remain current
A “majority” of Truist Bank’s 330,000 consumer loan deferrals are current, including the bank’s subprime auto book, Chief Risk Officer...
Credit Acceptance delays quarterly SEC filing due to COVID-19
Credit Acceptance Corp. has suspended its first-quarter earnings report due to the “adverse impact” the COVID-19 crisis has had on...
Ally Financial allots $3B for credit losses, defers CECL
Ally Financial has set aside $2.8 billion in retail auto reserves, a $1.8 billion year-over-year increase, as the COVID-19 crisis...
Citizens, US Bank stock coffers for expected losses
Citizens Bank and U.S. Bank are the latest financial institutions to set aside additional capital in anticipation of increased credit...
Weekly Wrap: Earnings season kicks off, COVID-19 spurs increased reserves [Video]
This week kicked off first-quarter earnings season with JPMorgan Chase, Wells Fargo, Bank of America, and Consumer Portfolio Services reporting...
