AI-Summary – News For Tomorrow
Two subprime lenders, Tricolor Auto Acceptance and Automotive Credit Corp., have recently experienced closures or pauses in operations. Tricolor Auto Acceptance filed for bankruptcy on September 10th, while Automotive Credit Corp. suspended originations on August 7th. These events may signal a widening gap between smaller and larger lenders in the subprime lending market.
News summary provided by Gemini AI.
As two subprime lenders are pausing or shuttering business, lenders say the success gap between small- and large-scale lenders may continue to widen. Subprime lender and retailer Tricolor Auto Acceptance filed for bankruptcy on Sept. 10, after subprime lender Automotive Credit Corp. indefinitely paused all originations Aug. 7. The recent closures are prompting lenders to […]
