The US justice department is investigating allegations of fraud at Tricolor Holdings, a subprime car lender that has collapsed into bankruptcy and left banks facing potential losses of hundreds of millions of dollars.
The Department of Justice is probing Tricolor over alleged irregularities related to car loans and had contacted people close to the company in recent weeks, according to two people briefed on the matter.
JPMorgan and Fifth Third Bank each have about $200mn in exposure, the Financial Times has reported. Barclays is also listed as one of Tricolor’s secured lenders in disclosures made as part of the group’s bankruptcy filing in Texas federal court on Wednesday.
您已阅读22%（679字），剩余78%（2409字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。