Weekly Wrap: Ford Credit earnings and compliance experts on best practices

This week, Ford Motor Credit propped up Ford Motor Co.’s second-quarter performance with strong consumer loans and leases, and low delinquency rates as major banks tightened credit underwriting standards.

Still, Ford Credit increased its allowance for credit losses in anticipation of the end to extension programs and continued economic fallout from the COVID-19 pandemic. Lenders will need to be ready to make tough decisions as payment assistance programs come to a close. During this week’s Auto Finance Risk Summit webinar, compliance experts shared regulatory best practices for lenders during this unprecedented time.

In this edition of the Weekly Wrap, Joey Pizzolato and Amanda Harris discuss these news developments during the week ending Aug. 7, 2020. Next week, Auto Finance News will dive into the inner workings of a new digital auto lender in the refinance space and Ford’s new credit card program with linked incentives.