Wall Street Warns Drop in Used-Car Prices Risks Auto-Loan Defaults Rising – Bloomberg

Bloomberg: Balance of Power focuses on the politics and policies being shaped by the agenda of President Biden’s administration.
Part social gathering spaces, part retail meccas, malls were once the centerpiece of the suburban American experience. Now, faced with challenges from all sides, most are barely hanging on. Here’s what happened to American malls.
Transcript: Matt Levine on the Collapse of Alameda and FTX
Morgan Stanley International Head Franck Petitgas to Step Down
ECB’s Centeno Sees Conditions to Slow Rate Hikes in December
RBNZ Poised for Unprecedented Jumbo Rate Hike to Fight Inflation
Top Union Vows to Press Wage Demands, Squeezing Bank of Canada
Beyond Meat Plant’s Dirty Conditions Revealed in Photos, Documents
New This Week: Lizzo, ‘Criminal Minds’ And ‘The Woman King’
NASA’s Orion Capsule Comes Within 81 Miles of the Moon On Way to Lunar Orbit
Twitter France Head Quits in Exodus, Says ‘It’s Over’
Musk Fires More Twitter Sales Workers After ‘Hardcore’ Purge
Obama Heads Back to Georgia to Help Warnock in Senate Runoff
Oath Keeper’s Lawyer Tells Jury ‘Hoodlums’ Caused Jan. 6 Attack
What Is Happening With UK Mortgage Rates? Are They Going Up or Down?
How Fidelity Investments Built America’s Biggest Charity
Cristiano Ronaldo Hits 500 Million Instagram Followers After Louis Vuitton Ad
After Fine-tuning, ‘The Hours’ With Fleming Opens At the Met
Nuclear Power Has One Last Chance to Flourish in the US
It’s a Tough Year for Sick Kids. Here’s How to Help
Democrats Are Making a Mistake on the Debt Limit
How to Make Your Company Accessible for Disabled Employees
Tech Layoffs Send H-1B Visa Holders Scrambling for New Jobs
Sears Limps Through What Could Be Its Final Holiday Season
Women Are Key Metaverse Users, But Men Dominate Jobs Shaping It
Biggest US Rail Unions Split on Labor Deal, Raising Odds of Strike
EV Battery Heavyweights Revive City’s Dream of Factory Glory
Bill Gates-Led Fund Backs Pulsed-Power Technology to Clean Up Mining
Anonymous Donors Put Wealth Redistribution Into Activists’ Hands
These Cities Have the Best Public Transit Systems
How Buffalo Survives Supercharged Snow
What Does the Fall of FTX Mean for the Future of Crypto? (Podcast)
FTX Owes Its 50 Biggest Unsecured Creditors More Than $3 Billion
FTX Starts Global Asset Review as Part of Chapter 11 Process
and

The largest US banks are warning of trouble ahead in auto loans as dropping prices for used cars risk leaving borrowers underwater. 
Wells Fargo & Co. said that higher loss rates for loans it originated late last year contributed to an increase in write-offs for the period. Ally Financial Inc., the country’s second-largest auto lender, saw charge-offs for retail auto loans quadruple in the third quarter. And Fifth Third Bancorp said it’s pulling back on originations.

source

Leave a Comment