News for December 23, 2013

  • TD Bank plans to up its service game, reduce its number of dealer-clients, and build a model for more efficient future growth. The expected result:  Slower U.S. originations in the coming quarters.
  • Lenders plan to combat stiffening competition and increased regulatory scrutiny in 2014 with expansion efforts and enhanced compliance.
  • Months after Nicholas Financial first revealed it had a suitor, Prospect Capital Corp. has come forward saying it will buy the Clearwater, Florida-based subprime lender for $326 million.
  • Black Friday retailers typically pull out all the stops to outsell rivals and attract discount-hungry consumers. But with competition intensifying, auto lenders will likely face an extended holiday sale season as they seek to attract customers, a scenario that has already started to squeeze profits.


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