Losses are lurking behind the spotlight of record auto lending activity.
Lawsuits over repossessions are increasing and following each step of the law is critical, a credit union lawyer advises.
Credit unions continue to bask in the glow of their record auto lending growth, but an increase in subprime repossessions may be a cause for pause.
Total up $103 billion from year-ago third quarter, credit bureau data shows.
Second quarter repos drop almost 15%, credit bureau says.
As the recession snaked its way into the economy in 2008, credit unions braced for the impact it would have on members in unemployment, rising debt and underwater mortgages.
California-based Repo Remarketing also notes increase in "hard to find" cases.
This series of illustrations show how, according to Experian, credit unions are holding their own when it comes to balances, delinquencies and repossessions.
This slide show illustrates how, according to Experian, credit unions are holding their own when it comes to balances, delinquencies and repossessions.