Auto Financiers Tapping The Brakes On Subprime Lending

Executives at a few of the most significant banks in automobile lending stated at a conference that theyre tapping the brakes on subprime financing, specifically at the lower end of the credit spectrum. But they firmly insisted the credit environment is excellentbenefits car financing overall. We love the automobile company, however we are going to…

CFPB Launches Proposed Rule On Payday Lending And Other Small Dollar Loans

The Customer Financial Defense Bureau released its long-anticipated proposed guideline on small dollar providing Thursday. The rulemaking covers carriers of payday advance loan, automobile title loans, deposit advance items, and particular high-cost installation and open-end loans. Among other things, the proposed rule normally needs that a loan provider needs to reasonably identify that a customer…