FDIC approves GM Financial Bank, Ford Credit Bank
GM Financial and Ford Credit are one step closer to forming industrial banks following approval this week from the FDIC and Utah Department of Financial Institutions. ...
CFPB funding in jeopardy following DOJ decision
The Consumer Financial Protection Bureau may run out of funds to operate in early 2026 after the Department of Justice’s Office of Legal...
NextGear Capital salvage, heavy-duty truck portfolios grow 51%
Independent dealer floorplan financing provider NextGear Capital’s salvage and heavy-duty truck businesses have gained steam as floorplan lenders saw growth...
CFPB pause prompts concern of ‘regulatory vacuum’
Lenders must be mindful of existing consumer law and state-level enforcement despite the current pause in enforcement activity by the...
CFPB fires Rohit Chopra, ceases active litigation
The Trump administration fired Consumer Financial Protection Bureau Director Rohit Chopra on Feb. 1, prompting questions regarding pending cases and the bureau’s direction. ...
EV maker Workhorse seeks funding, cuts 20% of staff
Commercial electric truck manufacturer Workhorse has cut 20% of its staff and is working to shore up funding to maintain operations amid...
Chicago Fed’s Lavelle joins Equipment Finance Connect speaker faculty
Martin Lavelle, senior business economist at the Federal Reserve Bank of Chicago, will take the stage to discuss the Fed's...
Commercial fleet lessors face new disclosure requirements
Automotive commercial fleet lessors subject to new disclosure requirements under California’s law passed earlier this month face potentially unexpected costs...
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