Chase Auto inks deal with Vroom

Chase Auto has expanded its relationship with online used-car retailer Vroom, in anticipation of an expected 2020 launch of Vroom Financial Services Powered by Chase, a new financing arrangement between the two companies, Mark Roszkowski, Vroom’s chief revenue officer, told Auto Finance News. “The goal is to eventually make the entire financing process completely digital,” Roszkowski […]

• Joey Pizzolato
• September 25, 2019
• Exclusive, Innovation & Technology, Sales & Marketing

Sparking Connections: How Tech Alliances Are Firing Up Lenders

Slowing vehicle sales and the potential for a market downturn have lit a spark among lenders, technology companies, and OEMs, igniting partnerships aimed at gaining marketshare and creating solutions attainable only by way of collaboration. In January, Ford Motor Co. and Volkswagen AG established an alliance that will likely spur the OEMs’ captives to collaborate […]

• Nicole Casperson and Joey Pizzolato
• May 22, 2019
• Features, Innovation & Technology, Risk Management

Bank CEOs Say Don’t Hold Your Breath for Predicted Wave of Deals

The biggest bank merger since the financial crisis — February’s $28 billion tie-up between BB&T Corp. and SunTrust Banks Inc. — was supposed to spark a wave of copycats. Industry CEOs must have missed the memo. “M&A is not on our minds at this point,” KeyCorp Chief Executive Officer Beth Mooney said last week in […]

• Bloomberg News
• April 26, 2019
• Capital Markets, Risk Management

BB&T-SunTrust Merger to Establish $23B Auto Finance Operation

BB&T Bank’s acquisition of SunTrust Banks is likely to combine auto lending operations in a move that will improve efficiency but take time to configure, analysts told Auto Finance News. A SunTrust-BB&T merger would create a $22.8 billion auto finance operation, propelling the business into the top 20 among auto financiers, according to Big Wheels […]

• Nicole Casperson
• February 7, 2019
• Innovation & Technology, Risk Management

5 Trends to Watch: 2019 Promises to be an Interesting Year

From the January issue: The pace of U.S. growth is expected to slow, according to most economists, who also think interest rates will rise. There is uncertainty about tariffs and, beyond the economic factors, the race between different lenders, dealers, and manufacturers to overhaul products and services is picking up. But perhaps the biggest challenge […]

• Bianca Chan
• January 17, 2019
• Capital Markets, Features, Risk Management, Sales & Marketing

SunTrust Executive to Deliver Keynote Address at Women In Auto Finance Luncheon

Renee Franck, national credit manager of SunTrust Banks Inc., will give the keynote address at the Auto Finance Summit’s newest event, the Women in Auto Finance Luncheon. The luncheon will take place the first day of the summit, Wednesday, October 24 from noon to 2 p.m. at The Wynn, Las Vegas. By providing an exclusive […]

• Nicole Casperson
• August 13, 2018
• Risk Management

SunTrust Grows Portfolio, Improves Online Lending Division

SunTrust Banks managed to lower delinquencies and net-charge-offs in its indirect auto portfolio while enhancing its online direct-lending division — LightStream — Allison Dukes, chief financial officer, said during the second quarter earnings call. “We have lower originations year over year in the second quarter 2018 compared with 2Q17, but with much better performance and […]

• Nicole Casperson
• July 24, 2018
• Earnings, Risk Management

Congress Rolls Back Dodd-Frank Rules, Relieves Banks of Stress Test Requirements

Fewer than 10 banks will be required to submit stringent stress test analysis to federal regulators following Congress’ passage of bipartisan legislation designed to rollback Obama-era financial regulation. The House voted 258-159 to roll back parts of the 2010 Dodd-Frank Act, which will now designate banks with assets above $250 billion as “systemically important financial […]

• William Hoffman
• May 23, 2018
• Compliance & Regulation