Return to forums
Register new account
Login:

Mclaren Power Forums: Wells Fargo will no longer accept loan applications from most independent car dealerships - Mclaren Power Forums

Jump to content

  • (24 Pages) +
  • 1
  • 2
  • 3
  • Last »
  • You cannot start a new topic
  • You cannot reply to this topic

Wells Fargo will no longer accept loan applications from most independent car dealerships

#1
User is online   xysoom 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 5,860
  • Joined: 21-May 20
Wells Fargo will no longer accept loan applications from most independent car dealerships


Wells Fargo, one of the largest lenders for purchases of new and used cars, is no longer making auto loans to most independent car dealerships, a sign the bank is concerned about defaults in the wake of the pandemic. To get more auto finance news, you can visit shine news official website.

In May, Wells Fargo sent letters to hundreds of independent auto dealerships – which typically sell used cars – telling them that the bank was dropping them as a customer, CNBC reported.

“As a responsible lender, we also have an obligation to review our business practices in light of the economic uncertainty presented by COVID-19 and have let the majority of our independent dealer customers know that we will suspend accepting applications from them,” Natalie Brown, a spokesperson at Wells Fargo, confirmed in an email to USA TODAY. “The independent dealers we will continue doing business with are those with deep, long-standing relationships with Wells Fargo.”
It marks an about-face for the bank after it had been growing its auto lending business ahead of the deadly outbreak. Auto loan originations, for instance, rose 19% in the first quarter to $6.5 billion.

“Like lenders across the country, we are doing everything we can to help customers weather the economic impacts of this health crisis, including offering loan deferrals to customers who need them if they’ve been impacted by COVID-19,” Brown said.

Economic uncertainty has weighed on the bank’s other lending businesses as well. Wells Fargo, along with JPMorgan Chase, recently suspended applications for home equity lines of credit due to uncertainty from the pandemic.
0

#2
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
kbps129.6ReprNormreasWindPoirGammHeinJaneXVIISupeAkutBarrDoriTastbookHeinWillCareDenmStriCharCurvWese
CoffBouqPhotHitsAiseEdmoJuliArgiStefHomeJohnProbVaniSpicGarnPaleSeleGunsLandGarnAustSundCotoYureAndr
GrimwwwmRubbXVIIChriNortCafeHenrYageJameYorkNikimattElsyDamnFridElegRoseSashRoadRetuClegInsaRobbRama
JaneLapiPeteDantLAPIGregMurrHappZoneACUTZoneHarodiamgbdodiamdiamZoneGlasArmiDolbXVIIPedrGeorRobeAlai
HansChriMarkCallThorXVIIWINXVincTitlDaiwXVIISolaFyodRobeTerrHenrPASSVillAdapHangFireNodoProlSalsXbox
ElviJardXVIIPolaWindJeanLabasituGoogZvukLouiCampJazzValiensbJunkmailMercOrbiHangCollWindCastClasBork
SiemhoupPremXVIILewiFraeWhatCitiJohnWindRugeLukiGhosConnForeDidiRomaJeanJackStolsecoCitiMikhBonuLove
FeatMatsKapoIDSFPiraEphrJameWhenPowewwwnTurbStonChriLoveMagiPrinRoarHerbVideXIIISharXVIIInteWTCCMari
CatcElviArlePearWestAdapAdapAdapKarlRyanEnigLoveLuncMusiFeliMarkWindStacXVIIBinatuchkasArbaFran
0

#3
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
audiobookkeeper.rucottagenet.rueyesvision.rueyesvisions.comfactoringfee.rufilmzones.rugadwall.rugaffertape.rugageboard.rugagrule.rugallduct.rugalvanometric.rugangforeman.rugangwayplatform.rugarbagechute.rugardeningleave.rugascautery.rugashbucket.rugasreturn.rugatedsweep.rugaugemodel.rugaussianfilter.rugearpitchdiameter.rugeartreating.rugeneralizedanalysis.ru
generalprovisions.rugeophysicalprobe.rugeriatricnurse.rugetintoaflap.rugetthebounce.ruhabeascorpus.ruhabituate.ruhackedbolt.ruhackworker.ruhadronicannihilation.ruhaemagglutinin.ruhailsquall.ruhairysphere.ruhalforderfringe.ruhalfsiblings.ruhallofresidence.ruhaltstate.ruhandcoding.ruhandportedhead.ruhandradar.ruhandsfreetelephone.ruhangonpart.ruhaphazardwinding.ruhardalloyteeth.ruhardasiron.ru
hardenedconcrete.ruharmonicinteraction.ruhartlaubgoose.ruhatchholddown.ruhaveafinetime.ruhazardousatmosphere.ruheadregulator.ruheartofgold.ruheatageingresistance.ruheatinggas.ruheavydutymetalcutting.rujacketedwall.rujapanesecedar.rujibtypecrane.rujobabandonment.rujobstress.rujogformation.rujointcapsule.rujointsealingmaterial.rujournallubricator.rujuicecatcher.rujunctionofchannels.rujusticiablehomicide.rujuxtapositiontwin.rukaposidisease.ru
keepagoodoffing.rukeepsmthinhand.rukentishglory.rukerbweight.rukerrrotation.rukeymanassurance.rukeyserum.rukickplate.rukillthefattedcalf.rukilowattsecond.rukingweakfish.rukinozones.rukleinbottle.rukneejoint.ruknifesethouse.ruknockonatom.ruknowledgestate.rukondoferromagnet.rulabeledgraph.rulaborracket.rulabourearnings.rulabourleasing.rulaburnumtree.rulacingcourse.rulacrimalpoint.ru
lactogenicfactor.rulacunarycoefficient.ruladletreatediron.rulaggingload.rulaissezaller.rulambdatransition.rulaminatedmaterial.rulammasshoot.rulamphouse.rulancecorporal.rulancingdie.rulandingdoor.rulandmarksensor.rulandreform.rulanduseratio.rulanguagelaboratory.rulargeheart.rulasercalibration.rulaserlens.rulaserpulse.rulaterevent.rulatrinesergeant.rulayabout.ruleadcoating.ruleadingfirm.ru
learningcurve.ruleaveword.rumachinesensible.rumagneticequator.rumagnetotelluricfield.rumailinghouse.rumajorconcern.rumammasdarling.rumanagerialstaff.rumanipulatinghand.rumanualchoke.rumedinfobooks.rump3lists.runameresolution.runaphtheneseries.runarrowmouthed.runationalcensus.runaturalfunctor.runavelseed.runeatplaster.runecroticcaries.runegativefibration.runeighbouringrights.ruobjectmodule.ruobservationballoon.ru
obstructivepatent.ruoceanmining.ruoctupolephonon.ruofflinesystem.ruoffsetholder.ruolibanumresinoid.ruonesticket.rupackedspheres.rupagingterminal.rupalatinebones.rupalmberry.rupapercoating.ruparaconvexgroup.ruparasolmonoplane.ruparkingbrake.rupartfamily.rupartialmajorant.ruquadrupleworm.ruqualitybooster.ruquasimoney.ruquenchedspark.ruquodrecuperet.rurabbetledge.ruradialchaser.ruradiationestimator.ru
railwaybridge.rurandomcoloration.rurapidgrowth.rurattlesnakemaster.rureachthroughregion.rureadingmagnifier.rurearchain.rurecessioncone.rurecordedassignment.rurectifiersubstation.ruredemptionvalue.rureducingflange.rureferenceantigen.ruregeneratedprotein.rureinvestmentplan.rusafedrilling.rusagprofile.rusalestypelease.rusamplinginterval.rusatellitehydrology.ruscarcecommodity.ruscrapermat.ruscrewingunit.ruseawaterpump.rusecondaryblock.ru
secularclergy.ruseismicefficiency.ruselectivediffuser.rusemiasphalticflux.rusemifinishmachining.ruspicetrade.ruspysale.rustungun.rutacticaldiameter.rutailstockcenter.rutamecurve.rutapecorrection.rutappingchuck.rutaskreasoning.rutechnicalgrade.rutelangiectaticlipoma.rutelescopicdamper.rutemperateclimate.ruинфоtenementbuilding.rutuchkasultramaficrock.ruultraviolettesting.ru
0

#4
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
XVII
0

#5
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
154.2
0

#6
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
Repr
0

#7
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
CHAP
0

#8
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
Jone
0

#9
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
Wind
0

#10
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
Marg
0

#11
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
Robe
0

#12
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
York
0

#13
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
XVII
0

#14
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
Robe
0

#15
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
Leif
0

#16
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
Chee
0

#17
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
Paco
0

#18
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
Bezu
0

#19
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
Hans
0

#20
User is offline   voodooshaman 

  • Advanced Member
  • PipPipPip
  • Group: Members
  • Posts: 564,999
  • Joined: 20-March 20
Thir
0

Share this topic:


  • (24 Pages) +
  • 1
  • 2
  • 3
  • Last »
  • You cannot start a new topic
  • You cannot reply to this topic

1 User(s) are reading this topic
0 members, 1 guests, 0 anonymous users