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.
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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.