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The Trump administration wants the Small Business Administration to shrink its workforce by 43%. At the same time, the agency is being asked to start managing the federal government's student loan portfolio.
Loans on used cars, extended to borrowers with prime credit characteristics, make up the reference pool of assets.
President Donald Trump's executive order severely limiting the Treasury's Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.
Amid troubling news of tariffs and layoffs, dropping delinquencies offer a rare sign of consumer health.
An executive order issued late Friday cut the Treasury Department Community Development Financial Institution Fund and other federal programs to their legal minimum.
Bankers' surveys of commercial clients have found that corporate decision-makers are less concerned about adverse tariff effects than nervous investors.
FHF sources almost all its loans—most recently 96% in 2024—from franchise dealers.
New York Attorney General Letitia James announced new state legislation to ban unfair and abusive business practices, giving state regulators broader authority to crack down on consumer abuses.
The deal is structured as a public securitization, under Rule 144A, and is supported by lending indirectly through more than 1,100 partnerships across the country.
Sen. Mike Rounds, R-S.D., has filed a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau's rule barring medical debt from credit reports.
The United Auto 2025-1 series of notes has a more mixed subordination element compared with the previous deal.
The KBW Nasdaq Bank Index is down more than 7% year to date. Analysts blame confusion caused by President Trump's evolving tariff policies and heightened worries about an economic downturn that could hurt banks' credit quality.
Forecasters on an American Bankers Association panel predict continued economic growth this year, though they say President Trump's tariffs have created new inflation and recession risks.
Following a record-setting 2024, only one transaction involving a credit union buying a bank has been announced so far this year. Seller concerns about regulatory approval and pushback from bank industry groups have contributed to the slowdown.
It is the program's second issuance to come to market with a pool made up entirely of consumer loans.
Changes are needed to shore up the agency's finances and guarantee the integrity of its flagship 7(a) lending program, according to a leading trade group.
Affirm grade A loans account for 34.8% of the pool and have historically produced the lowest defaults in the sponsor's managed portfolios.
With that sizable fire power, Alcentra hopes to meet the growing market demand for collateralized loan obligations.
Small-balance commercial mortgages, SBA 504 and investor loans, all first-lien, make up the collateral pool.
Deal advisors said the Trump administration's tariff threats and the specter of inflation have given some bankers reason to pause on acquisition plans. Momentum could still mount, but uncertainty in Washington is a detriment early in the new year.
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