New ValidiFI report reinforces importance of spotting high-risk indicators of ACH transactions
Wednesday, Sep. 25, 2024, 11:10 AM
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Tuesday, Sep. 24, 2024, 10:28 AM
Car Capital continues in growth mode by naming CIO
Wednesday, Jun. 16, 2021, 03:41 PM
SubPrime Auto Finance News Staff
Car Capital continued to bolster its resources to establish itself as an up-and-coming auto-finance technology company that strives to get any deal bought no matter the consumer credit background. After finalizing a funding round in March and a line of ... [Read More]
Hudson Cook’s Morris explores impact of new FTC chair
Wednesday, Jun. 16, 2021, 03:38 PM
Nick Zulovich, Senior Editor
The U.S. Senate confirmed President Joe Biden’s choice to be chair of the Federal Trade Commission on Tuesday. And Hudson Cook partner Lucy Morris explained how the appointment might influence auto financing as well as how the development correlates back ... [Read More]
Auto-default rate sinks to new all-time low — again
Tuesday, Jun. 15, 2021, 02:14 PM
SubPrime Auto Finance News Staff
Perhaps when auto-finance executives thought defaults couldn’t get any lower, the industry responded with, “Hold my beer!” According to the newest data compiled by S&P Dow Jones Indices and Experian, auto defaults now are at the lowest reading ever recorded. [Read More]
KBRA: Impact of federal stimulus on monthly payments continues to fade
Monday, Jun. 14, 2021, 03:23 PM
SubPrime Auto Finance News Staff
Kroll Bond Rating Agency (KBRA) highlighted how much federal stimulus money provided a positive bounce for maintaining monthly payments. And according to the firm’s newest report, that bounce is losing its momentum, but the overall market still is solid as ... [Read More]
Newest Protective Asset Protection survey highlights nearly 10% growth in F&I sales
Thursday, Jun. 10, 2021, 02:58 PM
SubPrime Auto Finance News Staff
Protective Asset Protection’s latest industry survey focused on how the pandemic impacted the sales of F&I products both online and at the dealership. Protective Asset Protection commissioned the online survey during March and took the pulse of nearly 500 F&I ... [Read More]
Sedgwick expands auto claims division with two strategic acquisitions
Wednesday, Jun. 9, 2021, 03:47 PM
SubPrime Auto Finance News Staff
June is proving to be acquisitions month. Along with transactions involving dealer groups, auctions and digital retailing companies, Sedgwick — a leading global provider of technology-enabled risk, benefits and integrated business solutions — announced on Tuesday that it has acquired ... [Read More]
Loans & ride-sharing involved in latest CFPB settlement
Wednesday, Jun. 9, 2021, 03:36 PM
SubPrime Auto Finance News Staff
The Consumer Financial Protection Bureau now is taking its regulatory aim at loans connected with workers involved in the gig economy and ride-sharing. The CFPB recently filed a proposed settlement against Driver Loan and chief executive officer Angelo Jose Sarjeant. ... [Read More]
EFG highlights double-digit profit lift after new F&I training
Wednesday, Jun. 9, 2021, 03:33 PM
SubPrime Auto Finance News Staff
EFG Companies is looking to leverage lessons learned through the pandemic to help dealerships get the most out of their F&I activities. This week, EFG announced the debut of its modular training subscription service that when piloted during the pandemic, ... [Read More]
Spireon elevates internal exec to be CTO
Tuesday, Jun. 8, 2021, 02:13 PM
SubPrime Auto Finance News Staff
Spireon, a provider of risk mitigation services and other technologies to subprime auto finance companies and buy-here, pay-here dealers, announced the promotion of one of its executives to be chief technology officer. Previously Spireon’s senior vice president of engineering, the ... [Read More]
Nicholas Financial makes numerous year-over-year performance improvements
Monday, Jun. 7, 2021, 02:44 PM
SubPrime Auto Finance News Staff
Nicholas Financial made quite a year-over-year rebound when detailing its 2021 fiscal year results last week, including vital metrics like net income and delinquency rates. Despite a dip in total revenue, the subprime auto finance company reported that its net ... [Read More]