Citizens to Park Auto Loan Business
Rhode Island-based regional lender Citizens Bank is getting out of the auto loan business next month.
Healey Settles for $5M with Santander Consumer USA
More than 1,000 Massachusetts borrowers who had auto loans with Santander Consumer USA could receive debt relief and other payments following a settlement the company reached with the Massachusetts attorney general.
Santander to Buy Remaining Shares of Auto Lender
Santander Holdings USA Inc. will pay approximately $2.5 billion to acquire the outstanding shares of its auto loan business, making it a wholly owned subsidiary.
Santander Looks To Buy Remaining Shares of Its Auto Lender
The Boston-based parent organization of Santander Bank and its other U.S. companies wants to acquire the outstanding shares of its auto loan business, making it a wholly-owned subsidiary.
Multiple Indictments in Car Loan Scheme
Six people were indicted by a federal grand jury in Boston in connection with a scheme to use stolen identities to apply for bank accounts and obtain car loans.
Subprime Auto Lender Facing $5.5M Penalty from AG Healey
Exeter Finance LLC has been hit with a $5.5 million penalty from state Attorney General Maura Healey’s Office for alleged unfair, subprime auto loans for local car buyers.
From Flats Back to Markups
The U.S. Senate’s decision earlier this month to repeal guidance intended to stop car dealerships from charging higher interest rates on loans to minority buyers could cause lenders to shift away from a flat-fee model to one that critics have said can lead to discriminatory lending.
US Senate Panel Plans to Repeal Auto Lending Rules
U.S. Senate Banking Committee Republican Pat Toomey said on Tuesday the panel plans to repeal the Consumer Financial Protection Bureau’s indirect auto lending and leveraged lending rules in the coming weeks.
Division Of Banks Issues Fines For Unlicensed And Illegal Auto Lending Practices
Several auto lenders are being fined after the Massachusetts Division of Banks discovered unlicensed or illegal lending activities, as part of a statewide survey of 200 car dealerships in conjunction with the state’s Division of Professional Licensure and the Registry of Motor Vehicles.
The Cynical Millennial Weighs In On Car Ownership
“So my credit union will give me a loan on the car I...
