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The longer interest rates stay elevated, the more potential cracks could show: Karl BergerBMO Financial Group has announced plans to wind down its retail auto finance operations in Canada and the U.S. and redeploy resources elsewhere. BMO Financial Group will cease indirect auto financing through dealers, focusing on direct personal lending solutions while continuing to. BMO is finding auto finance too risky as quantitative tightening continues. Car delinquencies are most likely climbing. Next up, housing.
