JPMorgan Chase & Co., Fifth Third Bancorp and Barclays Plc are among banks bracing for potentially hundreds of millions of dollars in combined losses from loans tied to subprime auto lender Tricolor Holdings, according to people with knowledge of the matter. Fifth Third said in a regulatory filing Tuesday that it faced an impairment charge […] The post JPMorgan, Fifth Third among banks facing Tricolor losses appeared first on Auto Finance News.| Auto Finance News
Tricolor Auto Acceptance is preparing to file for bankruptcy as soon as today, putting a halt to expansion discussions ahead of an unexpected round of furloughs announced late last week, sources familiar with the matter told Auto Finance News. Auto Finance News’ efforts to reach Tricolor leadership have gone unanswered. Reports that employees were […] The post Tricolor Auto may file for bankruptcy, sources say appeared first on Auto Finance News.| Auto Finance News