homeWelcome, sign in or click here to subscribe.login
     


 

 

Business


Subscriber content preview

August 28, 2014

Tighter new rules for asset-backed securities

  • The rapid increase in subprime auto lending has raised concerns that it could set off a wave of defaults like the mortgage market collapse.
  • By MARCY GORDON
    AP Business Writer

    WASHINGTON — Financial firms that sell securities backed by loans, like the kind that fueled the 2008 financial crisis, will have to give investors details on borrowers' credit record and income under action taken Wednesday by federal regulators.

    The Securities and Exchange Commission adopted the rules for securities linked to mortgages and auto loans on a 5-0 vote.


     
    . . .


    To read this story in full login or purchase a subscription.



    
    Email or user name:
    Password:
     
    Forgot password? Click here.