NEW YORK -

A report surfacing this past weekend indicated that Wells Fargo is capping how much subprime auto paper is going to fill its portfolio going forward.

The New York Times reported Wells Fargo has decided to cap its subprime originations at 10 percent of its overall vehicle installment contract originations. The newspaper indicated bank executives determined their 2014 total originations figure came in at $29.9 billion.

The report — authored by the same individuals who have taken aim at the subprime auto finance industry in previous articles — said, “The decision, detailed in interviews with top Wells Fargo executives, along with other large auto lenders, is a sobering moment for the booming market. Other lenders may decide to take their cue from Wells Fargo, one of the nation’s largest lenders. After successfully sidestepping many of the catastrophic mortgage losses that hit its competitors during the financial crisis, the bank has developed a reputation for deftly managing risk.”

The news comes after finance companies such as Credit Acceptance watched its fourth-quarter originations expand because management chose to loosen terms. Another firm that specializes in subprime paper, Consumer Portfolio Services, also is coming off a quarter of expanding business.