While the coronavirus pandemic is shifting consumer credit metrics and disrupting marketplace trends, credit and automotive finance experts say lenders are adapting to the changing environment. Lenders have more tools at their disposal for guidance and clarity than they did during the 2008 financial crisis, such as employment verification instruments …
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Major U.S. auto lenders took a beating in the first quarter due to the coronavirus, though most losses cited by the top banks came from preparations for the carnage yet to come. Lenders entered crisis mode at the tail end of March when COVID-19 closures dried up auto sales and …
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