Weekly Wrap on Q3 earnings, Auto Finance Summit preview
Third-quarter earnings season continued last week with many financial institutions reporting sequential declines in auto loan originations. Take a listen to the earnings breakdown.
Bank of America, Chase Auto, Citizens Bank, Fifth Third Bank, Huntington Bank, PNC Financial, U.S. Bank and Wells Fargo have all reported sequential declines in outstandings for Q3. Citizens Bank recorded the largest quarter-over-quarter decline at 5.1%. Alternatively, Ally Financial and Truist are the only institutions to report sequential increases at 2.2% and 2.9%, respectively.