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
Experian: The drop in subprime is not a cause for concern
Tuesday, Jan. 26, 2021, 02:57 PM
Melinda Zabritski, Experian
At the onset of the pandemic, many industry pundits made comparisons to the Great Recession; though we quickly learned that the similarities were few and far between. The underlying causes and economic impact of COVID-19 are vastly different from those ... [Read More]
3 associations urge Illinois governor to nix rate-cap measure
Sunday, Jan. 24, 2021, 03:59 PM
SubPrime Auto Finance News Staff
The American Financial Services Association, in collaboration with the Illinois Financial Services Association, the Independent Finance Association of Illinois and the Illinois Automobile Dealers Association, sent a letter on Friday to Gov. J.B. Pritzker to state their “grave concerns” about a ... [Read More]
Portfolio taps Neuenschwander to succeed Haugen as CSO
Friday, Jan. 22, 2021, 03:33 PM
SubPrime Auto Finance News Staff
Portfolio chief sales officer Dan Haugen has retired in a move effective Dec. 31. And the F&I solutions provider didn’t have to look far for a replacement, turning to David Neuenschwander, president of National Automotive Experts and NWAN, the Strongsville, ... [Read More]
More regulatory changes: FTC chairman resigns, too
Thursday, Jan. 21, 2021, 07:19 PM
SubPrime Auto Finance News Staff
A day after the director of the Consumer Financial Protection Bureau resigned, the chairman of the Federal Trade Commission made the same decision. FTC chairman Joseph Simons announced his resignation from the agency on Thursday. While the decision to leave ... [Read More]
Dealertrack: Credit availability down year-over-year
Thursday, Jan. 21, 2021, 04:08 PM
SubPrime Auto Finance News Staff
While Cox Automotive discovered a bit of improvement in vehicle affordability, one of its divisions determined that credit availability is tightening when compared to a year ago as well as before the pandemic intensified. According to the Dealertrack Auto Credit ... [Read More]
CFPB director resigns soon after Biden’s inauguration
Wednesday, Jan. 20, 2021, 08:17 PM
Nick Zulovich, Senior Editor
An hour after President Joe Biden took the oath of office on Wednesday, Kathleen Kraninger resigned as director of the Consumer Financial Protection Bureau. Kraninger said in a post on Twitter along with her resignation letter: “As requested by the ... [Read More]
Reflecting on ‘pivots, challenges and opportunities’ within collections
Wednesday, Jan. 20, 2021, 07:16 PM
SubPrime Auto Finance News Staff
A new report by TransUnion and Aite Group examined the entire collections world, highlighting that outstanding balances in all credit segments declined by more than $8 billion from the end of 2019 to the midpoint of 2020. And experts see ... [Read More]
6 EFG executives project F&I activities during first half of 2021
Wednesday, Jan. 20, 2021, 04:37 PM
SubPrime Auto Finance News Staff
Several industry forecasts already have been released, including one focused on overall used-vehicle sales, retailing of certified pre-owned models as well as the potential swelling of repossessions. This week, six executives from EFG Companies shared their expectations for how the ... [Read More]
Auto defaults remain unchanged in December
Tuesday, Jan. 19, 2021, 03:21 PM
SubPrime Auto Finance News Staff
Much on the default front remained unchanged to close 2020. Among the readings to finish the last year in that category was auto default. According to data through December released Tuesday by S&P Dow Jones Indices and Experian, the December ... [Read More]
Vehicle Affordability Index improves to close 2020
Monday, Jan. 18, 2021, 04:44 PM
SubPrime Auto Finance News Staff
For consumers hoping they could stretch their finances to acquire a new vehicle, the newest Cox Automotive/Moody’s Analytics Vehicle Affordability Index (VAI) offered a bit of uplifting news on Friday. Analysts discovered affordability improved in December, as represented by median ... [Read More]