Sentences with phrase «of subprime auto lending»
Not exact matches
Richard Cordray, director of the Consumer Financial Protection Bureau, commented, «Subprime [auto] borrowers may be more vulnerable to predatory practices, so direct oversight of their lending practices is essential.»
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«Predatory subprime auto lending takes advantage of vulnerable New Yorkers in every corner of our state and often drives people with bad credit further into debt.
Albany, NY — Independent Democratic Conference Leader State Senator Jeff Klein (D - Bronx / Westchester) and State Senator Diane Savino (D - Staten Island / Brooklyn) announced Tuesday that the State Senate passed two critical pieces of legislation they sponsor aimed at predatory subprime auto lending in New York.
Subprime lending is light at present outside of autos.
To make matters worse, the alternative available to you — the subprime lending in the auto market — might not seem too appealing because of what the public thinks and says about it.
Some experts are comparing the heavy hits the subprime auto lending companies have taken in the automobile sector to the subprime mortgage crisis of 2007 to 2010.
The riskiest of the subprime auto loan borrowers might find more luck in going with smaller lenders that are willing to accept the risk to stay in the lending game.
Subprime auto lending boomed in the aftermath of the Great Recession, since car owners proved more resilient than many lenders had anticipated.
Nick Clements, co-founder of the comparison - shopping site MagnifyMoney, said that while credit card companies ventured back into subprime lending following the crisis, they did so less aggressively than auto lenders.
Auto delinquency rates edge close to the peak reached during the height of the financial crisis, fueling speculation that subprime lending is rife again.