Sell? Downsize? Shutter? What’s your guess? Auto lending is on the chopping block. What’s your predictions?
8 replies (most recent on top)
Chopping block for sure - old school
Charlie apparently doesn’t like anything having to do with banking. So my guess is he’s going to somehow unload this business line too.
The whole bank should just be sold.
Sell. Surprised it hasn’t happened already.
Just like mortgage they are getting out of auto financing and mortgages
Shutter and runoff of what's on the book
I'm not sure it's an asset that other companies really want enough to pay much for it. My guess is, they'll do to auto what they are doing to mortgage. Drastically reduce the scale of our ops and focus on rich clients and the whole DIE aspect of only loaning money to non-white people. For the record, rich whites are tolerable customers to CS. Poor and middle class whites, not so much.
This rumor has been floated for nearly a decade. Always possible, but why now all of a sudden?