Sometimes you have to get a “maybe” before you can get a “yes.” That’s apropos of the long path to acceptance of new methods in well-established markets with well-worn channels and dominant players. Auto finance has presented such a challenge, but, finally, Fintech has made inroads. Below, we look at how Fintech is disrupting auto financing and refinancing and transforming the market in multiple...
Davis+Gilbert recently attended the Benzinga Cannabis Capital Conference, where the most significant and influential industry participants met to discuss the opportunities and challenges of funding growth in the cannabis industry. Joseph Cioffi moderated a discussion regarding the experience of Real Estate Investment Trusts (REITs) and the outlook for financing and regulations.
Investors and lenders focused on environmental, social and governance (ESG) principles will find opportunities for “green” financing in cannabis, but risk abounds as the truthfulness of ESG claims and disclosures are on the SEC’s radar. Last month the SEC put out a proposed rule that if adopted could lead to increased climate-related disclosures for companies subject to SEC oversight. While...
The third year of the pandemic brings with it questions of when normalization might occur in subprime auto lending and securitization. All eyes are on supply shortages, which have kept used vehicle prices in the stratosphere, and inflation, which could cause consumers financial distress. With these issues in mind, in a recent article in Structured Credit Investor, we compared Credit Chronometer’s...
In recent months, SEC Chair Gary Gensler has referred (on more than one occasion) to crypto as the “Wild West.” As cliché as that may sound, the shoe, or boot, seems to fit quite well. Similar to the aggressive expansion westward in the 1800s that shaped the nation, crypto is a magnet for exploratory investors (as evidenced by a growing total market value of over $3 trillion) and has an...
Delinquencies and losses should be the canary in the coal mine for performance trends, but they can also wag the dog, drawing attention away from looming issues. In subprime lending, borrowers could demonstrate the first indications of trouble for the economy at large, as economic issues tend to impact them first. Now, as auto loan forbearance programs and extended unemployment benefits and...
Student loan forgiveness efforts are stalled, federal agencies are attacking educational legal issues from a variety of angles, and coordinated action among agencies and attorneys general are expected to increase. With the Biden administration refocusing its efforts on regulatory oversight across various lending sectors, and recent stronger standards passed by the Department of Education (DOE) on...
