CNBC's David Faber reports the Treasury Department will sell its remaining shares in Ally Financial which were acquired under the government's bailout of the auto lender. Jim Cramer provides insight.» Read More
Aug 4- General Motors Co's auto financing arm said it received a subpoena from the U.S. Department of Justice to produce documents related to subprime auto loans since 2007..
NEW YORK, July 29- Ally Financial Inc reported a bigger-than-expected quarterly profit on Tuesday as auto lending jumped 11 percent to the second-highest level in the company's history. The former financing arm of General Motors Co said it had earned $323 million, or 54 cents per share, in the second quarter.
CNBC's Phil LeBeau; John Berlau, The Competitive Enterprise Institute; and the "Closing Bell" panel discuss if the rise in subprime loans will trigger another crisis.
This will be the best auto year probably in the last eight or nine years, predicts John Stumpf, Wells Fargo CEO, sharing his expectations on the auto industry. And AutoNation's Mike Jackson, weighs in.
Bank of America will announce it will lower the threshold for consumers who qualify for discounts on loans and other benefits.
CNBC's Phil LeBeau reports on the new ways customers are financing their vehicles.
Americans defaulted at the lowest rates last month since before the recession rocked the U.S. economy, according to a new report.
Jeff Snider, Alhambra Investment Partners, says the growth in auto and student loan debt are the best ways to create systemic poverty in the U.S.
Ally Financial is debuting on Wall Street. Michael Carpenter, Ally CEO, discusses the company's IPO pricing range and why the bank chose to go public and not sell.
CNBC's Phil LeBeau reports the average auto loan is now averaging $27,430 according to Experian. The "Closing Bell" panel provides perspective on the data.
CNBC's Phil LeBeau reports the average auto loan is now at an all-time high.
CNBC's Phil LeBeau details the latest new car loan data.
Alec Gutierrez, Senior Market Analyst, Automotive Insights at Kelley Blue Book said low rates and enticing lease offers have helped to get consumers back into auto showrooms.
CNBC's Rick Santelli discusses rising rates and auto sales.
Renaud Laplanche, CEO of Lending Club, discusses the growing trend among some consumers to bypass banks and borrow money directly from individuals.
Ezra Becker, TransUnion, provides an overview of the U. S. consumer credit landscape, including a look at credit card use, mortgage lending, student loan volumes and auto lending.
David Dietze, President & Chief Investment Strategist at Point View Wealth Management, says that investors should not get into Tesla Motors as the stock is just too expensive.
The percentage of auto loans that are past due is rising due to subprime borrowers, reports CNBC's Phil LeBeau.
With more cars on the lot this year, the summer auto sale are likely to be back in full force. But not every deal is a steal. Consumers will need to shop wisely.
The Consumer Financial Protection Bureau expanded its probe into the car loan industry by issuing subpoenas to auto lenders over the sale of financial products like extended warranties, the WSJ reported.