Sentences with phrase «said subprime auto lending»
In a blog post accompanying the report, New York Fed economists including Lee said subprime auto lending is «definitely on the rise,» a change in the consumer lending market that they will keep monitoring.
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We must take action now to avoid a future crisis in the subprime auto lending industry that preys on those who could least afford it,» said Senator Hamilton, Chair, Senate Committee on Banks.
Unscrupulous auto dealerships often engage in lending practices that mirror the subprime mortgage crisis, and we need to take action now to protect our most vulnerable residents from being hurt by these deceptive practices,» said Senator Klein.
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.
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.
«The consumer credit markets have been functioning extremely well the last few years, but an increase in subprime lending has begun to impact delinquency levels for some industries, specifically the auto finance and credit card markets,» said TransUnion's Nidhi Verma in a news release.