BMW to ‘safeguard’ captive liquidity as COVID-19 drops volumes
BMW Group’s global finance structure and diversified funding sources insulate BMW Financial Services from potential liquidity concerns brought on by ...
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US jobless claims top 5.2 million, erasing a decade of gains
More than 5 million Americans filed for unemployment benefits last week, bringing the total in the month since the coronavirus ...
Bank of America postpones CECL, sets aside $3.6B for COVID-19
Bank of America has tapped the Federal Reserve's March 27 option to defer estimated capital impact under current expected credit loss ...
Subprime stocks drop $7B in market cap since March
The auto finance sector has been pressured from all sides since COVID-19 took root in the U.S. With vehicle production ...
JPMorgan Chase, Wells Fargo hunker down for increased credit losses
JPMorgan Chase and Wells Fargo are stockpiling reserves in the expectation of increased credit losses as a result of the ...
GM Financial revamps strategy for digital revolution
GM Financial’s revamped digital marketing strategy is the result of greater collaboration with General Motors. At the helm of marketing ...
Fear of an impending car-price collapse grips auto industry
The auto industry -- already fretting lengthy factory shutdowns and depressed new-vehicle demand -- is starting to sound the alarm about a ...
COVID-19 strains Santander’s target Chrysler Capital goals
The coronavirus pandemic could put strain on Santander Consumer USA’s financing alliance with Fiat Chrysler Automobiles, according to filings with ...
