U.S. jobless claims at 4.43 million in labor rout’s fifth week
More than 4 million Americans applied for unemployment benefits last week, bringing the five-week total during the coronavirus pandemic to ...
Tag: Coronavirus
Subprime Nicholas Financial furloughs 15% of staff
Nicholas Financial has furloughed 40 employees — or 15% of its workforce — in response to the COVID-19 crisis, according ...
Carmakers headed for 50% sales plunge breathe sigh of relief
Automakers are headed for a less-drastic U.S. sales collapse than feared, according to market researchers. Retail sales to consumers are ...
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 ...
General Motors folds car-sharing service Maven
General Motors is shutting down its car-sharing service Maven just one month after suspending operations due to the impact of ...
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 ...
GM renews $2B credit line for GM Financial
General Motors has renewed its $1.95 billion, 364-day revolving credit facility for the “exclusive” use of its captive finance arm ...
