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Continued: Sharp drop in reserves to cover bad loans helps lift Capital One Financial's 2Q net income

  • Article by: ALEX VEIGA , AP Business Writer
  • Last update: July 18, 2013 - 6:45 PM

Auto loans grew 16 percent during the quarter versus the prior-year period.

Fairbank said he expects the pace of auto loan growth to decelerate as more lenders step back into the market after sitting the economic downturn.

"As the cycle plays out and competition continues to pick up, I expect the exceptional results of the past few years to moderate somewhat," Fairbank said.

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