Dipping Into Auto Equity Devastates Many Borrowers

With a crackdown on payday lenders, subprime borrowers are increasingly using auto title loans, whose high interest rates can lead to repossession and financial ruin. More…


Russia’s Sberbank Suspends Taking New Requests on Car Loans, Mortgages: RIA

Russia’s Sberbank, the country’s largest lender, has suspended until the end of February taking new requests from retail clients on loans for automobiles and mortgages, RIA news agency reported. More…


Ally Financial Receives Subpoena in Subprime Auto Loan Inquiry

Ally said that it had received a Justice Department subpoena as part of an investigation “related to subprime automotive finance and related securitization activities.” More…


More Borrowers Fall Behind on Car Payments, Report Shows

The credit and research firm Experian said that the balance of loans delinquent 60 days increased 27 percent, to roughly $4 billion, in the third quarter from the same period a year ago. More…