Community banks and credit unions are facing a wave of defaults as a rising percentage of subprime borrowers are unable to make payments on their cars. With repossessions surging, local banks will face solvency issues as car prices fall.
Community banks and credit unions are facing a wave of defaults as a rising percentage of subprime borrowers are unable to make payments on their cars. With repossessions surging, local banks will face solvency issues as car prices fall.