Peter Muriungi, CEO of Chase Auto, said at the summit Chase had adjusted to rising delinquencies primarily by getting tougher on borrower collateral. He said the bank was not as worried about the number of borrowers missing payments, but “collateral’s a bit concerning.” Chase cut back the amount it would loan on used vehicles relative to their value, and “we might pull back a little bit more there,” he said.
However, for the most part, Chase adjusts its auto loan underwriting on…
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