Sentences with phrase «subprime auto lending»

Consumers need to have information given to them as clearly as possible when making auto - purchases and the solutions we are putting forward will help fight subprime auto lending by empowering consumers.

However, these third - quarter figures show that while subprime auto lending appeared to be increasing, lending to other consumer groups has risen with it.

In all, 50 percent expect subprime auto lending to expand most significantly, while 38 percent believe credit cards will see the largest gain.

On Thursday morning, State Senator Jeff Klein and State Senator Diane Savino will release, «Road to Credit Danger: Predatory Subprime Auto Lending in New York,» an investigative report exposing the top deceptive subprime auto lending and advertising practices presently occurring in New York City.

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.

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.

The Department of Justice has already subpoenaed Capital One Financial Corp. (NYSE: COF), Ally Financial Inc (NYSE: ALLY) and others regarding subprime auto lending.

«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.

Subprime auto lending boomed in the aftermath of the Great Recession, since car owners proved more resilient than many lenders had anticipated.

There are no exact measures of just how many people whose cars have been repossessed end up in this predicament, but lawyers for borrowers say that it is a growing problem, and one that points to another element of subprime auto lending.

Queens, NY — Independent Democratic Conference Leader State Senator Jeff Klein (D - Bronx / Westchester) and State Senator Diane Savino (D - Staten Island / Brooklyn) will release, «Road to Credit Danger: Predatory Subprime Auto Lending in New York,» an investigative report exposing the top deceptive subprime auto lending and advertising practices currently happening in New York City.

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.

Albany, NY — Independent Democratic Conference Leader Senator Jeff Klein (D - Bronx / Westchester), Senator Diane Savino (D - Staten Island / Brooklyn), Committee on Consumer Protection Chair Senator David Carlucci (D - Rockland / Westchester) and Senator Jesse Hamilton (D - Brooklyn) introduced a legislative package on Monday to protect consumers from predatory and subprime auto lending.

But the silver lining, according to some experts, is that the subprime auto lending hiccup shouldn't send the economy into a tailspin.

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.

There have been reports recently about how the subprime auto lending market is the very similar to the subprime mortgage crisis and could very well be the next bubble.