Fed amends stress test due to COVID-19
COVID-19 is changing the Federal Reserve’s oversight of banks, Randal Quarles, vice chairman of supervision at the central bank, said ...
Tag: jp morgan chase
Vroom and Carvana: A tale of two IPOs
Timing is everything. Vroom priced an initial public offering this week, and shares shot up 118% to $47.90 each in ...
Leveraging Liquidity: Lenders brace for the coronavirus recession [Feature]
Auto financiers are bracing for the rocky road ahead as vehicle sales plummet, consumer demand tanks and expected credit losses ...
Fed: Big banks tighten credit standards on auto loans
Eight major banks tightened auto loan underwriting standards in the first quarter, according to the Federal Reserve’s Senior Loan Officer ...
GM, Ford credit arms may lose billions on used-car price plunge
General Motors Co. and Ford Motor Co.’s finance arms likely face multibillion-dollar losses linked to the dramatic drop in used-vehicle ...
Weekly Wrap: Earnings season kicks off, COVID-19 spurs increased reserves [Video]
This week kicked off first-quarter earnings season with JPMorgan Chase, Wells Fargo, Bank of America, and Consumer Portfolio Services reporting ...
Subprime stocks drop $7B in market cap since March
The auto finance sector has been pressured from all sides since COVID-19 took root in the U.S. With vehicle production ...
JPMorgan Chase, Wells Fargo hunker down for increased credit losses
JPMorgan Chase and Wells Fargo are stockpiling reserves in the expectation of increased credit losses as a result of the ...
