Wholesale used-vehicle values plummet in early April
The Manheim used-vehicle value index plummeted 11.8% for the first 15 days of April compared to March, according to a ...
Tag: Coronavirus
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 ...
Top 3 states exposed to credit losses
Auto lenders with the highest volume of loans outstanding in California, Texas and Florida are the most exposed to future ...
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 ...
CPS poised to survive pandemic
Consumer Portfolio Services, one of the few subprime auto financiers to have survived the 2008 credit crisis, will likely be ...
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 ...
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 ...
