Recovery Database Network recently introduced its Compliance Dashboard and Automation Center, a tool aimed at providing lenders with a visually dynamic way to easily assess key recovery performance data and monitor recovery vendor compliance with performance standards. Integrated into RDN’s recovery management software and available to subscribers at no additional cost, the company insisted the […] [Read More]

When Black Book Lender Solutions analyzed historical vehicle segment data and developed projected retention levels for the next 12 to 24 months, three specific kinds of units distinguished themselves from the 24 individual categories. Those three segments included compact cars, midsize cars and full-size pickups. These three model categories pushed the overall retention readings to […] [Read More]

Richard Cordray is staying as director of the Consumer Financial Protection Bureau, the agency that has been intensifying its regulation of vehicle financing since the spring. The U.S. Senate confirmed Cordray to remain at the position late Tuesday, stirring mostly positive reaction from industry associations as well as lawmakers who wanted the vote taken much […] [Read More]

Confirmation of Richard Cordray remaining director of the Consumer Financial Protection Bureau advanced on Tuesday as the U.S. Senate voted in favor of cloture being invoked, meaning debate had to end and a final vote to keep him at the post needed to be completed. As of press time, that vote to confirm Cordray had […] [Read More]

Along with selecting its outside legal counsel, Recovery Industry Services Co. recently formed the RISC Compliant Agent Network (RISC CAN). RISC highlighted membership is open to any professional collateral recovery agency owner who can meet the stringent requirements of the firm’s network and adhere to the RISC Code of Ethics. The company is out to […] [Read More]

While recent bulletins from federal regulators have been associated with F&I elements such as dealer participation, RouteOne reminded principals and managers about the potential consequences for not complying with rules associated with adverse action notices and risk-based pricing. RouteOne digital marketing manager Francis Gojcaj shared a question often asked by dealers, stating, "If I didn't […] [Read More]

Avis Budget Group has purchased Payless Car Rental in a $50 million cash deal.  In announcing the news this morning, Avis indicated that adding North America’s sixth largest car-rental company “will give Avis Budget Group a strong position in the fast-growing deep-value segment of the car rental industry.” [Read More]

SubPrime Auto Finance News, our sister publication, was on hand at the NAF Association’s 17th annual Non-Prime Auto Financing Conference last month. On the docket of SubPrime’s extensive coverage was a keynote session that included a question-and-answer dialogue between Hudson Cook chairman Tom Hudson and Rick Hackett, the then-assistant director at the Consumer Financial Protection […] [Read More]

More than three-fourths of all certified pre-owned sales in the first quarter included financing, according to J.D. Power and Associates. This point certainly helps back up the assertion that CPO and financing are “highly co-dependent” on each other, as Kia’s Brad Beer put it. [Read More]

It was announced earlier this week that Safe-Guard Products International — a provider of F&I products to auto, RV/trailer, marine and powersport retailers, as well as manufacturers and financial institutions — has opened an operation specifically to offer specialized services to Canadian consumers. Safe-Guard Canada Ltd., based in Mississauga, Ontario, handles all claims on Safe-Guard […] [Read More]