07-19-2014, 06:51 PM
I looked at USB's Q2 presentation and it shows their auto loans customers have a weighted average FICO score of over 750 (including indirect loans), so I guess I can still feel good about them.
WFC's presentation doesn't contain that information, except to say auto lending is a strong growth driver. Their income stream is very diversified so I'm sure the risk is minimal. Still, it's troublesome from the perspective of "buying the management."
WFC's presentation doesn't contain that information, except to say auto lending is a strong growth driver. Their income stream is very diversified so I'm sure the risk is minimal. Still, it's troublesome from the perspective of "buying the management."