Huntington, Volvo Financial commercial outstandings rise as equipment market normalizes
Commercial financiers Huntington Bank and Volvo Financial Services’ commercial and industrial books grew in the first quarter as the equipment market normalizes. Huntington Bank’s commercial and institutional loan outstandings landed at $47 billion in Q1, up 4.3% quarter over quarter and
Opinions mixed on finalized CFPB section 1071 Dodd-Frank rulemaking
Opinions are mixed on the Consumer Financial Protection Bureau’s finalized rule that requires small businesses such as equipment dealers to collect information from customers, as financial institutions prepare for new small business lending reporting requirements. The CFPB issued a final rule
PacWest, Western Alliance stocks continue to plummet
Regional equipment financiers PacWest and Western Alliance Bank continued to see their stock crater Monday as investors showed concern over banks. Several banking stocks declined Monday as part of the fallout from the closure of both Silicon Valley Bank and Signature
Signature Bank collapses, enters FDIC receivership
Signature Bank, the parent company of equipment financier Signature Financial, entered Federal Deposit Insurance Corp. receivership Sunday following the collapse of Silicon Valley Bank on Friday. Signature Bank was closed by the New York State Department of Financial Services on Sunday
Cat Financial revenues jump despite drop in new business volume
Cat Financial, the finance subsidiary of equipment manufacturer Caterpillar, posted increased revenues despite declining new business volume thanks to favorable interest rates. For the full year, Cat Financial posted $11.4 billion in originations, a decline of 13.3% from 2021, according to
Leasing, rentals gain traction on high-tech assets
Equipment companies are turning to rentals and leases for assets featuring advanced technology that carries a shorter lifespan. “One of the trends that we're seeing lately is that there is a preference to rent or lease items that are higher technology
Fed: Equipment supply chain, commercial lending mixed
Equipment supply chain disruptions have eased, but several regions are still experiencing challenges that drive up costs as commercial lending demand slows. The Federal Reserve System Wednesday released the January edition of its Beige Book, based on data collected as of
Limited systems integration stunts captives’ innovation
Captive finance organizations are critical to the success of the equipment financing industry, but limited systems integration with parent organizations is creating a barrier to innovation. For captives and their parent companies, connecting the digital ecosystems of both organizations is the
DLL enters financing partnership with Waev
DLL has become the preferred financing partner for electric vehicle manufacturer Waev’s GEM and Taylor-Dunn brands in the United States. DLL will offer both floorplan and end-user financing for Anaheim, Calif.-based Waev dealers, according to a release from the Netherlands-based global
Commercial fleet lessors face new disclosure requirements
Automotive commercial fleet lessors subject to new disclosure requirements under California’s law passed earlier this month face potentially unexpected costs and a new level of regulatory oversight. The state’s Department of Financial Protection and Innovation’s (DFPI) regulations for commercial financing disclosures
