Federal Reserve economist Martin Lavelle joins Equipment Finance Connect 2024
Equipment Finance Connect is pleased to again welcome the Federal Reserve to this year’s speaker faculty. Martin Lavelle, senior business economist for the Federal Reserve Bank of Chicago, will present at Equipment Finance Connect 2024 on the impact of current
Equipment Finance Connect 2024 agenda is live, registration open
Equipment Finance News is pleased to announce that the agenda for Equipment Finance Connect 2024 is live. The conference takes place at the Omni Nashville Hotel in Nashville, Tenn., on May 5-7, 2024. Now in its second year, the event offers
EFC 2023: First Citizens Bank Equipment Finance eyes $750M in industrial originations in 2023
This story was originally published on March 1, 2023, in Auto Finance News Get updates on details for our 2024 Equipment Finance Connect, taking place May 6-7, 2024 here. First Citizens Bank Equipment Finance has its eye toward growth in its industrial portfolio
Avoiding fraud: Contact parties, check addresses
Equipment lenders must be wary of the increased frequency of fraud currently plaguing the industry. Equipment financiers continue to face problems related to fraud schemes, such as no actual equipment in the deal, no actual lessee or no actual deal,
CNH Industrial Capital outstandings up 18%
CNH Industrial Capital’s portfolio of outstandings grew in the first quarter of 2023 due to consumer demand — despite rising interest rates and increasing bank challenges. The financial services arm of equipment manufacturer CNH Industrial, CNH Industrial Capital, posted $24.5 billion
Regional bank shares plunge on fear of more rescues to come
PacWest Bancorp and Western Alliance Bancorp led a deep selloff in regional lenders Tuesday, as renewed fears over the health of the financial system hit Wall Street after the second-largest US bank failure ever. Trading in both firms triggered multiple volatility halts
Terex maintains $4.1B backlog in Q1
Equipment manufacturer Terex Corp. maintained a backlog of $4.1 billion quarter over quarter as demand remained strong, despite continued supply chain issues and rising interest rates. Terex’s backlog for its aerial work platforms (AWP) at the end of the first quarter
United Rentals sees 26% uptick in Q1
Equipment rental company United Rentals’ saw its rental revenue bolstered by strong demand and fleet productivity in the first quarter. Rental revenue for Q1 was $2.7 billion, up 26% year over year, according to the company’s earnings release. The company’s total
Cat Financial originations down 11% YoY
Cat Financial originations declined in the first quarter due to high interest rates leading to more cash deals and increased competition from banks. Cat Financial, the finance subsidiary of equipment manufacturer Caterpillar, posted $2.5 billion in Q1 originations, a decline of
Equipment finance industry confidence declines again in April
Confidence in the equipment finance industry declined for the second consecutive month amid inflationary pressures and a slowdown in business activity. The Monthly Confidence Index for the equipment finance industry landed at 47 in April, down from 50.3 in March and