U.S. Banks Missed Warning Signs on Tricolor. Now, Their Losses Are Adding Up.
1. Tricolor Auto Group declared bankruptcy after rapid growth and high ratings. 2. JPMorgan Chase and others invested in Tricolor’s auto loans, now facing potential losses. 3. Tricolor's practices raised regulatory red flags before its collapse. 4. Tricolor's CEO has a controversial history of business mismanagement. 5. JPMorgan and other backers are exposed to Tricolor's financial failures.