Fifth Third Sees ‘Big Focus’ on Collateral After Tricolor Pain

Fifth Third Bancorp Chief Executive Officer Tim Spence said the firm is closely monitoring collateral after lenders were burned by the collapse of Tricolor Holdings.

“The big focus for us is just in making sure that we do the things we need to do to monitor collateral,” Spence said Monday in a Bloomberg TV interview. “Because you can’t have a secured loan deliver an unsecured loss without it being painful, which of course it was.”

Subprime auto lender Tricolor filed for bankruptcy in September, with lenders including Fifth Third, JPMorgan Chase & Co. and Barclays Plc bracing for potential ...