JPMorgan questioned Tricolor’s accounting a year before its collapse
Lawsuit shows bank flagged ‘serious material weaknesses’ at the Texas auto lender in early 2024
Lawsuit shows bank flagged ‘serious material weaknesses’ at the Texas auto lender in early 2024

Justice department says subprime auto lender defrauded its lenders before its collapse this year

Tricolor Holdings fell into bankruptcy with more than $1bn of liabilities

Texas lender’s rapid failure leaves trail of losses and questions in a fast-growing Wall Street market

Devaluation of collateral will limit credit to firms that have become top lenders to higher-risk companies

US securities watchdog is questioning what investors were told about exposure to the now-collapsed car parts group

‘Omnibus’ claim comes days before regulator unveils details of mis-selling redress scheme