SHIFT · US
Truist exits near-prime auto lending, sells $5.5B portfolio
Truist Financial, a top-10 U.S. bank by assets, announced sale of $5.5B auto loan portfolio and full exit from near-prime auto finance. Move reflects strategic pivot to higher-margin businesses and reduced appetite for subprime credit risk.
WHY IT MATTERS
Top-tier bank leaving consumer auto credit signals market saturation and tightening credit underwriting; fintech lenders and captive finance arms now own disproportionate share of near-prime risk; AI-driven collections becomes table-stakes.
Source: PYMNTS · 2026-09-15