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

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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.


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