Weekly Wrap: Ford Credit earnings and compliance experts on best practices

<p>This week, <a href="https://www.autofinancenews.net/?s=Ford+Motor+Credit">Ford Motor Credit</a> propped up <a href="https://www.autofinancenews.net/?s=Ford+Motor+Co.">Ford Motor Co.</a>’s <a href="https://www.autofinancenews.net/allposts/finance/earnings/ford-credit-pillar-of-strength-for-companys-q2-performance/">second-quarter performance</a> with strong consumer loans and leases, and low delinquency rates as major banks tightened credit underwriting standards. </p><p>Still, Ford Credit increased its allowance for credit losses in anticipation of the end to extension programs and continued economic fallout from the COVID-19 pandemic. Lenders will need to be ready to make tough decisions as payment assistance programs come to a close. During this week’s <a href="https://www.autofinancerisksummit.com/">Auto Finance Risk Summit webinar</a>, compliance experts shared <a href="https://www.autofinancenews.net/allposts/operations/comp-reg/with-deferrals-ending-compliance-experts-discuss-ethics/">regulatory best practices</a> for lenders during this unprecedented time.</p><p> In this edition of the Weekly Wrap, Joey Pizzolato and Amanda Harris discuss these news developments during the week ending Aug. 7, 2020. Next week, <em>Auto Finance News</em> will dive into the inner workings of a new digital auto lender in the refinance space and Ford’s new credit card program with linked incentives. </p>