With regulatory changes affecting the collections and credit risk industry coming, organizers of the 16th annual National Collections & Credit Risk Conference are gearing up for one of its most relevant sessions ever. This year’s event is scheduled for March 14–16 at the Hyatt Regency New Orleans in New Orleans. Conference attendees can learn best […] [Read More]

Stemming from what its lead analyst said was conservative lending activity, Experian Automotive determined repossession rates and average charge-off amounts all dropped year-over-year as the fourth quarter closed. The overall repo rate slipped 5.8 percent to 0.63 percent, the lowest level of the past two years. Experian indicated the overall rate stood at 0.67 percent […] [Read More]

Despite sluggish economic conditions in Europe, Hertz Global Holdings established records during 2011 for income, revenue and more as the company recently highlighted its financial performance. Beginning with a look at fourth-quarter numbers, Hertz reported $2.0 billion in worldwide revenues, an increase of 9.7 percent year-over-year or 9.8 percent year-over-year excluding the effects of foreign […] [Read More]

During a conference call with investors discussing its fourth quarter earnings results last week, GM Financial tipped its hand on some upcoming plans it has for Canada. While declining Auto Remarketing Canada’s request for specifics, the lender said it will start offering General Motors dealers non-prime lending in Canada later this year. [Read More]

While also explaining its chief executive officer succession plan on Wednesday, Lithia Motors detailed results from a period that produced its best fourth-quarter net income ever in addition to used-vehicle sales that soared double digits. Specifically, the company sold 10,092 retail used vehicles during the period for a 24.5-percent year-over-year gain. Wholesale used sales increased […] [Read More]

On Tuesday, Dealer Services Corp., of Indiana promoted one of its executives to the newly created position of vice president of customer service.   Taking on the role is Randy Dohse, who previously held the position of regional director. The company indicated Dohse will be responsible for all customer service functions including dealer services, auction […] [Read More]

Counting a healthy used-car market as one of the factors helping its success in 2011, Dollar Thrifty Automotive Group notched its most profitable full-year and fourth-quarter ever. Commenting on the latest yearly and quarterly earnings report released Tuesday, Dollar Thrifty chairman, president and chief executive officer Scott Thompson said: “We are pleased to announce that […] [Read More]

The Consumer Financial Protection Bureau recently announced a proposed rule to include debt collectors and consumer reporting agencies under its nonbank supervision program — marking the first time these consumer financial market participants are subject to federal supervision. The Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the CFPB, authorizes the CFPB to […] [Read More]

While also predicting repossessions should trend upward again, Manheim chief economist Tom Webb explained why lenders didn’t sustain as much of a loss when a loan contract went south during the past two years. Webb stated that “in those cases in which repossessions did occur in 2010 and 2011, lenders experienced a significant reduction in […] [Read More]

GE Capital Fleet Services recently announced its customer cost savings for the full year of 2011. The total amount of identified savings was  $347 million, with optimal vehicle cycling for fleets yielding the highest cost savings of more than $124 million for the year, officials revealed. [Read More]