Weekly Wrap: Auto industry pulls back on consumer assistance
This week, the auto industry is eyeing potential increases in delinquency rates as long-term deferrals come to an end. Since ...
Tag: delinquencies
Consumers in financial hardship dips following COVID peaks
The percentage of auto accounts in financial hardship status fell to 6.16% in July, a decrease of 104 basis points ...
Ally Financial net charge-offs expected to double by year end
Ally Financial forecasts its retail auto net charge-offs (NCO) to be between 1.8% and 2.1% of its portfolio by the ...
PNC pumps up allowance for credit losses amid reduced delinquencies
PNC Financial Services is ratcheting up its allowance for credit losses amid the industrywide trend of dwindling delinquency rates in ...
How subprime lenders face the coronavirus economy
What a difference a few months make. Last year, subprime lenders outpaced banks, captives and credit unions at a rate ...
Daimler Mobility adds $487M for future losses in Q1
Daimler Mobility has increased its provisions for credit risk by $487.3 million during the first quarter in anticipation of an ...
Santander ramps up reserves by $2.5B
Santander Consumer USA has increased its allowance for credit losses by $2.5 billion due to Day 1 CECL impacts and ...
Moody’s lifts auto underwriting outlook
Moody’s Investors Service softened its assessment last week of auto underwriting to “weaker end of historical averages” from “weak,” as ...
