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Exclusive: U.S. regulators press banks for more on auto loan exposure to assess risks
Reuters: U.S. regulators are asking banks for more detail on their autos financing exposure, as rapid growth in the lending has prompted officials to seek to better assess the risks, according to a person familiar with the matter.
Balances remaining on auto loans have risen by about a third since April 2011, reaching an all-time high of $924.2 billion in August, according to credit reporting bureau Equifax. About a fifth of the loans are subprime.
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