Survey: 27% of consumers do not review their credit report annually
Wednesday, Oct. 2, 2024, 10:57 AM
Edmunds: Average amount financed for used cars drops in Q3
Tuesday, Oct. 1, 2024, 10:00 AM
FTC reiterates use of ‘plain language’ associated with regulatory activities
Monday, Sep. 30, 2024, 11:35 AM
‘Lax’ complaint response draws ire of acting CFPB director
Thursday, Feb. 11, 2021, 04:03 PM
SubPrime Auto Finance News Staff
On Wednesday, Dave Uejio — the acting director of the Consumer Financial Protection Bureau — said he met with staff from the regulator's Division of Consumer Education and External Affairs (CEEA). Among the findings and directives originating from last week's gathering, ... [Read More]
ARA shifts its 2 major events to October in hopes of in-person industry gatherings
Wednesday, Feb. 10, 2021, 05:22 AM
SubPrime Auto Finance News Staff
While the National Automobile Dealers Association is orchestrating its largest event of the year virtually this week, the American Recovery Association announced its decision to reschedule its primary events to the fall in hopes of having them in person. After ... [Read More]
Reviewing 8 regulations every dealer should know
Wednesday, Feb. 10, 2021, 05:10 AM
SubPrime Auto Finance News Staff
While GWC Warranty isn’t suggesting that dealers need to have a law degree to retail used vehicles, the F&I product provider revisited eight crucial regulations operators should understand to do business in a compliant manner. Reviewing the basics of these ... [Read More]
CBA cautious about federal student-loan debt proposal
Tuesday, Feb. 9, 2021, 03:22 PM
SubPrime Auto Finance News Staff
Some applicants might be landing at your subprime auto finance company in part because of the amount of student loan debt detailed on their credit report. Senate Democrats recently proposed eliminating up to $50,000 in federal student loan debt per ... [Read More]
Short-term consumer credit growth outlook improves
Monday, Feb. 8, 2021, 05:09 PM
SubPrime Auto Finance News Staff
At least one industry expert used some positive adjectives when assembling reaction after the Federal Reserve released consumer credit data for December. The credit data arrived after a federal forecast projecting how long it might take for the U.S. job ... [Read More]
SCUSA confirms end of written agreement with Fed over compliance
Friday, Feb. 5, 2021, 05:17 PM
SubPrime Auto Finance News Staff
An enforcement action involving Santander Consumer USA (SCUSA) stemming from four years ago came to a conclusion on Thursday. Santander Holdings USA and SCUSA confirmed in a news release that the board of governors of the Federal Reserve System has ... [Read More]
Sales of Skip-Tracing Certification Program to benefit Innocent Lives Foundation
Friday, Feb. 5, 2021, 05:15 PM
SubPrime Auto Finance News Staff
LocateSmarter’s Alex “SkipGuru” Price and RISC are joining forces not just to help professionals sharpen their skip-tracing skills, but also to generate financial resources for a cause connected to something more valuable than vehicles. To support the Innocent Lives Foundation ... [Read More]
Top 25 cities with highest auto-debt ratios
Thursday, Feb. 4, 2021, 03:19 PM
SubPrime Auto Finance News Staff
This week, personal finance website WalletHub released the first quarter installment of its Auto Financing Report, pinpointing the top 25 cities where consumers hold the highest amounts of auto-finance debt when analyzed against their income. The vast majority of the ... [Read More]
5 organizations reiterate value of direct relationship with repo agents
Wednesday, Feb. 3, 2021, 07:16 PM
SubPrime Auto Finance News Staff
More than 2,000 years ago, Greek mathematician Archimedes is credited with the finding that the shortest distance between two points is a straight line. Well, five organizations from the repossession world recently reiterated their industry position using a similar assertion that ... [Read More]
700Credit details integration with DriveCentric for FICO score visibility & more
Wednesday, Feb. 3, 2021, 04:44 PM
SubPrime Auto Finance News Staff
This week, 700Credit finalized another integration partnership to make available its credit reports as well as compliance and soft-pull solutions. The latest relationship is with DriveCentric, a robust CRM, artificial intelligence (AI) and conversational engagement platform for automotive retailers. Officials ... [Read More]