Anne Burns, the trustee in charge of Tricolor Holdings, can operate some parts of the business to secure Tricolor’s assets and records, a judge has ruled. U.S. Bankruptcy Court for the Northern District of Texas Dallas Division Judge Michelle Larson approved a motion on Oct. 3 allowing Burns to minimally operate Tricolor until Jan. 9, […] The post Judge allows Tricolor trustee to operate business in limited capacity appeared first on Auto Finance News.| Auto Finance News
A federal investigation into subprime auto lender Tricolor Holdings was confirmed as court proceedings began last week. In a court hearing on Oct. 3, Tricolor’s lawyers confirmed that federal law enforcement and regulatory agencies are investigating the buy here, pay here dealer and subprime lender for alleged misconduct and alleged systemic fraud. Since Texas-based […] The post Podcast: Tricolor court proceedings begin, fraud investigation confirmed appeared first on Auto Finance ...| Auto Finance News
A jump in new-vehicle sales and higher auto asset-backed securitization volume contributed to a year-over-year improvement in the auto finance industry’s overall health in August. The Auto Finance Composite Index, which provides insight into overall industry performance, landed at 150.22 in August, up 31.5% YoY but down 3.1% month over month. Auto Finance Composite Index […] The post Increased new-car sales, ABS issuance lead to 32% jump in industry performance (Big Wheels) appea...| Auto Finance News
Auto Finance News is pleased to announce that Mike Lavin, president at Consumer Portfolio Services, will join a session on subprime lending at Auto Finance Summit 2025, returning Oct. 15-17 at Bellagio Las Vegas. View the full agenda here. Lavin joined Consumer Portfolio Services in 2001 and has held several leadership positions across legal and […] The post Consumer Portfolio Services’ Mike Lavin joins Auto Finance Summit 2025 appeared first on Auto Finance News.| Auto Finance News
Fifth Third Bancorp agreed to buy Comerica Inc. for about $10.9 billion in stock, the largest US bank deal this year and a sign that the logjam blocking big mergers in the industry may have broken under the Trump administration’s deregulation efforts. The deal will create the ninth-largest bank in the country, with about $288 […] The post Fifth Third to buy Comerica in the year’s biggest US bank deal appeared first on Auto Finance News.| Auto Finance News
Lawyers for Tricolor Holdings’ trustee confirmed in a court hearing today that the subprime lender is under government investigation for misconduct and appears to have engaged in systemic fraud. The trustee overseeing the Chapter 7 bankruptcy proceedings for Tricolor is gearing up to work alongside government agencies investigating potential “pervasive fraud of rather extraordinary proportions,” […] The post ‘Pervasive fraud of rather extraordinary proportions’ seemingly found b...| Auto Finance News
Tricolor’s bond prices plummeted in the days following the subprime lender’s Chapter 7 bankruptcy filing, with little recovery since then in the riskiest tranches. A drop signals that investors see a sudden increase in risk of nonpayment and losses. Auto Finance News analyzed pricing across the bonds in Tricolor Auto’s asset-backed securitization (ABS) deals, […] The post Tricolor bond prices drop following Chapter 7 filing appeared first on Auto Finance News.| Auto Finance News
As the compliance landscape shifts, powersports lenders should keep an eye on consumer grievances and properly train their teams to stay off regulators’ radar. The “regulatory environment for powersports finance is an area that is very fortunate to thus far have flown under the radar with respect to regulators,” Chris Willis, partner at law firm […] The post 4 compliance tips for powersports lenders, dealers appeared first on Auto Finance News.| Auto Finance News
Automakers largely reported climbing sales in September and the third quarter as manufacturers pushed aggressive incentives and stalled tariff-induced price hikes. Analysts forecast that this year will mark the highest Q3 new-vehicle sales volume since 2019, with about 4.1 million new cars and trucks sold in the United States, according to an Edmunds report published […] The post Auto sales rise in September, Q3 amid incentives, EV pull-ahead appeared first on Auto Finance News.| Auto Finance News
Auto Finance News is pleased to announce that Elen Callahan, head of research at Structured Finance Association, will co-host a presentation on capital markets alongside Xiaowei Luan, managing partner and co-founder of AX Partners, at Auto Finance Summit 2025, returning Oct. 15-17 at the Bellagio Las Vegas. Callahan has been head of research at Structured […] The post Structured Finance Association’s Callahan, AX Partners’ Luan join Auto Finance Summit 2025 appeared first on Auto Fina...| Auto Finance News
Auto Finance News is pleased to announce that Reggie Branch, senior director of indirect lending at Arvest Bank, will join a discussion on smarter underwriting at Auto Finance Summit 2025, returning Oct. 15-17 at the Bellagio Las Vegas. View the full event agenda here. Branch has more than 40 years of industry experience, with more than […] The post Arvest Bank’s Reggie Branch to join Auto Finance Summit 2025 appeared first on Auto Finance News.| Auto Finance News
Auto Finance News is pleased to announce that Lori Morgan, national operations manager at U.S. Bank, will join a session on new opportunities and lender-dealer collaboration during Auto Finance Summit 2025, taking place Oct. 15-17 at Bellagio Las Vegas. View the full event agenda here. Morgan has been with U.S. Bank for 21 years and has […] The post U.S. Bank’s Lori Morgan joins Auto Finance Summit 2025 appeared first on Auto Finance News.| Auto Finance News
Tricolor Chief Executive and founder Daniel Chu is no longer affiliated with the subprime auto lender, multiple sources tell Auto Finance News. Chu owned 27.5% of the company ahead of the Chapter 7 bankruptcy, according to a Sept. 10 Kroll Bond Rating Agency report. More than 72% of the company was owned by a “large […] The post Tricolor CEO Daniel Chu out, sources say appeared first on Auto Finance News.| Auto Finance News
Subprime auto lender Arra Finance has secured an over $100 million line of warehouse financing from Goldman Sachs even as lenders are being more cautious. Arra Finance, which acquired Cresent Bank’s auto finance division and servicing rights to its $770 million auto portfolio last month, closed on the warehouse funding line in June, Arra Chief […] The post Exclusive: Arra Finance secures over $100M warehouse line from Goldman Sachs appeared first on Auto Finance News.| Auto Finance News
Used towable and motorhome values dropped in August as dealers prepare for seasonal lows ahead of colder weather. Dealers are struggling to sell used RVs, Jud Chamblee, director of indirect sales at TDECU, said during a session at Powersports Finance Summit 2025 in Columbus, Ohio, on Sept. 24. “There are a ton of used RVs […] The post Towable values drop 9.2% YoY in August appeared first on Auto Finance News.| Auto Finance News
General Motors Co., Hyundai Motor Co. and Ford Motor Co. said they would extend discounts on certain electric models after a $7,500 federal tax credit expired Tuesday, a bid to maintain momentum after a surge in third-quarter sales. Car companies are stepping in to preserve discounts and smooth the sell-down of existing EV inventory after […] The post Automakers extend $7,500 EV discount after federal subsidy expires appeared first on Auto Finance News.| Auto Finance News
Tricolor Holdings’ new loan servicer, Vervent, is facing collateral usage restrictions and demands from creditors to reclaim their auto parts in wake of the subprime lender’s Chapter 7 bankruptcy. Lender TBK Bank filed a notice Sept. 29 stopping Tricolor’s trustee from the surcharge, sale or use of its collateral. TBK also “demand[s] adequate protection of […] The post TBK Bank objects to Tricolor servicers using its collateral appeared first on Auto Finance News.| Auto Finance News
Wilmington Trust, National Association, a subsidiary of M&T Bank, as trustee for Tricolor Auto, is responsible for facilitating payments and providing protection for noteholders, managing defaults and ensuring that transactions are processed correctly. WTNA on Sept. 20 announced its intent to resign as indenture trustee and custodian for Tricolor’s asset-backed securitization (ABS) transactions but will […] The post Tricolor trustee plagued by payment challenges, potential fraud app...| Auto Finance News
Auto Finance News is pleased to announce that Ian Anderson, group president of Westlake Financial, will join a discussion on sustainable growth in auto lending at Auto Finance Summit 2025, returning Oct. 15-17 at the Bellagio Las Vegas. View the full event agenda here. Anderson has worked at Westlake for 20 years and was appointed group […] The post Westlake Financial Group President Ian Anderson joins Auto Finance Summit 2025 appeared first on Auto Finance News.| Auto Finance News
Is your refund strategy ready for a trade-in? Every year, automotive lenders issue millions of payouts for loan overpayments, lease deposits and the cancellation of aftermarket products, such as GAP insurance. But ensuring these refunds reach customers on time can be notoriously burdensome, with complex manual processes, high costs and regulatory risk. Onbe, an industry […] The post Driving Innovation in Automotive Refunds: How Onbe and Allied Solutions Are Modernizing the Payment Experienc...| Auto Finance News
Ford Motor Co.’s leader warned of a bleak outlook for electric vehicles as President Donald Trump’s policies breathe new life into gas-powered cars. The elimination of a $7,500 consumer tax credit and softening of emissions rules will sharply curtail EV demand in the US, according to Chief Executive Officer Jim Farley. He predicted the share […] The post Ford’s CEO sees Trump policies cutting US EV market in half appeared first on Auto Finance News.| Auto Finance News
The estimated value of tens of thousands of Tricolor Auto vehicles reportedly missing following the company’s Chapter 7 bankruptcy and subsequent servicer transition is up to $1.1 billion. About 30,000 vehicles are estimated to be missing that are marked for repossession, a market source tells Auto Finance News. Tricolor had about 100,000 outstanding loans, according […] The post Missing Tricolor vehicles could be valued up to $1.1B appeared first on Auto Finance News.| Auto Finance News
Some of Wall Street’s most notable corporate trust providers are reportedly turning down offers to take over for Wilmington Trust as Tricolor’s securitization trustee. Wilmington Trust indicated on Sept. 20 that it would step down as Tricolor’s trustee. The trust agreement requires Wilmington to find a replacement trustee within 30 days. Without a replacement trust, […] The post Wall Street trustees said to shun Tricolor job appeared first on Auto Finance News.| Auto Finance News
Powersports dealers are working closely with manufacturers to balance supply with a decline in sales and worsened consumer confidence, themes that were prevalent during Powersports Finance Summit 2025, held Sept. 23-24 in Columbus, Ohio. Lender Octane, for one, is working to provide the technology and finance programs needed to support dealerships as they face smaller […] The post Podcast: Sales, supply, promotions dominate Powersports Finance Summit 2025 discussions appeared first on Auto ...| Auto Finance News
Auto repair costs increased over the past year as consumers leaned into fixing their vehicles and overall costs of car ownership and...| Auto Finance News
Vietnam’s largest carmaker VinFast Auto Ltd. has secured a $150 million loan from Barclays Plc, as it advances expansion efforts to...| Auto Finance News
President Donald Trump’s latest legal setback on tariffs increases uncertainty for American importers while delaying economic dividends| Auto Finance News
Federal Reserve Chair Jerome Powell carefully opened the door to an interest-rate cut in September, pointing to rising risks for the labor...| Auto Finance News
Delinquencies climbed across auto loans in the second quarter, but at a lower rate than a year ago, as student loan repayments...| Auto Finance News
Banks grew their market share of used- and new-vehicle financing in the second quarter as credit unions and captives saw used share shrink,..| Auto Finance News
Auto sales rise in September, Q3 amid incentives, EV pull-ahead| Auto Finance News
Underlying US inflation accelerated in July to the strongest pace since the start of the year, though a tepid rise in goods prices...| Auto Finance News
Auto Finance News is the nation’s leading source for news, insights and analysis on automotive lending and leasing.| Auto Finance News
Falsified income, employment and identities have caused credit unions to lose millions to fraud in the past three years.| Auto Finance News