Volume 2014 - Number 32
August 15, 2014
DOJ Subpoenas Top Subprime Auto ABS Issuers GM Financial, Santander Consumer; Who’s Next?
The Department of Justice recently subpoenaed GM Financial and Santander Consumer USA, two of the largest subprime auto ABS issuers in the U.S., over concerns about their subprime auto lending and securitization operations, the two companies recently revealed. The developments suggest that such regulatory scrutiny of the sector in the wake of the financial crisis is intensifying, market participants and policy analysts say. Whether that will pose a substantial risk to other lenders remains to be seen. GM Financial announced...
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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
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