"It has highlighted our exposure, and sent a signal to plaintiffs' lawyers, " says Jeffrey Levine , Chase Auto Finance's general counsel.
And we are working intensively with the auto finance companies to increase the flow of credit to both consumers and dealers.
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Banks like Ally and like TD Bank, the parent company of TD Auto Finance, the former Chrysler Financial, can use deposit accounts to originate auto loans and leases.
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As unpalatable as it may be to consider, hospitals are of necessity and in fact credit grantors, not entirely dissimilar from auto finance lenders, mortgage originators, or credit card companies.
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Raising it will mean shifting from commodities like mortgages to auto loans and consumer finance.
Raising it will mean shifting from such commodities as mortgages to auto loans and consumer finance.
Lu Guanqiu chairs the Hangzhou-based Wanxiang Group, a conglomerate with interests in real estate, finance and auto parts manufacturing.
The totals include bank-issued and retail credit cards, auto loans, consumer-finance loans, home-equity lending and student loans.
Auto lessors--the captive finance arms of automakers, banks and independent leasing companies--are terrified.
That means it'll be more costly to GMAC to borrow funds to finance its loan engine than if the auto lender had climbed back to investment grade status, a perch it hasn't occupied since last spring.
And that's why last week Ed and Karen Mills, my Small Business Administration chief, traveled to Indiana to announce a new plan to provide loans to auto, RV, and boat dealers to help finance floor plans.
But the finance side has more tiptoeing to do before auto sales come to the rescue.
First, the auto industry has so many connected jobs in real estate, finance, manufacturing and other industries, that is hard to separate it out.
The Finance Ministry announced the newest stimulus plan on Monday, most of it going to the auto industry following six straight months of declining sales.
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