With more than $1 trillion in loans outstanding, the auto loan market is booming. Experian estimates that subprime loans represent $205 billion and $388 billion of that total.
- The Subprime Auto Loan Market Is About to Collapse – Here's How to Profit
- Bank of America (NYSE: BAC), the Department of Justice, and Subprime Auto Loans
Bank of America Corp. (NYSE: BAC) is in tentative talks with the U.S. Department of Justice to pay between $16 billion to $17 billion for its part in selling shoddy mortgages, being a Too Big to Fail bank that wasn't allowed to fail but now has to pay the piper.
Today, I'm going to tell you the story behind this, and a story about subprime auto loans.