U.S. household debt levels are expected to set a new record later this year, according to economists at the Federal Reserve Bank of New York today.
Browsing: Auto lending
Bankers continued tightening credit for commercial real estate loans and consumer loans in the last three months while holding steady on other business loans and easing credit standards very slightly in their home mortgage portfolios, according to the Federal Reserve’s latest senior loan officer survey released today.
We have a customer who is going on temporary active duty for four to six months for training, so the provisions of the Servicemembers Civil Relief Act apply since it is over 30 days. This customer has an auto loan with us. Our loan agreements require that a borrower maintain adequate insurance on the vehicle.
The OCC is focusing on credit risk and strategic risk as the top risk priorities in its supervision of community and midsize banks, according to the agency’s Semiannual Risk Perspective report released today.
As technology evolves, state-level stalwarts such as elder financial abuse and foreclosure are now sharing the legislative spotlight with novel issues generated from the success of Airbnb, Uber and other “sharing economy” firms.
A large majority of banks provide small dollar loans effectively (with low charge-offs) and have the capacity to expand their small dollar lending, were market and regulatory conditions to allow for it, according to an ABA survey of senior bank officers.
Citing the economic outlook, bankers are showing signs of tightening credit for business loans while they continued to ease credit standards slightly in their home mortgage and consumer loan portfolios, according to the Federal Reserve’s latest senior loan officer survey released today.
Recent trends, from the drop in oil prices to changes in the auto loan market, underscore the importance of risk management fundamentals.
Comptroller of the Currency Tom Curry in a speech today expressed concern about growing credit risk in auto loans, noting relaxed underwriting standards and the fact that 30 percent of new vehicle loans now have maturities of more than six years. “What is happening in this space today reminds me of what happened in mortgage-backed